Scientific Games sub SciPlay files for IPO on Nasdaq

Scientific Games Corp. SGMS, +11.00% subsidiary SciPlay Corp. filed Friday to go public. The developer and publisher of digital games on mobile platforms has not yet determined the number of shares it will offer to the public or the expected pricing of the initial public offering, and has not provided the number of Class A or Class B shares that will be outstanding after the offering. The company has applied to have its Class A shares listed on the Nasdaq under the ticker symbol “SCPL.” The Class A shares will entitle holders to have one vote, while Class B shares will have 10 votes. Scientific Games will indirectly own all of the Class B shares. SciPlay had earnings of $39.0 million on revenue of $416.2 million in 2018, compared with earnings of $23.1 million on revenue of $361.4 million in 2017. BofA Merrill Lynch, J.P. Morgan and Deutsche Bank Securities are the lead underwriters of the IPO. SciPlay is looking to go public at a time that the Renaissance IPO ETF IPO, +0.11% has rallied 32% year to date while the S&P 500 SPX, +0.30% has gained 15%.

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