Richard Haddrill, (pictured), a director of casino equipment and lottery services provider Scientific Games Corp, resigned from the company’s board with effect from Friday (July 24), the group confirmed in a Nasdaq filing that day. No reason for the resignation was disclosed in the filing.
Mr Haddrill was chief executive of casino equipment brand Bally Technologies Inc at the time that company was acquired in November 2014 by Scientific Games in a US$5.1-billion deal.
Since February 2018, Mr Haddrill has been engaged as a consultant to Scientific Games, serving also as a member of the group’s board of directors. The consultancy deal has been renewed a number of times, and the terms of such agreement have been amended over the years.
The fourth and latest amendment to the consultancy agreement was made on June 30, 2020, including a decrease in monthly fees. With effect from August 1 to August 31, Mr Haddrill will be paid nearly US$20,833 a month for the consultancy services to Scientific Games, according to a July 23 filing.
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Vitaly Umansky, Kelsey Zhu and Tianjiao Yu
Analysts at brokerage Sanford C. Bernstein