Scientific Games Australian Lotteries IPO Could Bring Up to $ 3 Billion

0

US provider of B2B gambling products and services Scientific games is planning to take its lottery business on the stock exchange in Australia, which professional industry analysts believe can bring the company as much profit as $ 3 billion in USD.

Scientific Games Australian Lottery IPO Likely to Succeed

The initial public offering operations are expected to be launched very soon, possibly even during this week. Scientific Games hopes to raise a minimum of $ 1 million from key investors who have preferred to remain anonymous for the time being.

Bloomberg specialists believe Scientific Games’ hypothetical initial public offering may skyrocket its business and place it among the top-ranked companies in the country.

Bloomberg News reported that, based on Scientific Games’ statements to its potential investors, its instant games business had a 69% share of the $ 101 billion US market. In addition, the B2B company’s retail solutions and systems business occupies nearly a third of the $ 184 billion market. Finally, Scientific Games’ iLottery brands represent 13% of the $ 26 billion industry.

B2B company could look for alternative solutions

There is a slight possibility that Scientific Games will change their mind and would rather explore other options for growth than going public. Company spokespersons have yet to make a statement on the matter.

The B2B company has already discussed a possible plan to expand its business through acquisitions, sales and mergers. This appears to be one of Scientific Game’s favorite alternatives to the IPO. In these lines, Scientific Games has decided to sell its sports betting brand OpenBet to the American holding company Endeavor Group Holdings for $ 1.2 billion in cash and shares.

2021 has been an eventful year for Scientific Games. The company has managed to secure numerous partnerships and interesting offers in various regions. The B2B business has also grown significantly and conquered more markets, both in the United States and beyond.

In September, Scientific Games inaugurated a new production center in the UK to meet the country’s strong demand. Also in Europe, the company quickly established itself in the new Dutch market thanks to a partnership with the Netherlands Lottery.

Scientific Games has also extended its reach to the United States with various agreements. The company recently signed a content agreement with White Hat Studios, the American brand of White Hat Gaming. A few days later, Scientific Games strengthened its agreement with Golden Nugget Online Gaming and deployed the OpenBet technology in Virginia and New Jersey and the OpenGaming platform in New Virginia.


Source link

Leave A Reply

Your email address will not be published.