The valuation on what could be the biggest IPO capital raising in years is rising, as Scientific Games’ results show a sharp increase in revenue and profitability.
The turnaround strategy orchestrated by Caledonia Investments at debt-laden US gaming company Scientific Games is shaping up well, with the latest quarterly earnings pointing to a financial bonanza from its divestment strategy.
Based on the results, the SG Lotteries business could be sold for an equity valuation of between $11 billion and $14 billion.
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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com
