Tag Archives: Barry Cottle

Scientific Games protects executive team as Perelman mulls selling majority stake

Scientific Games Corporation (SGC) has adopted new controls to protect the firm’s leadership structures should majority investor Ronald Perelman move to fully divest his shareholding in the Nasdaq-listed gambling technology group. This story featured in today’s SBC News 90. To view the latest round-up, watch today’s edition here. Issuing a SEC filing, SGC governance revealed that it had updated its …

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Scientific Games records $198m loss as COVID swamps casino and lottery performance

Scientific Games Corporation (SGC) has published its Q2 trading statement, underlining that COVID-19 has impacted all core business channels, as the company recorded a net operating loss of $198 million. As previously communicated to markets, the Nasdaq technology group stated that pandemic disruptions have ‘affected comparability to previous trading periods’, as group Q2 revenues dropped from $845 million in Q2 …

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Scientific Games expands SGI debt placement to $550m 

Scientific Games Corporation (SGC) has confirmed that it will upsize its previously announced senior unsecured debt note placement from $350 million to $550 million.  The debt placement will be carried by SGC’s global operating unit Scientific Games International (SGI), priced at $550 million with an applied principal aggregate of 8.6% due for repayment in 2025. Net proceeds secured from the …

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Scientific Games confirms Michael Eklund as inbound Group CFO 

Williamson

Scientific Games Corporation (SGC) has confirmed the inbound appointment of Michael Eklund as Group Chief Financial Officer (CFO). Eklund will join SGC’s executive leadership team on 1 June, taking control of the Nasdaq technology group’s financial planning, auditing and capitalisation structures. The appointment sees SGC secure a leading CFO for large scale technology enterprises, with Eklund having previously led diverse …

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Scientific Games backs tough measures eyeing fast COVID-19 comeback

Scientific Games (SGC) has booked a net loss of $155 million as part of its Q1 2020 trading update, citing that COVID-19 disruptions have impacted all business channels.  Operating in unprecedented times, SGC has witnessed its land-based casino customers temporarily close their venues across all jurisdictions. Meanwhile, further COVID-19 disruptions have impacted the Nasdaq technology group’s commercial pipeline for SGC …

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Scientific Games appoints Rich Schneider as group product strategy lead

Nasdaq gambling technology supplier Scientific Games Corporation (SGC) has confirmed the appointment of Rich Schneider as Group Chief Product Officer (CPO). A key new hire for SGC, Schneider has joined the executive team from Australia ASX competitor Aristocrat, where he served as CPO leading creative studios, hardware and product development. Updating investors, SGC governance details that it has secured an ‘industry …

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Scientific Games secures $100m in Q2 2020 costs savings 

Scientific Games Corporation (SGC) has outlined strong progress for its corporate contingency programme to navigate global COVID-19 headwinds, adding that it expects to secure ‘$100 million in cost savings during Q2 trading’. This morning, the Nasdaq technology group issued new guidance to investors on its COVID-19 contingency programme triggered on 31 March 2020.    Focusing on reducing workforce costs, SGC has …

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Scientific Games leadership commits to salary cut to navigate COVID-19 headwinds

Barry Cottle, President and Group CEO of Scientific Games Corporation (SGC), has this morning issued a personal statement on the firm’s contingency planning and workforce actions to counter global COVID-19 impacts. Cottle has confirmed that SGC will implement a series of cost-savings measures seeking to secure long-term company jobs as it reduces workforce hours.  Drastic actions have seen the firm’s …

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Scientific Games maintains improved results despite costly 2019 closing

Publishing its Q4 2019 results, Nasdaq-listed gambling and lottery technology group Scientific Games Corporation (SGC) has recorded period net losses of $37 million (Q42018: $207m). In its trading statement, SGC noted that during the period company accounts recorded a $40 million loss on debt transactions related to corporate bonds and a ‘$12 million remeasurement’ of its Euro-denominated debt. SGC Q4 2019 …

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Scientific Games adds three new employees to its leadership team

Scientific Games has strengthened its leadership team by announcing three new additions to the company.  Matt Wilson will join the company as Executive Vice President and Group Chief Executive in March, while Siobhan Lane will assume the position of Chief Commercial Officer next month. Connie James has assumed the role of Chief Financial Officer, having started on the 6th of …

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