Scientific Games sells stake in Sportech and expands Hasbro deals

10 January 2014

Gaming solutions provider Scientific Games has confirmed the sale of its stake in pool and sportsbetting operator Sportech in a deal worth £27.8 million (€33.5 million/$45.6 million).

The deal to offload the company’s 39,742,179 shares in Sportech is expected to be finalised on January 14.

Meanwhile Scientific Games has also announced expansions to its long-term licensing agreements with toy and board game company Hasbro.

The licensing agreements have been extended from 2017 through to 2020, with the potential of an additional three-year extension.

Scientific Games said that the amended agreements provide it with access to new distribution channels, additional brands and extended geographic territories.

As reported by iGaming Business, Scientific Games completed the purchase of slot machine provider WMS Industries and its subsidiaries, including WMS Gaming, in October 2013.

“Expanding our licensing agreements and working more comprehensively with one of our most valued licensees allows us to build on our strong brand presence in the lottery and casino gaming world,” Hasbro’s senior vice-president of digital gaming and corporate development, Mark Blecher, said.

Steve Saferin, Scientific Games’ president, properties group and chief creative officer, added: “We know the importance of convergence in today's marketing environment, so we are gratified to expand our relationship with Hasbro and leverage opportunities that will arise from employing Hasbro brands with strong consumer appeal across multiple channels simultaneously.”

Related article: Scientific Games completes WMS Industries acquisition