Scientific Games has submitted a proposal to the board of directors of SciPlay to acquire the remaining 19 per cent that it does not currently own, as the group makes its maiden move into the Ukrainian market.
The latter has seen the group deploy electronic gaming machines, tables, and progressive jackpot products, to a multitude of casinos, including Slots City, Storm Ukraine and Billionaire Casino, with more said to be on the horizon.
Stelios Tsapatos, sales director of Europe, Middle East and northern Africa, commented: “Launching our industry leading products in some of the largest casinos in Ukraine is an important step on our journey to engage and excite players across the country with a new gaming offer.
“Our partnerships in Ukraine are already starting to grow and casinos are benefiting from Scientific Games’ diverse product mix. We’re here for the long run, expanding our presence, building familiarity with players and always evolving their experience to maximise revenues for our partners.”
Furthermore, the group also says that its SciPlay proposal would represent another important step forward in its strategy to become a content-led growth company, focusing on digital markets while unlocking the value of its products and technologies.
On completion of the transaction, SciPlay would become a wholly-owned subsidiary of Scientific Games.
“SciPlay fits perfectly into Scientific Games’ focus on building engaging content and launching great games more fully cross-platform,” the group said.
“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.”
Barry Cottle, Scientific Games’ president and CEO, underlined the rationale behind the proposal to the SciPlay board, stating: “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 capitalisation of $7bn and a public float that would be approximately 18x larger than SciPlay today.”
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