Scientific Games Billionaire Chairman Looks To Sell 39% Stake

Scientific Games Billionaire Chairman Looks To Sell 39% Stake

It has been reported that billionaire chairman of game developer, slot provider and lottery firm Scientific Games is looking to sell his 39% stake in the company.

Ronald Perelman, an American businessman and investor, has reportedly filed a possible sale interest with the US Securities and Exchange Commission, an independent agency of the United States federal government.

The filing, made by MacAndrews & Forbes, Perelman’s diversified holding company, states that he may be looking to sell his shares in Scientific Games Corporation of more than 36 million.

Reportedly, the stock owned by Ronald Perelman has been valued at one and a half billion US dollars. However, the filing also states that the firm’s billionaire chairman has ‘not formulated any specific or definitive plan or proposal’ and that ‘there can be no assurance that any transaction will occur or as to the terms of any such transaction.’

Spokesperson Josh Vlasto of MacAndrews & Forbes commented on the news:

“Due to changes in the world both socially and economically, we have decided to reset MacAndrews & Forbes in a manner that will give us maximum flexibility both financially and personally. This will allow us to be opportunistic and flexible in looking at new situations.”

Two years ago, Ronald Perelman invested millions of dollars in Scientific Games in order to increase his stake. However, the corporation’s stock price majorly declined four months ago due to the Covid-19 pandemic. It is unclear whether this has been a major factor in the decision making process.

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