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cientific Games Corporation announced on Thursday that it has submitted to the Board of Directors of SciPlay Corporation a proposal for Scientific Games to acquire the remaining 19% equity interest in SciPlay that it does not currently own in an all-stock transaction, following which it would become a wholly-owned subsidiary of Scientific Games.
This proposed transaction comes as Scientific Games recently announced its plans to become a content-led growth company with a particular focus on digital markets, leveraging the company’s products and technologies. The company said that SciPlay “fits perfectly into Scientific Games’ focus on building engaging content and launching great games more fully cross-platform.”
Scientific Games expects the transaction to be immediately accretive to the value of the company’s shares offering SciPlay shareholders a premium for their investment and the opportunity to participate in the upside potential of Scientific Games as it transforms its portfolio and executes on its strategy to drive long-term sustainable growth and significant shareholder value.
“We believe a merger of SGMS and SciPlay will deliver significant operational, strategic and financial benefits and drive shareholder value in excess of what each company could generate on a standalone basis. Further, we believe SciPlay public shareholders will benefit from increased trading liquidity as a result of being part of a pro forma entity with a market capitalization of $7.0 billion (based on the closing share prices of SGMS and SciPlay on July 14, 2021) and a public float that would be approximately 18x larger than SciPlay today,” Scientific Games President and CEO wrote in its letter to SciPlay’s Board.
Original article: https://www.yogonet.com/international//noticias/2021/07/15/58399-scientific-games-seeks-to-acquire-remaining-19por_ciento-stake-in-sciplay
