SciPlay Corp, the social gaming arm of Scientific Games Corp, has taken a step closer to floating shares on Nasdaq.
SciPlay Corp, had sent the U.S. Securities and Exchange Commission a registration statement for its proposed initial public offering of a minority interest in that enterprise.
“The number of shares to be offered and the price range for the offering have not yet been determined,” the announcement said. “The company has applied to list its Class-A common stock on the Nasdaq Global Select Market under the ticker symbol SCPL,” Scientific Games stated.
“The company anticipates that the proceeds from the contemplated IPO would primarily be used to repay debt,” it said.
Scientific Games had said in November it had been considering an IPO for a minority interest in its social gaming business. “The social gaming business continues to experience rapid growth and has reached significant scale,” the firm stated at the time.
“An IPO would give us greater flexibility to pursue growth for the [social gaming] business and drive value for stakeholders,” Barry Cottle, president and chief executive of Scientific Games, had stated.