According to Bloomberg, Scientific Games, a company that provides technology for lotteries, has garnered attention from Brookfield Asset Management and Apollo Global Management as a possible acquisition target for its worldwide lottery operations.
Although no official statements have been made, sources indicate that both Brookfield and Apollo are contemplating bids. This development follows reports that Scientific Games is also investigating an initial public offering (IPO) for the division on the Australian Stock Exchange. The IPO, potentially raising over $3 billion, could even commence this week. It’s crucial to understand that Scientific Games hasn’t reached a final decision and may opt to keep the business.
This prospective sale is a component of a broader plan by Scientific Games to decrease its debt. Earlier this year, they revealed they were examining various possibilities for their lottery and sports wagering units, including SPAC mergers or strategic partnerships. This strategy was already in progress last month when Scientific Games divested its sports betting platform, OpenBet, to Endeavor Group Holdings for $1.2 billion.
