US gaming suppliers Scientific Games and Bally Technologies have announced the completion of their $5.1bn merger. The combined business will be led by Scientific Games president and chief executive officer Gavin Isaacs and will be made up of three operating units - Gaming, Lottery and Interactive.
Former Williams Interactive managing director Jordan Levin will take charge of the Interactive unit as president, overseeing the Scientific Games and Bally interactive social gaming operations, including Jackpot Party Social Casino, Gold Fish Social Slots, Dragonplay Slots, and Dragonplay Live Hold ‘Em Poker, and the Williams Interactive, Bally and SHFL real-money online gaming businesses.
The Lottery unit will continue to be led by James Kennedy, whose previous roles have included president of Printed Products and chief marketing officer of Scientific Games, while former Bally Technologies senior vice president of Games, Table Game Products and Interactive Research & Development, Derik Mooberry, assumes the role of group chief executive of the Gaming unit.
Gavin Isaacs, president and chief executive officer of Scientific Games, commented that the completion of the merger "brings together two exceptional organizations with a common culture of innovation and customer focus".
"Our mission is to become the premier gaming and lottery entertainment and technology company in the world by offering gaming and lottery operators a comprehensive and differentiated portfolio of high earning, player-appealing games and technology solutions," said Isaacs. “By leveraging our excellence in the development of imaginative gaming entertainment with value-added services, we seek to become the partner of choice for our gaming and lottery customers. Further, by pursuing continuous improvement in our business processes, we expect to enhance our margins, grow free cash flow to reduce our debt, and build long-term value for our stockholders."
Isaacs described the new management team as some of the most accomplished executives in the gaming, lottery and interactive industries.
"Our new organizational structure will focus on driving consistent and measurable progress on our goals of increasing profitable global growth and increasing free cash flow to pay down debt," Isaacs added. "The experience, leadership skill and commitment that each of our senior leaders brings to the company will be a significant influence in our integration efforts and development of solutions to bring value to our customers and shareholders."
Shares in Scientific Games Corporation (Co. Data) (NASDAQ:SGMS) closed in New York Friday up 3.54 per cent at $13.75 per share.