IPO Scientific Games is on the Way to $ 3 Billion
It was revealed that Scientific Games will soon begin an initial public offering in Australia for its international lottery business. As a result of this, an approximate amount of US $ 3 billion can be obtained.
Representatives of the company shared information that soon the organization can collect about 1.3 billion Australian dollars from key investors, accumulating its income to the maximum. In addition, this week the company may start trading its shares, which are estimated at 14 times higher than EBITDA.
Scientific Games announced in June that it is investigating the sale of lotteries and bookmakers through its merger with SPAC. Also, management is thinking about minimizing its debt. They see a way out of the situation in strategic sales and mergers with other businesses.
In the fall of this year, the company agreed to $ 1.2 billion in cash and shares. This was due to the implementation in the OpenBet market. Recall that this organization is engaged in sports gambling. The agreement was signed by the Endeavor Group. However, the deal itself should be closed only in the spring of 2022, by which time the parties must obtain approval from the country’s regulatory body.
Bloomberg reports that if this amount is approved in more than fifty countries, it will be the largest number of shares in Australia.
More recently, the IPO has included several small proposals, including a $ 653 million Australian investment by Judo Capital, an Australian $ 1.3 billion investment by GQG Partners, and an Australian $ 371 million investment by Vulcan Steel.
The lottery section IPO plan is targeting the 2020 purchase of Ronald Perelman’s stake in Scientific Games for a total of 35%. Recall that Perelman is a billionaire.
The organization’s administration said it had a 68% business share in America’s $ 101 billion markets.
Scientific Games for the retail and systems business in America has more than $ 184 billion in market value, with the iLottery business accounting for 13%.