weather icon Clear

Scientific Games looks to buy out SciPlay shares in stock deal

Las Vegas-based Scientific Games Corp. has proposed buying the remaining 19 percent equity interest in SciPlay Corp. it doesn’t already own in an all-stock deal detailed by the company Thursday.

In an email to Las Vegas-based SciPlay’s board of directors, Scientific offered 0.250 shares of Scientific common stock for each share of SciPlay Class A common stock they own, which would imply an enterprise value of $1.9 billion.

The transaction also implies a premium of 11 percent based on the Scientific’s and SciPlay’s respective closing stock prices as of the close of business on Wednesday, the last trading day prior to the proposal.

SciPlay shares, traded on the Nasdaq exchange, climbed more than 10.5 percent, $1.62, to close at $16.98 a share on Thursday.

SciPlay is a social casino game developer with seven games in its portfolio and is considered a subsidiary of Scientific Games.

Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on Twitter.

Longtime MGM executive picked to be GM of the Palms

Longtime MGM Resorts International executive Cynthia Kiser Murphey is the new general manager of the Palms, the off-Strip resort acquired by the San Manuel Band of Mission Indians.