Scientific Games Sells Lottery Business for $6.05 Billion

This story was published more than 1 year ago.

Today Scientific Games Corporation announced today that they've come to terms with Brookfield Business Partners to sell its Lottery division to the latter group for $6.05 billion.

The deal will be for $5.825 billion in cash and an additional $225 million based on hitting EBITDA targets coming in 2022 and 2023. The deal is subject to regulatory and shareholder approvals.

Scientific Games' Lottery division is active in more than 50 countries with more than 130 different entities. It has different solutions for retail and online services as well as sportsbetting information.

Commenting on the sale Scientific Games Lottery CEO Patrick McHugh said, "We are thrilled with this outcome and what it means for the future of Scientific Games Lottery and our customers. I am confident that, with Brookfield's support, we will have the flexibility and agility to expand our deep product portfolio to meet our customers' evolving needs and maximize lottery beneficiary proceeds across the globe, enabling us to capture the significant opportunities we see ahead."

Brookfield Business Partners Managing Partner David Nowak added: "The Scientific Games Lottery team has built a leading business, which has innovated its industry, at the convergence of games, technology and services, across retail and digital channels for its global customers. With our capabilities and global reach, we look forward to supporting management in the continued growth of the business."

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.