US-based casino equipment and lottery services provider Scientific Games is to change the company’s US state of incorporation from Delaware to Nevada, the group announced in a release on 18 September.
It will be done via what the group termed a “reincorporation merger” involving a Nevada-based wholly-owned subsidiary of Scientific Games. The exercise is still subject to shareholder approval.
The firm did not explain further the reasoning behind the decision.
“The reincorporation merger will not result in any change in the company’s name, headquarters, business, management, location of offices, assets, liabilities or net worth, other than as a result of the costs incident to the reincorporation merger,” Scientific Games stated in the release.
It added: “Our management, including all directors and officers, immediately prior to the reincorporation merger will remain the same following the reincorporation merger”.
Scientific Games reported in July second quarter revenue of $766.3m, up by 5.1 percent from the prior-year period and above market expectations. The casino equipment maker and lottery services provider said the revenue growth was driven by its gaming and interactive segments.