- June 30, 2021
- Posted by: Stratford Team
- Category: Business
Scientific Games is selling off its sports betting business in order to focus on its core competency of gaming.
The B2B provider announced Tuesday it was divesting its lottery and sports betting businesses in separate transactions.
How will SG flip sportsbook business?
SG said it will consider:
- Traditional IPO
- SPAC transaction
- Straight sale
- Combination with another business
The company said it was looking at “all avenues” in order to maximize the value of the sales.
“We are very well advanced in the process,” a company spokesperson said Tuesday.
SG to focus on gaming
Following the divestitures, the SG business will consist of:
Proceeds from the sales will be used to pay down debt and invest in the remaining business.
Big deal for US sports betting
The announcement could have major ramifications in US sports betting, with SG supplying multiple operators. Current partners include:
Could one of them make a play to bring their…