SG Chairman To Sell Stake In Casino Games Company

Briony O’Neill -

Ronald Perelman, the American billionaire and chairman of Scientific Games is reportedly ready to sell off his stake in the company. Perelman owns a 39% stake in Scientific Games which is a leading developer of casino games, slots, lotteries and other technology platforms for the gaming industry.

iGaming Takes a Hit

Due to the ongoing worldwide health crisis and the closure of many gaming venues around the globe, Scientific Games’ has seen a plunge in their stock price over the past four months, alongside a variety of major casino brands. It is unclear as to if this is what has prompted Perelman’s diversified holding company, MacAndrews & Forbes, to relook their position financially. As MacAndrews & Forbes files a possible sale interest of Perelman’s 39% stake in Scientific Games, the company says it is looking to relook its investment options in a way that ensures maximum flexibility.

The filing by the American businessman and investor was done recently with the US Securities and Exchange Commission, which is an independent agency of the United States government. However, no assurance has been given to the terms of any sale transaction or if indeed a sale will eventually actually occur. Two years ago, Perelman increased his stake in casino games developer Scientific Games by millions of dollars, with his current stock in the company reportedly valued at around one and a half billion US dollars.

A Pioneering Casino Provider

The US-based Scientific Games is a world-leader in the online casino space and is currently headquartered in Las Vegas, Nevada, although the brand employees more than 9,500 people all across the globe. Committed to innovation, Scientific Games has been at the forefront of transitioning the casino industry to a new normal, specifically through the brand’s new advanced technology for player payment.

Earlier this year, Scientific Games announced the launch of its new contactless technology which offers players a range of cashless contactless payment options via a unified wallet. Taking a mobile first approach, and available to all of Scientific Games’ industry partners, the new technology allows players to pay for slots and casino games in retail spaces through their mobile phone, ensuring maximum social distancing while providing a secure method of payment. In addition, Scientific Games has also offered their partners new ways for them to ensure sensitisation protocols are met through new automatized sanitisation technology and pre-scheduled sanitisation options.