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Las Vegas-based Scientific Games today announced the sale of its sports betting and lottery businesses. The sale, which doesn’t yet have a buyer, is the central detail of the company’s resolution on upcoming games and content for the industry.
Scientific Games’ board of directors approved the strategy, which will result in lighter business targeting games and internet content, which will allow the company to grow in the virtual market. Scientific Games said it “aims to make our virtual businesses comparable in length to the earth in the gaming business within 3 years. “
“[T]he new corporation will be comprised of the leading gaming companies, iGaming and SciPlay, all of which have a wonderful momentum and together offer wonderful value,” Barry Cottle, President and CHIEF Executive Officer of Scientific Games, told reporters at the announcement. . .
Scientific Games joined the developing sports industry with the acquisition of NYX Gaming Group in January 2018, including OpenBet, which NYX had acquired prior to sg’s merger, leading to the progression of the company’s OpenSports platform.
Major sports betting uses OpenSports in a variety of ways, adding FanDuel, William Hill, WynnBET and Caesars. The platform is also used through sports betting corporations in Canada, the UK and Australia.
Scientific Games is known for its production of gaming assets, namely: automatic and mechanical slots, electronic card mixers, instant lottery games and gaming terminals. After consolidating the popularity of online gaming, the company has added gaming apps, interactive server games terminals, gaming systems, social gaming and online sports betting to its product line through various mergers and acquisitions.
The announced divestment of the company’s lottery and sports lines will allow the company to specialize in igaming and terrestrial products.
In 1974, Scientific Games brought the first secure instant lottery ticket and has temporarily become the lottery industry leader in hardware and technology. As a component of its lottery division, the company supplies lottery POS systems for Mega Millions, Powerball and other popular games.
With its announcement today, Scientific Games is driving the business forward. “These steps will drive our path to a content-driven expansion company that aims to lead the terrestrial and virtual markets,” Cottle said.
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