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Scientific Games Plans to Divest its Lottery, Sports Betting Businesses

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Scientific Games Plans to Divest its Lottery, Sports Betting Businesses

 

Scientific Games Corporation has announced that the Company, with the support of its Board of Directors, including Executive Chair Jamie Odell and Executive Vice Chair Toni Korsanos, intends to divest its Lottery and Sports Betting businesses.

Scientific Games is evaluating strategic alternatives to execute the divestitures for each business, respectively, including an initial public offering (IPO) or a combination with a special purpose acquisition company (SPAC), or a sale or a strategic combination with another business.

Jamie Odell, Executive Chair of Scientific Games, said: “When I joined the Board in September 2020, I told stakeholders that we were focused on rapidly de-leveraging the balance sheet, unlocking the value of the Company’s products and technologies and creating a flexible, nimble company positioned to deliver above-market returns to investors. Today, we have announced major initiatives aimed at achieving each of these key objectives, recognizing significant value in each of the businesses and positioning the Company for sustainable growth, all as a result of the dedicated work of our teams.”

Barry Cottle, President and CEO of Scientific Games, said: “Today’s announcement reflects key steps to optimize our portfolio and strengthen our balance sheet by significantly de-levering while also targeting investments in our largest growth opportunities. These steps will accelerate our path to become a content-led growth company focused on leading in both land-based and digital markets. Our company will be positioned to build great games that define the future of gaming, supported by platforms that power the best operators in the world. We believe these steps will enable us to capitalize on the high growth potential of each of our businesses, including their expanding digital content offerings and platforms, unlocking value for shareholders, customers, and employees. Each of our businesses will be better positioned to partner with their respective customers and to deliver long-term growth and profitability.”

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Mr. Cottle added: “At the conclusion of this process, the new company will consist of leading Gaming, iGaming and SciPlay businesses, all of which have great momentum and will collectively deliver great value. We will capitalize on the increasing convergence of these businesses, as players look to play their favorite games wherever and whenever they want to play. As the leading cross-platform global game company, we are uniquely positioned to take advantage of the incredible industry transition that is underway. Given this significant opportunity, we are targeting our digital businesses to be comparable in size to the land-based gaming business within three years. I’m confident that, with these steps, we are well positioned for future growth prospects.”

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Navajo Gaming Appoints John James as Chief Executive Officer

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Navajo Gaming has appointed John James as its Chief Executive Officer.

John James brings more than two decades of professional gaming and hospitality experience to Navajo Gaming. He previously served as CEO of River Rock Entertainment Authority in Geyserville California. There he exemplified his strong leadership skills by identifying and implementing innovative operational improvements to grow revenue while improving morale through thoughtful strategic direction and mentoring.

Prior to that, he led numerous tribal casinos including serving as CEO of Muckleshoot Casino Resort in Washington, CEO of Soboba Casino Resort in California, COO of Morongo Casino Resort & Spa in California, and CEO of Gila River Gaming Enterprises in Arizona. Additionally, he has served in leadership positions for Seminole Gaming Inc., Pechanga Resort and Casino, and various successful Station Casino properties.

As CEO of Navajo Gaming, John James will oversee and manage Navajo Gaming properties in New Mexico and Arizona, as well as ensure that Navajo Gaming policies and objectives are met. His three main objectives are to strengthen Navajo Gaming and the hospitality economy, return revenue to the Navajo Nation, and provide additional jobs to members of the Navajo Nation.

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“Navajo Gaming has grown to a multi-million-dollar enterprise over the past 15 years. John James brings extensive gaming and management experience and leadership qualities to lead Navajo Gaming. James has been widely recognized as the industry’s ‘best of the best’ for his exceptional strategic and positive impact. He will stimulate continued growth and success for Navajo Gaming as we remain focused on job creation and enhancing the Navajo economy,” Quincy Natay, Chairman of the Navajo Gaming Board of Directors, said.

