Scientific Games Corp., a U.S. maker of slot machines, said on Wednesday that Canadian investment company Brookfield Business Partners will buy its lottery business for $6.05 billion.
The deal will consist of $5.825 billion in cash and an additional payment of up to $225 million based on achievement of certain profitability goals in 2022 and 2023. It is expected to close in the second quarter of next year, Scientific Games said.
With demand for online game surging during the pandemic, Las Vegas-based Scientific Games had earlier announced a plan to divest its lottery and sports-betting businesses to focus on gaming and digital content provider.
According to its website, it handles lottery games in more than 50 countries.
