Scientific Games Eyes Australian Listing

Scientific Games Corp. is considering pursuit of a listing on the Australian Stock Exchange as a way to help raise funds and reduce the company’s debt.

Scientific Games Eyes Australian Listing

Las Vegas-based gaming supplier Scientific Games is considering pursuit of a listing on the Australian Stock Exchange to raise funds and reduce debt.

According to the Australian Financial Review’s Street Talk, SG has engaged Sydney-based investment bank Jarden Australia to look at what this would mean for the company.

The supplier, currently listed on Nasdaq, is carrying $US9.43 billion debt, according to S&P Global Markets research. The company has tapped Jarden to calculate the value of a possible initial public offering on the ASX. Australia’s equity capital markets are open to new floats, and shares in gaming companies are trading at all-time highs.

The company looks to Australia as an increasing number of former executives of Australia-based Aristocrat have joined the company, beginning with Chairman Jamie Odell, the former Aristocrat CEO and Vice Chairwoman Toni Korsanos, another former Aristocrat Leisure executive.

According to Street Talk, another Australian connection is Sydney-based fund manager Caledonia (Private) Investments, which spearheaded a consortium that invested $US1 billion in Scientific Games last year. Odell was also part of the consortium.