was punished in March,<\/a> as the industry shut down because of the COVID-19 pandemic. The name flirted with $32 in late February before tumbling below $4 the following month. The shares subsequently rebounded 452 percent off the lows seen in the third month of the year.<\/p>\nStriking Rich<\/h2>\n
In the 8-K filing, Scientific Games doesn’t mention receiving a takeover offer, unsolicited or otherwise. Nor does it confirm that Perelman is proceeding with paring his stake. Likewise, there hasn’t recently been scuttlebutt on Wall Street about the firm being an acquisition target.<\/p>\n
Put simply, the SEC document does no more than confirm a handful of executives will be lavishly compensated if they are separated from the company owing to a change in control.<\/strong><\/p>\n\n
If Perelman does sell his shares, freeing up a big chunk of the company’s float in the process, it’s possible potential buyers could at least kick the tires on Scientific games. The company has cash on hand, is slashing costs owing to the pandemic, and carries no debt \u2013 a rarity in the gaming business.<\/p>\n<\/div>\n
Plus, it still controls SciPlay Corp (NASDAQ:SCPL), the maker of mobile and online casino games that was spun out<\/a> from the parent firm last year. As of Wednesday’s close, that stake is worth $1.4 billion, indicating market participants aren’t fully factoring it into Scientific Games’ $1.9 billion market capitalization.<\/p>\n","protected":false},"excerpt":{"rendered":"Scientific Games (NASDAQ:SGMS) is providing opulent financial protection for top-ranking executives — including CEO and President Barry Cottle — in the event there’s a change in control at the gaming company in which C-suite members depart the firm. The Las Vegas-based company details a \u201cchange in control\u201d (CIC) protection protocol pertaining to Cottle, CFO Michael […]<\/p>\n","protected":false},"author":46,"featured_media":146250,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,32093],"tags":[],"acf":[],"yoast_head":"\n
Scientific Games Execs Will Get Big Paydays if They Leave After a Sale<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n