Tag Archives: SGC

Light & Wonder seeks new CEO as Cottle exits transformed business

SBC News Light & Wonder seeks new CEO as Cottle exits transformed business

Light & Wonder Inc (formerly Scientific Games Corp) has confirmed that Barry Cottle has resigned as Chief Executive and a board member of the Nasdaq cross-platform games supplier. The board of L&W has begun a search process to find Cottle’s successor, as long-term senior executive Matt Wilson takes charge of the day-to-day leadership of L&W as Interim CEO. The former …

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Scientific Games upgrades Leeds lottery facility

SBC News Scientific Games upgrades Leeds lottery facility

Scientific Games Corporation has expanded instant game production technology by 20% at its UK production facility in Leeds, adding an estimated 175 employees to its workforce there. The Leeds plant is one of five global instant games production centres serving the worldwide lottery industry with products representing 70% of global retail sales. It currently supplies the UK National Lottery and 50 lotteries in …

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Scientific Games protects executive team as Perelman mulls selling majority stake

SBC News Scientific Games protects executive team as Perelman mulls selling majority stake

Scientific Games Corporation (SGC) has adopted new controls to protect the firm’s leadership structures should majority investor Ronald Perelman move to fully divest his shareholding in the Nasdaq-listed gambling technology group. This story featured in today’s SBC News 90. To view the latest round-up, watch today’s edition here. Issuing a SEC filing, SGC governance revealed that it had updated its …

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Scientific Games records $198m loss as COVID swamps casino and lottery performance

SBC News Scientific Games records $198m loss as COVID swamps casino and lottery performance

Scientific Games Corporation (SGC) has published its Q2 trading statement, underlining that COVID-19 has impacted all core business channels, as the company recorded a net operating loss of $198 million. As previously communicated to markets, the Nasdaq technology group stated that pandemic disruptions have ‘affected comparability to previous trading periods’, as group Q2 revenues dropped from $845 million in Q2 …

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

SBC News 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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Scientific Games pursues new $1.2 billion debt note placement

SBC News 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

SBC News 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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Brazil finance ministry allows CAIXA to increase lottery ticket prices

SBC News Brazil finance ministry allows CAIXA to increase lottery ticket prices

Issuing a statement, SECAP – the planning department of Brazil’s Finance & Economic Ministry – has confirmed that it will allow national bank CAIXA to increase prices across its lottery products offering. Beginning 2020, CAIXA will be allowed to increase its ticket prices on its eight lottery products by an average of 28%. The update sees CAIXA implement its first ticket …

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Scientific Games confirms Turkish National Lottery win

SBC News Scientific Games confirms Turkish National Lottery win

Nasdaq-listed gambling technology group Scientific Games Corporation (SGC) has secured the lead systems supplier contract for the newly reformed ‘Milli Piyango’ – Turkey’s National Lottery. The company’s instant win catalogue and Wave retailer terminals have been selected as core systems by the winning joint venture of Italian gambling operator Gruppo Sisal and ‘Şans Dijital’ – the digital division of Turkish multi-media conglomerate …

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US agenda sees Kindred Group deepen SG Digital systems partnership

Kindred Group - Nils Andén, Tom Banks

Nasdaq-listed Scientific Games Corporation (SGC) confirms that it’s online gambling technology subsidiary SG Digital will power the US online casino platform and systems provisions of Stockholm-listed Kindred Group Plc. Updating the market, SG Digital informs that Kindred has selected its Open Gaming System (OGS) and Open Platform System (OPS) as lead technology and content solution for its US market profile. …

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