- In 2021, SG sold its sports betting division to Endeavor Group Holdings (NYSE: EDR) for $1.2 billion, and sold its lottery division to Brookfield Business Partners (NYSE: BBU) for $6.1 billion. As the divested lottery business took the Scientific Games name, the company announced in March 2022 that it would rebrand as Light & Wonder (LNW).
** charts after earnings **
- Reports Q1 (Mar) loss of $0.26 per share, $0.21 worse than the S&P Capital IQ Consensus of ($0.05); revenues rose 3.1% year/year to $837 mln vs the $832.28 mln S&P Capital IQ Consensus.
- On May 7, 2019, the Company completed the initial public offering of a 17.4% minority interest in its Social gaming business, SciPlay Corporation. SciPlay is trading on The NASDAQ Global Select Market under the ticker symbol "SCPL". Scientific Games received $301 million in proceeds from the offering, which enables us to make substantial payments to reduce debt. The Company believes the offering provides SciPlay greater flexibility to pursue additional growth initiatives.
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