Casino equipment provider Scientific Games Corp has made a proposal to acquire the remaining 19 percent of equity interest in digital gaming company SciPlay Corp that it does not currently own. If the deal is concluded, SciPlay would become a wholly-owned subsidiary of Scientific Games.
The proposal has already been submitted to the board of directors of SciPlay, Scientific Games said in a press release issued on Thursday.
Scientific Games’ proposed deal involves an all-stock transaction. It implies a premium of 11 percent based on the Scientific Games and SciPlay respective closing stock prices as of the close of business on Wednesday.
In the proposed transaction, SciPlay shareholders would receive 0.250 shares of Scientific Games’ common stock for each share of SciPlay Class A common stock they own.
“This proposed transaction is another important step forward on the strategy Scientific Games recently announced to become a content-led growth company with a particular focus on digital markets and unlock the value of the company’s products and technologies,” Scientific Games stated.
The firm announced in late June plans to divest itself of its lottery and sports betting businesses, as part of a company-wide strategic review. The U.S.-listed firm stated at the time it planned to focus on its land-based gaming, iGaming and SciPlay businesses.
Earlier this month, SciPlay acquired Koukoi Games Oy, a Finland-based developer and operator of casual mobile games.
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