logo
Plus   Neg
Share
Email

Scientific Games Considers IPO For Social Gaming Business In 2019 - Quick Facts

Scientific Games Corporation (SGMS) announced the company is considering a possible initial public offering of a minority interest in its social gaming business in 2019. The company believes an IPO would provide greater flexibility to pursue additional growth initiatives specifically designed for its social gaming business, as well as unlocking additional value for stakeholders. The company anticipates that the proceeds from the IPO would primarily be used to repay debt.

Barry Cottle, CEO of Scientific Games, said: "Our investments in digital, sports betting, and new games are producing the most innovative and engaging products in the market and we are excited about the customer response here in the U.S. and around the world. For our rapidly growing social business, an IPO would give us greater flexibility to pursue growth for the business and drive value for stakeholders."

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of Nordstrom Inc. (JWN) slipped 10 percent in extended hours on Thursday after the department store chain's full-year revenue outlook fell short of Street estimates. Seattle-based Nordstrom's third-quarter profit dropped to $67 million or $0.39 per share from $114 million or $0.67 per share... Shares of Nvidia Corp. (NVDA) plunged 16% in extended session on Thursday after chip designer's third-quarter revenues and fourth quarter outlook fell short of Wall Street estimates. Santa Clara, California-based Nvidia's third-quarter profit surged to $1.23 billion or $1.97 per share from $838 million... Retail giant Walmart Inc. on Thursday reported a 2 percent decrease in profit for the third quarter from last year as higher revenues were offset by one-time charges. However, adjusted earnings per share beat analysts' expectations, while revenue missed estimates. Looking ahead, the company lowered its outlook for fiscal 2019 reported earnings, but raised its outlook for adjusted earnings.
Follow RTT