• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 29 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Caledonia investment a “vote of confidence” in Scientific Games: Union Gaming

Ben Blaschke by Ben Blaschke
Tue 15 Sep 2020 at 19:03
Gaming opportunities down but Scientific Games holds steady in 2Q19 on growth in international, online segments
38
SHARES
954
VIEWS
Print Friendly, PDF & Email

The US$1 billion investment in Scientific Games from a consortium led by Australia’s Caledonia (Private) Investments is a “vote of confidence” in the global gaming giant as it looks to emerge from the devastation of the COVID-19 pandemic.

The assessment was offered by boutique brokerage Union Gaming following confirmation this week that Scientific Games Chairman and largest shareholder Ronald Perelman had reached an agreement to sell the 34.9% stake held by his wholly-owned investment vehicle MacAndrews & Forbes Holdings Ltd.

In a Tuesday note, Union Gaming’s John DeCree said Caledonia’s investment was confirmation that Scientific Games is well-placed in the long-term in both the land-based as well as the digital and social spaces.

“While our confidence in the company’s long-term value and cash generating capabilities never wavered, this full refresh renews our confidence in the story and the company’s execution capabilities,” DeCree said.

“Caledonia has a strong track record in the industry. We have long been a supporter and believer in the Scientific Games portfolio of assets and the big swing by Caledonia is another vote of confidence in the company and affirmation of our long-term investment case.”

Increasing Union Gaming’s price target for Scientific Games shares, which grew 40% on Monday, from a target of US$27 to US$38, DeCree added, “While a 40% single-day run might seem like a good time to take some chips off the table, digital gaming in the US is red hot and we suspect Caledonia and its co-investors are playing for much more.

“We continue to believe there is significant underappreciated value and opportunity in the social gaming and digital business as well as an impending recovery in the gaming business with the original Aristocrat brain trust now fully aligned from the board to management.”

Caledonia’s acquisition will see Perelman and two other MacAndrews & Forbes Holdings Ltd representatives step down from the Scientific Games board, with former Aristocrat CEO Jamie Odell and CFO Toni Korsanos taking over as Executive Chairman and Executive Vice Chairman respectively.

The Sydney-based fund manager – whose current gaming interests include a US$2.5 billion position in UK online gaming firm Flutter Entertainment and US$200 million in fantasy sports leader DraftKings – was a major shareholder in Aristocrat during Odell’s tenure.

“This creates a unique alignment (at Scientific Games) where shareholders, board members, and executive management all have experience together,” DeCree said.

RelatedPosts

Australia’s Star Entertainment Group says available cash halved in December 2024 quarter as liquidity crunch bites again

Star Entertainment Group falls to AU$471.5 million loss in FY25 as remediation, regulatory hurdles continue to bite

Fri 29 Aug 2025 at 07:38
Resorts World Las Vegas – Lighting up the north

Recovery of VIP gaming business helps Genting’s Resorts World Las Vegas book improved revenues of US$180 million in 2Q25

Fri 29 Aug 2025 at 05:30
Solutions Showcase: Aristocrat – Game face on

Solutions Showcase: Aristocrat – Game face on

Thu 28 Aug 2025 at 10:37
Aristocrat’s acquisition of ETG supplier Interblock said to have stalled over price

Aristocrat Gaming launches new “positive play” website

Thu 28 Aug 2025 at 05:30
Load More
Tags: AristocratCaledonia (Private) InvestmentsGamingJamie OdellNorth AmericaRon PerelmanScientific Gamesslot machines
Share15Share3
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

All your sports entertainment with SABA Sports – always fair and sharp since 1998.

All your sports entertainment with SABA Sports – always fair and sharp since 1998.

by Newsdesk
Fri 29 Aug 2025 at 18:57

CLIENT PROMOTION Since 1998, SABA Sports has stood as the trusted backbone of the world’s most respected sports betting brands. Built on real-time intelligence and operational excellence, we have earned our reputation as the definitive partner for leading operators worldwide....

Newly appointed Thai PM Paetongtarn Shinawatra expected to continue pursuit of legalized casinos

Thai casino bill dead in the water as Constitutional Court removes Prime Minister Paetongtarn Shinawatra from office

by Ben Blaschke
Fri 29 Aug 2025 at 18:44

Thai Prime Minister Paetongtarn Shinawatra has been removed from office for ethics violations after the Constitutional Court ruled 6-3 against her on Friday. She becomes Thailand’s sixth Prime Minister to be removed by a court or legal ruling since 2008...

Australia’s Star Entertainment Group says available cash halved in December 2024 quarter as liquidity crunch bites again

Star Entertainment Group falls to AU$471.5 million loss in FY25 as remediation, regulatory hurdles continue to bite

by Ben Blaschke
Fri 29 Aug 2025 at 07:38

Australia’s Star Entertainment Group has reported a statutory loss of AU$471.5 million (US$308 million) for the financial year ended 30 June 2025, impacted by a 29% year-on-year decline in group-wide revenue including a 37% fall in gaming revenue. Although the...

Resorts World Las Vegas – Lighting up the north

Recovery of VIP gaming business helps Genting’s Resorts World Las Vegas book improved revenues of US$180 million in 2Q25

by Ben Blaschke
Fri 29 Aug 2025 at 05:30

Resorts World Las Vegas (RWLV), the US flagship of Malaysian gaming giant Genting Berhad, saw revenues grow by 8% quarter-on-quarter to US$180 million and EBITDA by 80% to US$18 million in 2Q25, with the company pointing to improved hold and...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語