• 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
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Perelman mulls sale of entire 39pct stake in Sci Games

Jul 16, 2020 Newsdesk Latest News, Top of the deck, World  


Perelman mulls sale of entire 39pct stake in Sci Games

Scientific Games Corp chairman Ronald Perelman is considering a possible sale of his entire stake in the casino and lottery services supplier, according to a Wednesday filing by Scientific Games with the U.S. Securities and Exchange Commission. Mr Perelman is the largest shareholder in the Las Vegas-based company.

The executive controls – via direct and indirect holdings, including MacAndrews & Forbes Inc – nearly 39 percent of the firm’s common shares.

According to the filing, Mr Perelman has “determined to explore a possible sale” of the stake he currently holds in Scientific Games. The statement said that the executive has “not formulated any specific or definitive plan or proposal” for the sale, and “there can be no assurance that any transaction will occur or as to the terms of any such transaction.”

Mr Perelman, 77, is ranked number 211 globally in Forbes’ “World’s Billionaires List 2020”, with a net worth estimated at US$7.5 billion as of July 15. The financier has a diverse array of holdings, including gaming, cosmetics and pharmaceuticals.

A spokesperson for MacAndrews & Forbes told Bloomberg that Mr Perelman was looking to rework his holdings amid the impact on business from the Covid-19 pandemic, including the divestment of certain assets.

“Due to changes in the world both socially and economically, we have decided to reset MacAndrews & Forbes in a manner that will give us maximum flexibility both financially and personally,” the person said in a statement to the media outlet. “This will allow us to be opportunistic and flexible in looking at new situations.”

As the firm’s largest shareholder and chairman, Mr Perelman oversaw Scientific Games’ rapid expansion as a gaming equipment provider.

Scientific Games, originally a specialist in lottery equipment and management, announcement in January 2013 that it was buying Chicago-based slot machine maker WMS Industries Inc for nearly US$1.5 billion. In November 2014, Scientific Games acquired slot machine and floor management systems specialist Bally Technologies in a transaction valued at US$5.1 billion.

Scientific Games said in May that its first-quarter net loss widened to US$159 million, from US$24 million a year earlier. The company said the quarterly results had been “negatively impacted by the Covid-19 disruptions”.


  • tweet
Related articles
  • Aruze Gaming Australia appoints SVP of products for APAC
    Aruze Gaming Australia appoints SVP of...

    Jun 15, 2022  

  • TransAct quarterly loss widens despite revenue increase
    TransAct quarterly loss widens...

    May 11, 2022  

More news
  • Covid-19 test certificate to enter Macau casinos
    Covid-19 test certificate to enter...

    Jun 27, 2022  

  • Parisian quarantine hotel as Macau Covid cases near 360
    Parisian quarantine hotel as Macau...

    Jun 27, 2022  


Latest News

Covid-19 test certificate to enter Macau casinos

Covid-19 test certificate to enter Macau casinos

Jun 27, 2022  

Macau’s health authorities said on Sunday that they would require all people wishing to enter the city’s casinos not only to have their body temperature measured and to display a...
Read More
Parisian quarantine hotel as Macau Covid cases near 360

Parisian quarantine hotel as Macau Covid cases near 360

Jun 27, 2022  

Maybe new Macau mass Covid test, community spread still

Maybe new Macau mass Covid test, community spread still

Jun 24, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


357

The aggregate number – as of end of Sunday – of confirmed infections in Macau linked to the most serious Covid-19 outbreak impacting the city since the start of the pandemic in 2020



Most Popular

  • Maybe new Macau mass Covid test, community spread stillMaybe new Macau mass Covid test, community spread still June 24, 2022
  • Blackstone clinches US$6.15bln takeover of Crown ResortsBlackstone clinches US$6.15bln takeover of Crown Resorts June 24, 2022
  • Parisian quarantine hotel as Macau Covid cases near 360Parisian quarantine hotel as Macau Covid cases near 360 June 27, 2022
  • Covid-19 test certificate to enter Macau casinosCovid-19 test certificate to enter Macau casinos June 27, 2022
  • Jeju still studying online gaming for its casinos: govtJeju still studying online gaming for its casinos: govt June 24, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us