“I am honored to serve Navajo Gaming’s team and guests under the stewardship of the board and alongside such a strong management team. Our industry is transforming rapidly and there is tremendous opportunity for Navajo Gaming to capitalize on opportunities, elevate guest experiences and solidify our reputation as exceptional destinations where memories are made,” John James said.

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Ocean Casino Resort to Open Olympics-themed Medal Bar

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Ocean Casino Resort announced the opening of Medal Bar: The Summer Games Pop Up Experience, located at 1927 Lounge on the casino floor across from The Gallery. Medal Bar’s opening ceremony will take place on Friday, June 28 hosted by Gold Medal Winning Gymnast, and member of Team USA’s Magnificent Seven, Dominique Dawes.

“We are so excited to embrace this celebratory global event as only Ocean can. From specialty themed cocktails and décor to iconic athletes and gaming activations; Medal Bar will be a must-see destination for our guests this summer,” Kelly Burke, SVP and Chief Marketing Officer for Ocean Casino Resort, said.

Located at 1927 Lounge, Medal Bar will offer an international flair with Americana spirit and a nod to the host country (Paris). Social moments and nostalgia will abound throughout the venue where guests can go for the gold in a myriad of ways including sipping worldly drinks and flights, playing games, cheering on their favorite athlete, and more. The festivities kick off on Friday, June 28 with an appearance by Olympic Gold Medal Winning Gymnast Dominique Dawes and will extend through Labor Day Weekend. Normal operating hours will be Thursday and Friday, 5 pm to 12 am, Saturday, 3 pm to 1 am and Sunday, 5 pm to 12 am. Medal Bar will be open daily from Friday, July 26 through Sunday, August 11 showcasing all of the thrilling events and competitions.

Guests can also celebrate the start of summer with the 3rd annual North Beach Fireworks Spectacular on Friday, June 28 at 9:30 pm. The demonstration, in partnership with Fireworks by Grucci, will showcase a dazzling ocean-front fireworks display presented by North Beach Atlantic City with several viewing locations including The Park and the world-famous Atlantic City Boardwalk. The event will be open to the public.

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National Voluntary Self-Exclusion Program (NVSEP) to Begin Free Self-Exclusion Assistance in Four US Jurisdictions

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idPair Inc., an award-winning provider of safer gambling technology, announced the upcoming launch of free self-exclusion assistance in Colorado, Iowa, Michigan, and Tennessee this August, as part of the first phase of the National Voluntary Self-Exclusion Program (NVSEP). Where states require a notarized form, a free remote online notary will be provided through the NVSEP platform to remove any cost for individuals. Importantly, there will be no changes to the respective state programs or how operators receive and process the self-exclusion information as part of this initiative.

Depending on the state, self-exclusion options will be available for casinos, online sports betting, online casino, online poker, fantasy sports, and/or horseracing. Each jurisdiction has its own unique gambling landscape, and individuals seeking to self-exclude are encouraged to visit www.NVSEP.com/jurisdictions to learn more, including which products and properties have a supported option.

Jonathan Aiwazian, CEO of idPair, said: “For the first time ever, individuals seeking a wider level of protection can self-exclude from multiple states in a streamlined fashion. While today we announce our ability to provide free assistance with self-exclusion in each of these 4 states, more jurisdictions are on the way, as we accelerate toward our goal of removing barriers for people seeking protection across all gambling jurisdictions and products.”

With future phases of NVSEP planning a deeper level of integration and potential to directly connect with the Player Account Management (PAM) systems of gambling operators, gambling regulators can one day ensure that voluntary self-exclusions are instantaneously processed, providing immediate protection for those who opt-in to the program, a major leap in efficiency to the current processing times in some existing programs.

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NVSEP’s announcement of assisting consumers with Colorado, Iowa, Michigan, and Tennessee self-exclusions is the first step in a broader effort to expand responsible gambling measures nationwide.

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