Scientific Games’ Divestment of Lottery and Sports Betting Businesses

Cravath, Swaine & Moore advised Scientific Games on the deal.

Scientific Games announced that it intends to divest its Lottery and Sports Betting businesses. Scientific Games is evaluating strategic alternatives to execute the divestiture for each business, respectively, including an initial public offering, or a combination with a special purpose acquisition company, or a sale or strategic combination with another business. 

Scientific Games Corporation (NASDAQ: SGMS) is the world leader in offering customers a fully integrated portfolio of technology platforms, robust systems, engaging content and services. The Company is the global leader in technology-based gaming systems, digital real-money gaming and sports betting platforms, table games, table products and instant games, and a leader in products, services and content for gaming, lottery and social gaming markets. 

The Cravath team is led by partners Robert I. Townsend III (Picture) and Jenny Hochenberg and includes associates Kelly M. Smercina, Fay E. Krewer and Eric S. Goodwin on corporate matters; partners Craig F. Arcella and Nicholas A. Dorsey and associates Lee M. Blum and Rachael E. Joseph on capital markets matters; partner J. Leonard Teti II and associates Peter W. Rogers and Luis Calderon-Gomez on tax matters; partner David J. Kappos, practice area attorney Anthony N. Magistrale and associate Carys J. Webb on intellectual property matters; partner Matthew J. Bobby, practice area attorney Sarah W. Colangelo and associates Jana I. Hymowitz and David Crampton on executive compensation and benefits matters; partner Matthew Morreale on environmental matters; and practice area attorney Brian M. Budnick on real estate matters. Nicholas P. Principato also worked on M&A matters.

Involved fees earner: Craig Arcella – Cravath Swaine & Moore; Lee Blum – Cravath Swaine & Moore; Matthew Bobby – Cravath Swaine & Moore; Brian Budnick – Cravath Swaine & Moore; Luis Calderon Gomez – Cravath Swaine & Moore; Sarah Colangelo – Cravath Swaine & Moore; David Crampton – Cravath Swaine & Moore; Nicholas Dorsey – Cravath Swaine & Moore; Eric Goodwin – Cravath Swaine & Moore; Jenny Hochenberg – Cravath Swaine & Moore; Jana Hymowitz – Cravath Swaine & Moore; Rachael Joseph – Cravath Swaine & Moore; David Kappos – Cravath Swaine & Moore; Fay Krewer – Cravath Swaine & Moore; Anthony N. Magistrale – Cravath Swaine & Moore; Matthew Morreale – Cravath Swaine & Moore; Peter Rogers – Cravath Swaine & Moore; Kelly Smercina – Cravath Swaine & Moore; J. Leonard Teti II – Cravath Swaine & Moore; Robert Townsend III – Cravath Swaine & Moore; Carys Webb – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: Scientific Games Corporation;

Author: Martina Bellini