Scientific Games provides leading lottery tech to German operator
A new lottery gaming system has been rolled out in Germany to support the retail and growth plans of some of the country’s biggest lottery operators.
European Gaming reports that Scientific Games has rolled out its new Symphony lottery gaming systems technology with Lotto Baden-Wurttemberg.
The new system will power the lotto operator and its network of more than 3000 licensed retailers in Stuttgart and provide support for the lottery’s full line of lottery products including Lotto 6aus49, EuroJackpot, GlucksSpirale, Keno, Toto, Oddset sports betting and other instant games.
“As the first lottery worldwide to launch the latest generation Symphony platform, we are leading the way for other lotteries in the industry to understand the importance of systems technology and third-party integration capabilities for future growth,” Lotto Baden Wurttemberg’s Georg Wacker said.
“We are extremely pleased with our decision to continue collaborating with Scientific Games as our technology partner, and launch Symphony as our next-generation gaming system to support our retail and digital growth plans over the coming years.”
Lottery group chief executive for Scientific Games Pat McHugh said the Germany operator has demonstrated its trust in Scientific Games’ cloud-based omnichannel technology and its sustainable growth expertise.
“We congratulate Lotto Baden Wurttemberg on its decision to advance operations and be prepared for future challenges and positioned for sustainable growth,” vice president strategic sales and marketing, international lottery accounts for Scientific Games Matthias Muller said.
Australian fund purchases stake in Scientific Games
An Australian fund is poised to purchase a 34.9 per cent stake in Scientific Games.
Casino News Daily reported in September that the major provider of gambling products and services confirmed on Monday that Australian fund Caledonia will purchase the stake from MacAndrews and Forbes Incorporated.
MacAndrews and Forbes is managed by billionaire investor Ron Perelman, who said earlier this year he wanted a “less complicated and less leveraged business life” and has been looking for ways to reduce his portfolio as several of his companies have been impacted by the coronavirus pandemic.
Caledonia has reached an agreement with MacAndrews and Forbes to buy nearly 35 per cent of Scientific Games, at a price of $28 per share.
As a result of the transaction, Scientific Games said it would implement a series of governance changes and enhancements.
This will see the gambling technology giant revamp its board of directors and terminate its stockholders agreement with MacAndrews and Forbes.
Caledonia is a Sydney-headquartered global investment management firm.
Aside from its newly acquired stake in Scientific Games, the investor owns a 10.4 per cent stake in Dublin-based Flutter Entertainment, which owns major brands such as Paddy Power, PokerStars and Sky Betting.
Scientific Games said its board will be restructured to include all existing directors except its MacAndrews and Forbes representatives, as well as three new directors.
Former Aristocrat chief executive Jamie Odell and former Aristocrat chief financial officer Toni Korsanos will join the company’s board as executive chair and executive vice chair, respectively.
Mr Perelman, current executive chairman of the Scientific Games Board, will be serving as an additional independent non-executive director, while Barry Schwartz and Frances Townsend, the two other MacAndrews and Forbes representatives, will resign following the completion of the transaction.
Scientific Games said its revamped board will oversee the implementation of “transformative strategies” and will be working to optimise the company’s business portfolio and shareholder value.