Scientific Games looks to accelerate growth in interactive business

Scientific Games Corporation has designated its wholly owned interactive social gaming subsidiaries, including Dragonplay and Phantom EFX, as unrestricted subsidiaries under its debt agreements, with the goal of maximising growth for the company.

The group said it will consider a range of options to “solidify its leadership in this fast growing segment”, including potential new joint ventures, acquisitions, IPO and other growth options.

Following unrestricted designation, the social gaming entities will remain wholly owned by Scientific Games and continue under the leadership of Barry Cottle, chief executive of the company’s interactive division, and Jordan Levin, president of the division.

Following our company’s third consecutive quarter of revenue growth, we see this as a perfect time to accelerate momentum and explore additional opportunities to deliver greater value from this strong and rapidly growing segment of our business.

Our industry leading investment in innovation is paying off,” said Kevin Sheehan, CEO and president of Scientific Games. “Following our company’s third consecutive quarter of revenue growth, we see this as a perfect time to accelerate momentum and explore additional opportunities to deliver greater value from this strong and rapidly growing segment of our business.”

Scientific Games’ social gaming business has generated sequential double-digit growth in each of the most recent three quarters and a 68 percent increase in revenue year-over-year for the most recent quarter.