|A joint corporation press release on Friday revealed that MacAndrews & Forbes Holdings, Inc., a holding company self-described as interested in make-up (Revlon, Inc.) and money, has acquired 24% of the preferred stock in Scientific Games Corporation. MacAndrews & Forbes will take over the interest that had been held by Cirmatica Gaming, S.A., a subsidiary of the Italian company, Lottomatica S.p.A. |
MacAndrews & Forbes paid about $194,000,000 for 24% of the equity and voting power of Scientific Games, whose CEO and Chairman, Lorne Weil, said: “We are delighted to have MacAndrews & Forbes signing on as a major investor. They bring a wealth of experience and ideas to the table and we look forward to a mutually rewarding relationship.” Meanwhile, Ronald O. Perelman, Chairman and CEO of MacAndrews & Forbes, said: “Scientific Games is an excellent, well-run company with great growth potential in an exciting industry. We are very enthused about the opportunities ahead of us.”
Scientific Games Corporation (NASDAQ:SGMS) is “a global technology leader in the pari-mutuel and lottery industries” with expertise in the management of lotteries using online technologies.