• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Sci Games seeks up to US$405mln via social gaming biz IPO

Apr 23, 2019 Newsdesk Industry Talk, Latest News, Top of the deck  


Sci Games seeks up to US$405mln via social gaming biz IPO

Scientific Games Corp, a United States-based casino equipment maker and lottery services company, announced on Monday the start of an initial public offering of a minority interest in its social gaming arm, SciPlay Corp.

The goal is to float the shares on Nasdaq in the United States, under the ticker symbol “SCPL”.

SciPlay is offering 22 million shares of its class A common stock. The initial public offering price is expected to be between US$14.00 and US$16.00 per share, said the parent company in a press release.

“SciPlay expects to grant the underwriters a 30-day option to purchase up to an additional 3.3 million shares of its class A common stock at the initial public offering price,” the release added.

The document did not include a schedule for the completion of the overall exercise.

If SciPlay is able to sell all the shares on offer – including those granted to the underwriters  – at the top end of the price range set for the IPO, the company would realise US$404.8 million in gross revenue.

The announcement issued on Monday said the lead book-runners for the SciPlay offering were BofA Merrill Lynch, JP Morgan Securities LLC and Deutsche Bank Securities Inc. In addition, Goldman Sachs & Co LLC, Morgan Stanley & Co LLC, Macquarie Capital (USA) Inc and RBC Capital Markets LLC were acting as book-running managers for the offering. Co-managers for the IPO were announced as Stifel, Nicolaus & Company Inc, and Wedbush Securities Inc.

Scientific Games reported in February that it made a net profit of US$206.8 million in the fourth quarter of 2018, having made a net a loss of US$43.1 million a year earlier. Fourth-quarter revenue rose by 7.6 percent year-on-year to US$885.7 million.

On Monday, Scientific Games provided a set of estimated preliminary results for its social gaming business segment for the first three months of 2019. It said it expected to record revenue of between US$117 million and US$119 million during the period, as compared to US$97.5 million in the first quarter of 2018. Net income for the social gaming business was expected to range between US$13 million and US$15 million, compared to a net loss of US$1.1 million in the prior-year period.

Scientific Games had said in November it had been considering an IPO for a minority interest in its social gaming business. “The social gaming business continues to experience rapid growth and has reached significant scale,” the firm stated at the time.


  • tweet
Related articles
  • 2021 board named for International Gaming Standards Assn
    2021 board named for International...

    Mar 02, 2021  

  • IGT, Sci Games in cross-licensing deal on cashless gaming IP
    IGT, Sci Games in cross-licensing deal...

    Mar 02, 2021  

More news
  • Macau Jan gaming tax take US$402 mln, down 63 pct
    Macau Jan gaming tax take US$402 mln,...

    Mar 03, 2021  

  • Casino surveillance biz decline leads Synectics to annual loss
    Casino surveillance biz decline leads...

    Mar 03, 2021  


Latest News

Macau Jan gaming tax take US$402 mln, down 63 pct

Macau Jan gaming tax take US$402 mln, down 63 pct

Mar 03, 2021  

The Macau government collected nearly MOP3.21 billion (US$402.1 million) in tax revenue from the city’s gaming industry for the first month in 2021. That figure was down 63.6 percent compared...
Read More
Casino surveillance biz decline leads Synectics to annual loss

Casino surveillance biz decline leads Synectics to annual...

Mar 03, 2021  

Casino op Genting Malaysia pay cuts March-May: reports

Casino op Genting Malaysia pay cuts March-May: reports

Mar 03, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

“As a leaner, stronger company, we expect leverage to return to pre-pandemic levels in the next 12-18 months”

Max Chiara

Chief financial officer at gaming product and lottery services provider International Game Technology



Most Popular

  • Galaxy Macau to add Raffles-branded hotel towerGalaxy Macau to add Raffles-branded hotel tower March 1, 2021
  • Macau casino GGR down 9pct m-o-m in February: govtMacau casino GGR down 9pct m-o-m in February: govt March 1, 2021
  • Melco’s Lawrence Ho hopeful on Macau recovery in MarchMelco’s Lawrence Ho hopeful on Macau recovery in March February 26, 2021
  • Covid-19 test cert no longer needed for Macau casino entryCovid-19 test cert no longer needed for Macau casino entry March 2, 2021
  • Macau VIP challenged by changes in China: Galaxy Ent bossMacau VIP challenged by changes in China: Galaxy Ent boss February 25, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us