{"id":264,"date":"2024-06-27T18:58:27","date_gmt":"2024-06-27T15:58:27","guid":{"rendered":"https:\/\/trueffortunecasinonodepositbonus.icu\/2024\/06\/27\/science-games-corporation-abandons-sciplay-acquisition\/"},"modified":"2024-06-27T18:58:27","modified_gmt":"2024-06-27T15:58:27","slug":"science-games-corporation-abandons-sciplay-acquisition","status":"publish","type":"post","link":"https:\/\/trueffortunecasinonodepositbonus.icu\/2024\/06\/27\/science-games-corporation-abandons-sciplay-acquisition\/","title":{"rendered":"Science Games Corporation Abandons SciPlay Acquisition"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/7257XAerJ-M\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Science Games Corporation (SGC) has pulled back its offer to obtain the remaining 19% interest in its SciPlay social gaming division in a stock-for-stock deal.<\/p>\n<p>SGC has chosen to abandon the proposition to purchase the remaining 19% stake in its SciPlay social gaming division.<\/p>\n<p>Last July, SGC proposed to acquire all of the SciPlay shares it did not already possess.<\/p>\n<p>The transaction implied an enterprise value of $1.9 billion and would have provided SciPlay shareholders, excluding SGC, 0.25 shares of SGC stock for each 1 share of SciPlay stock they held.<\/p>\n<p>However, SGC ultimately decided to retract the proposal, which will leave SGC with an 81% financial interest and 98% voting power in SciPlay.<\/p>\n<p>SciPlay was initially the social division within SGC until it became a separate entity in 2019 and was listed on the Nasdaq Stock Market.<\/p>\n<p>&#8220;Based on our capital management and controlled M&#038;A approach, we believe that continuing to pursue this opportunity is not in the best interest of our investors at this time,&#8221; said Barry Cottle, SGC President and CEO.<\/p>\n<p>&#8220;We remain dedicated to our strategy of developing excellent games across platforms, utilizing our unmatched portfolio of popular franchises, world-class talent, and premium content engine.&#8221; <\/p>\n<p>SciPlay is a prized possession with the potential to generate substantial value as its social gambling market share grows. They aim to leverage their proficiency in engagement and revenue generation to enter the $20 billion casual gaming sector. <\/p>\n<p>They will continue to invest in this area strategically, prioritizing capital management and allocating resources to enhance earnings per share.<\/p>\n<p>This move follows a series of acquisitions by SGC, including the recent purchase of Swedish game developer Elk Studios and the acquisition of casino solutions provider Authentic Gaming in November 2021. This marked their initial foray into the live casino market.<\/p>\n<p>Last October, SGC also agreed to sell its lottery business to private equity firm Brookfield Business Partners for $6.05 billion. Their sports betting division will be sold to IMG Arena owner Endeavor.<\/p>\n<p>SGC stated that the proceeds from the lottery business sale will enable them to expedite their growth strategy. This includes decreasing their debt, investing in their core operations, and pursuing digital acquisitions to improve shareholder returns. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Science Games Corporation (SGC) has pulled back its offer to obtain the remaining 19% interest&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SciPlay Deal Off: SGC Abandons Acquisition<\/title>\n<meta name=\"description\" content=\"Science Games Corporation (SGC) has withdrawn its offer to buy the remaining 19% stake in its SciPlay social gaming division.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trueffortunecasinonodepositbonus.icu\/2024\/06\/27\/science-games-corporation-abandons-sciplay-acquisition\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Science Games Corporation Abandons SciPlay Acquisition\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Science Games Corporation (SGC) has withdrawn its offer to buy the remaining 19% stake in its SciPlay social gaming division.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/trueffortunecasinonodepositbonus.icu\/2024\/06\/27\/science-games-corporation-abandons-sciplay-acquisition\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Stay Informed with Our In-Depth Casino News &amp; Licensed Gaming\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-27T15:58:27+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/trueffortunecasinonodepositbonus.icu\/2024\/06\/27\/science-games-corporation-abandons-sciplay-acquisition\/\",\"url\":\"https:\/\/trueffortunecasinonodepositbonus.icu\/2024\/06\/27\/science-games-corporation-abandons-sciplay-acquisition\/\",\"name\":\"SciPlay Deal Off: SGC Abandons Acquisition\",\"isPartOf\":{\"@id\":\"https:\/\/trueffortunecasinonodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-27T15:58:27+00:00\",\"dateModified\":\"2024-06-27T15:58:27+00:00\",\"author\":{\"@id\":\"https:\/\/trueffortunecasinonodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Science Games Corporation (SGC) has withdrawn its offer to buy the remaining 19% stake in its SciPlay social gaming division.\",\"breadcrumb\":{\"@id\":\"https:\/\/trueffortunecasinonodepositbonus.icu\/2024\/06\/27\/science-games-corporation-abandons-sciplay-acquisition\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/trueffortunecasinonodepositbonus.icu\/2024\/06\/27\/science-games-corporation-abandons-sciplay-acquisition\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/trueffortunecasinonodepositbonus.icu\/2024\/06\/27\/science-games-corporation-abandons-sciplay-acquisition\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/trueffortunecasinonodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Science Games Corporation Abandons SciPlay Acquisition\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/trueffortunecasinonodepositbonus.icu\/#website\",\"url\":\"https:\/\/trueffortunecasinonodepositbonus.icu\/\",\"name\":\"Stay Informed with Our In-Depth Casino News &amp; Licensed Gaming\",\"description\":\"Immerse yourself in the dynamic world of online gambling through our regularly updated news, honest game reviews, and informative insights. 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