Tag Archives: Scientific Games Corporation

Perelman fund reviews majority shareholding in Scientific Games

MacAndrews & Forbes, the investment fund of American billionaire Ronald Perelman, has filed an SEC note informing that it is exploring a full divestment of its shareholding in Scientific Games Corporation (SGC).  The wholly-owned fund of finance tycoon Perelman has placed its 39% shareholding in SGC under review, but underlined that it has yet to determine a future outcome for …

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Scientific Games confirms Michael Eklund as inbound Group CFO 

Williamson

Scientific Games Corporation (SGC) has confirmed the inbound appointment of Michael Eklund as Group Chief Financial Officer (CFO). Eklund will join SGC’s executive leadership team on 1 June, taking control of the Nasdaq technology group’s financial planning, auditing and capitalisation structures. The appointment sees SGC secure a leading CFO for large scale technology enterprises, with Eklund having previously led diverse …

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Scientific Games appoints Rich Schneider as group product strategy lead

Nasdaq gambling technology supplier Scientific Games Corporation (SGC) has confirmed the appointment of Rich Schneider as Group Chief Product Officer (CPO). A key new hire for SGC, Schneider has joined the executive team from Australia ASX competitor Aristocrat, where he served as CPO leading creative studios, hardware and product development. Updating investors, SGC governance details that it has secured an ‘industry …

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Scientific Games leadership commits to salary cut to navigate COVID-19 headwinds

Barry Cottle, President and Group CEO of Scientific Games Corporation (SGC), has this morning issued a personal statement on the firm’s contingency planning and workforce actions to counter global COVID-19 impacts. Cottle has confirmed that SGC will implement a series of cost-savings measures seeking to secure long-term company jobs as it reduces workforce hours.  Drastic actions have seen the firm’s …

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Norsk Tipping boosted funding for Grasrotandelen initiative during 2019

Norwegian state-run operator Norsk Tipping has revealed that during 2019, it had allocated almost NOK700m (£60.2m) towards grassroots sporting initiatives as part of its Grasrotandelen initiative. The operator distributed a total of NOK698.2m last year, marking a 7.6% increase on the NOK649m handed out in 2018. Norsk Tipping revealed that via the Grasrotandelen project, over 35,000 grassroots initiatives secured funding …

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Scientific Games agrees to supply VLTs through Norsk Tipping deal

Via its Global Draw Ltd subsidiary, industry technology group Scientific Games Corporation (SGC) has secured a ‘landmark’ partnership with Norsk Tipping. The new agreement will see SGC supply 3,000-4,500 Video Lottery Terminals (VLT) across approximately 1,000 locations across Norway, which will include convenience stores, bingo venues and other arenas. Thorbjørn A Unneberg, EVP Market Operations Norsk Tipping, commented: “Having worked …

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Former Scientific Games CEO David L Kennedy resigns from board

Issuing a corporate filing, Nasdaq-listed Scientific Games Corporation (SGC) has confirmed that former Group Chief Executive David L Kennedy has chosen to resign from the firm’s board of corporate governance. Updating stakeholders, SGC informs that Kennedy will end his 10-year executive tenure on 31 December 2019, after choosing to retire from all corporate activities. Kennedy had formerly served as Group …

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Scientific Games completes $1.2 billion debt-note transaction

Issuing a corporate filing, Nasdaq-listed technology group Scientific Games Corporation (SGC) has confirmed that its wholly-owned subsidiary unit ‘Scientific Games International Inc’ has completed its private debt-offering of $1.2 billion sanctioned at the start of November. A breakdown of the transaction sees Scientific Games debt-note comprised of two tranches set at $700 million of senior unsecured notes due for 2028, and $500 …

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Scientific Games pursues new $1.2 billion debt note placement

Nasdaq-listed industry technology group Scientific Games Corporation (SGC) has confirmed that subsidiary Scientific Games International intends to pursue a private bond placement targeting $1,200m in aggregate principal amount of senior unsecured notes due 2028 and senior unsecured notes due 2029 in a private offering. In the announcement, made today, the firm said it intends to use the net proceeds of the notes offering, together …

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Strong Q3 trading sees Scientific Games return to black

Scientific Games Corporation (SGC) has reported that growth across all core business segments – including its sports betting vertical (SG digital division) but with the exception of gaming operations (sequential loss of $1m) – is growing on “both the top and bottom line”, which CEO Barry Cottle said puts the company on a “path to 5.5x net debt leverage by …

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