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, 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.
"Taking a long-term view of the business, Brookfield is committed to providing Scientific Games with the flexibility and agility necessary to expand our deep product portfolio to meet the evolving needs of our customers and their beneficiaries," McHugh added.
Brookfield Business Partners is a global business services and industrials company focused on owning and operating high-quality businesses that provide essential products and services to both the public and private sectors. Established in 1899, Brookfield is one of the world's most successful investment companies with more than $690 billion in assets under management.
The sale of Scientific Games Corporation's lottery business was announced in October 2021, and on March 1, 2022 its Gaming and iGaming business rebranded as Light & Wonder.
The sale of certain international Lottery Business subsidiaries (Scientific Games International GmbH, and its two subsidiaries) is awaiting regulatory approval in Austria, which is expected to be obtained by the end of the second quarter of 2022, with the transaction to be completed promptly thereafter.
Source: GMB
