Scientific Games Corporation has submitted a proposal to acquire the outstanding shares of its social gaming division SciPlay Corporation in a deal with an implied enterprise value of $1.9bn.
The proposal would see Scientific Games (SGMS) acquire the remaining 19% equity interest in the games developer that it does not currently own in an all-stock transaction, following which SciPlay would become a wholly-owned subsidiary.
SciPlay was previously the social division within SGMS until becoming an independent business, trading on the Nasdaq Stock Exchange, in 2019.
Read the full article at iGB North America.
