Scientific Games to Acquire Global Draw - - Tulsa, OK - News, Weather, Video and Sports - |

Scientific Games to Acquire Global Draw

NEW YORK (AP) _ Lottery and wagering equipment company Scientific Games Corp. said Monday it plans to acquire Global Draw Ltd., Britain's top supplier of fixed-odds betting systems, for an upfront payment of $183 million.

Under the nonbinding deal, Scientific Games said it could also pay an additional amount depending on Global Draw's financial performance down the road. The company plans to close the deal this quarter.

Global Draw's British gaming and betting machine operations reported 2004 revenue of 32 million British pounds (US$56.7 million).

Scientific Games expects to finance the acquisition with new debt and borrowings under an existing loan.

``Global Draw will give us a platform for accelerating our participation in sports betting and video lottery businesses globally,'' Chief Executive Lorne Weil said in a statement.
Powered by Frankly
News On 6
303 N. Boston Ave.
Tulsa, OK 74103 is proud to provide Oklahomans with timely and relevant news and information, sharing the stories, pictures and loves of Oklahomans across our great state.
All content © Copyright 2000 - 2018 KOTV. Oklahoma Traveler™ is a registered trademark of Griffin Communications. All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.