Financial news source Bloomberg has revealed that Brookfield Asset Management’s private equity division and Apollo Global Management have expressed interest in purchasing the worldwide lottery operations of gaming tech firm, Scientific Games.
Although none of the parties involved have issued official statements, insiders indicate that Scientific Games has engaged in discussions with several private equity groups concerning a possible sale. This news comes on the heels of reports that Scientific Games is contemplating an initial public offering (IPO) on the Australian Securities Exchange, with the goal of raising approximately $3 billion. The IPO process could potentially commence as soon as this week.
It is crucial to acknowledge, however, that no definitive choices have been reached, and Scientific Games may ultimately opt to keep its lottery segment. Earlier this year, the company disclosed its examination of strategic options for its lottery and sports wagering units, encompassing a merger with a special purpose acquisition company (SPAC) or another entity, as part of its endeavors to decrease debt.
In a noteworthy transaction last month, Scientific Games concluded the sale of its sports betting arm, OpenBet, to Endeavor Group Holdings, Inc. for $1.2 billion in a combined cash and equity agreement.
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