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Scientific Games reviews ASX options to trim debt Share Australian Securities Exchange (ASX).
The Australian Financial Review (AFR) has reported that SGC has recruited Sydney-based investment bank Jarden Australia to draft the company’s pathway towards listing on the ASX. An ASX-listing is detailed as one option to address SGC’s long-term debt reduction, which currently registers at $9.5 billion – more than $4 billion over the firm’s market capitalisation of $5.40 billion. SGC’s corporate debt ballooned to $8.5 billion in 2014 following the firm’s leveraged acquisition of casino slot and games manufacturer Bally Technologies for $5.1 billion. The company’s debt-load further increased in 2018, as SGC undertook back-to-back acquisitions of ....
Two Casinos Sue Scientific Games Over Shuffle Master Business Practices 4 Min read A pair of Midwestern riverboat casinos have filed a class action antitrust lawsuit against Las Vegas-based Scientific Games Corporation, alleging monopolistic practices in the sale and marketing of Shuffle Master automatic card shufflers, which hold a dominant market share in that casino-equipment niche. DraftKings at Casino Queen is one of two Mississippi riverboat casinos suing Shuffle Master parent Scientific Games over allegedly illegal business practices involved with its automatic card shuffler products. (Image: G3Newswire) The lawsuit was filed by East St. Louis, Illinois’ Casino Queen, Inc., which operates as DraftKings at Casino Queen, and Marquette, Iowa’s Casino Queen Marquette, Inc., which operates under the same name and was once known as the Lady Luck Casino. ....
A Friendlier Legal Infrastructure is Accelerating the Growth of Online Gambling FinancialBuzz.com News Commentary Share this article Share this article NEW YORK, April 5, 2021 /PRNewswire/ The online gambling industry has seen steady growth in its popularity for several years. However, the pandemic and its consequences have pushed the demand even further. Two major segments of the online gambling industry are online gaming (i-gaming) and sports betting. Both have proved to be pandemic proof segments. The sports betting segment in particular has benefited from a continuously improving and friendlier legal infrastructure. As a result of the evident spike in demand, Morgan Stanley reported that it now projects that the domestic sports betting industry will reach revenues of about USD 7 Billion by 2025, a major increase from the USD 5 Billion projected in June 2018 and reiterated last December, Casino.org reports. Trident Acquisitions Corp. (NASDAQ: TDAC), DraftKings ....
Posted on 4 Lottery.com (the “Company”), a leading platform that allows its users to play the lottery online, announced today that Katie Lever has been appointed the Company’s first chief legal officer, who will be further supported by gaming compliance experts on the board of advisors, Mark Lipparelli and Ron Hopkinson. The Company is seeking to continue its expansion efforts and will leverage the combined legal and compliance expertise of these industry professionals to build the future of digital gaming. Lever previously served as General Counsel to some of the gaming industry’s largest global suppliers, including through the mergers of SHFL entertainment, Inc., Bally Technologies, Inc., Scientific Games Corp. and, most recently, as Chief Legal Counsel to Drew Las Vegas, a planned $4 billion integrated resort and casino on the Las Vegas Strip. She is a recognized gaming law specialist and an exper ....