- Scientific Games Subsidiaries List
- Scientific Games Subsidiaries
- Scientific Games Subsidiaries Meaning
LAS VEGAS, July 1, 2020 /PRNewswire/ -- Scientific Games Corporation (NASDAQ: SGMS) ('Scientific Games' or the 'Company') today announced that its wholly owned subsidiary, Scientific Games International, Inc. ('SGI'), successfully completed a private offering of $550.0 million in aggregate principal amount of new 8.625% senior unsecured notes due 2025 (the 'Notes') at an issue price of 100.000%.
SCIENTIFIC GAMES CORPORATION SUBSIDIARIES. All subsidiaries are 100% owned unless otherwise stated. Scientific Games International, Inc. (Delaware) MDI Entertainment, LLC (Delaware) Scientific Games Products, Inc. (Delaware) Scientific Games SA, Inc. As a part of their initial public offering, SciPlay, Scientific Games' former social games subsidiary, has begun trading on the New York Nasdaq global stock exchange. They have commenced their business odyssey by launching 22 million shares of Class A common stock. SCIENTIFIC GAMES CORPORATION AND SUBSIDIARIES. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited, in millions) Three Months Ended. Nine Months Ended. September 30, September 30, 2020. All the Scientific Games subsidiaries that work on online games development are keeping up with the latest technology and trends and are delivering some great titles with improved graphics work so the players, in the end, get the full quality product. Apart from slot machines.
The net proceeds of the Notes offering will be used to redeem all $340.6 million of SGI's outstanding 6.625% senior subordinated notes due 2021 (the '2021 Notes'), to pay accrued and unpaid interest thereon plus any related premiums, fees and expenses, to pay related fees and expenses of the Notes offering and to fund working capital and for other general corporate purposes.
The Notes are guaranteed on a senior basis by Scientific Games and certain of its subsidiaries, and the Notes are not secured.
Scientific Games Subsidiaries List
The Notes have not been registered under the Securities Act of 1933, as amended (the 'Securities Act'), or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. The Notes are offered only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A and to non-U.S. Persons under Regulation S under the Securities Act.
This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor will there be any sale of the Notes in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Nothing in this press release should be construed as an offer to purchase, notice of redemption or repurchase or a solicitation of an offer to purchase any of the outstanding 2021 Notes. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
About Scientific Games
Scientific Games Corporation (NASDAQ: SGMS) is the world leader in offering customers a fully integrated portfolio of technology platforms, robust systems, engaging content and services. The Company is the global leader in technology-based gaming systems, digital real-money gaming and sports betting platforms, table games, table products and instant games, and a leader in products, services and content for gaming, lottery and social gaming markets. Scientific Games delivers what customers and players value most: trusted security, creative entertaining content, operating efficiencies and innovative technology. For more information, please visit www.scientificgames.com, which is updated regularly with financial and other information about the Company. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not part of, this document.
COMPANY CONTACTS
Investor Relations:
Trent Kruse +1 702-532-7641
Senior Vice President, Investor Relations
Media Relations:
Christina Karas +1 702-532-7986
Director, Corporate Communications
media@scientificgames.com
Forward-Looking Statements
In this press release, Scientific Games makes 'forward-looking statements' within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results or strategies and can often be identified by the use of terminology such as 'may,' 'will,' 'estimate,' 'intend,' 'plan,' 'continue,' 'believe,' 'expect,' 'anticipate,' 'target,' 'should,' 'could,' 'potential,' 'opportunity,' 'goal,' or similar terminology. These forward-looking statements include statements related to the terms, timing and completion of the offering of the Notes; the intended use of proceeds of the Notes offering; and the completion of the redemption of the 2021 Notes. These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of timing, future results or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks and uncertainties and other factors, including, among other things: the inability to consummate the potential refinancing transaction on the terms described herein or at all; the inability to otherwise reduce or refinance our indebtedness; and the risk that we will not use the proceeds in the manner anticipated.
Additional information regarding risks, uncertainties and other factors that could cause actual results to differ materially from those contemplated in forward-looking statements is included from time to time in our filings with the SEC, including the Company's current reports on Form 8-K, quarterly reports on Form 10-Q and its latest annual report on Form 10-K filed with the SEC on February 18, 2020 (including under the headings 'Forward-Looking Statements' and 'Risk Factors'). Forward-looking statements speak only as of the date they are made and, except for our ongoing obligations under the U.S. federal securities laws, we undertake no obligation and expressly disclaim any obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.
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SOURCE Scientific Games Corporation
Scientific Games Subsidiaries
SciPlay Corporation, the social gaming subsidiary of Scientific Games, has filed a registration statement with the US Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO) of a minority interest in its business.
Scientific Games Subsidiaries Meaning
The number of shares that will be offered nor the price range for the share are yet to be determined though, it has been confirmed that SciPlay has applied to list its Class A common stock on the NASDAQ Global Select Market under the ticker symbol ‘SCPL'.
Should SciPlay proceed with the offering, Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities, Deutsche Bank Securities, Goldman Sachs & Co., Morgan Stanley & Co., Macquarie Capital (USA) Inc. and RBC Capital Markets, would act as book-running managers for the offering.
Stifel, Nicolaus & Company, Incorporated and Wedbush Securities Inc. would also act as co-managers for the proposed offering.
The supplier first revealed plans to spin off its social gaming division in November last year, saying at the time that the IPO would allow it to 'provide greater flexibility to pursue additional growth initiatives' and 'unlock additional value' for its shareholders. It said that proceeds from the offering would be used to pay down the company's net debt, which stood at $9.1bn (£6.97bn/€8.10bn) at December 31, 2018.
The move comes after Scientific Games in February revealed a year-on-year rise in social gaming revenue for the 12 months to December 31, 2018. Revenue for this area of the business grew 14.9% to $415.9m.
Digital revenue more than trebled to $269.6m, helping push overall revenue up 9.1%, despite a marginal decline in gaming revenue – down 0.7% to $1.8bn. 1000 bonus casino.
However, Scientific Games still posted a loss of $352.4m for 2018, up 45.4% on the previous year, as operating costs grew at a similar rate as revenue during the year.
