Scientific Games has announced that investor Ron Perelman will sell a 34.9% stake in the supplier for more than $900m to a group of institutional investors.
Perelman’s investment fund, MacAndrews & Forbes, will sell the stake to investors including FTSE 250 member Caledonia Investments for $28.00 per share, in a deal that will also see two Aristocrat Leisure veterans join Scientific Games’ board.
“Scientific Games is well-positioned for future success given our industry leading portfolio of products and technologies, loyal customer base and talented leadership team,” Scientific Games chairman Barry Cottle said. “We are pleased to have the support of our refreshed Board and new investor base as we continue to execute on our strategy to drive meaningful long-term growth and shareholder value creation.”
In July, Perelman (pictured) filed a notice that he was considering divesting his entire stake.