May 17, 2022

Brookfield buys Scientific Games lottery

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Brookfield Business Partners has completed the acquisition of Scientific Games’ global lottery services business.

The transaction allows Scientific Games to focus its attention on providing games, services and technology to the global lottery and lottery-administered sports betting markets.

The company will continue to operate under the Scientific Games name, which was established in 1973. Metro Atlanta will continue to serve as the company’s global headquarters and the entire executive leadership team will remain in place.

“This marks an exciting new chapter for Scientific Games and positions the company to build on the record growth we achieved in 2021 across all parts of our lottery business,” said Pat McHugh.

McHugh is a 25-year lottery industry veteran who will continue as CEO for Scientific Games after serving as lottery group chief executive under the previous company structure.

Brookfield Business Partners is a global business services and industrial company focused on owning and operating high-quality providers of essential products and services. Our operations are diversified across the industrial, infrastructure services and business services sectors.

Brookfield Business Partners has the flexibility to invest across multiple industries and through many forms. We acquire high-quality businesses and apply our global investing and operational expertise to create value focused on enhancing profitability, sustainable margins and sustainable cash flows.

Brookfield Business Partners’ investment objective is to generate long-term returns of 15%-20% on our investments.

Read also the news from HERE.