Apollo and Brookfield Focus on Scientific Games’ Global Lottery Business
Scientific Games has sparked interest in its global lottery business from the private equity arm of Brookfield Asset Management Inc. and Apollo Global Management Inc., as reported by Bloomberg.
Bloomberg said representatives for Brookfield, Apollo and Scientific Games all declined to comment, but noted the interest reported is “according to people familiar with the matter.”
Scientific Games has reportedly been in talks with private equity firms over the potential sale of its lottery unit, while reports earlier this week said the company was considering a stock exchange listing in Australia. The initial public offering could raise an estimated AU $ 4 billion (US $ 3 billion), and the process of selling shares could begin this week.
Bloomberg added that a final decision on any sale has yet to be made, noting that Scientific Games could still decide to keep the unit.
Scientific Games said earlier this year that it plans to divest its lottery and sports betting units through a merger with a special purpose acquisition company, or through a strategic combination with another company, with the aim of to limit indebtedness.
And last month, the group reached a definitive deal to sell its sports betting business OpenBet to Endeavor Group Holdings, Inc. in a cash and stock transaction valued at $ 1.2 billion.