US gambling giant Scientific Games is talking to local equity capital markets teams as it targets a $5 billion-plus float on the ASX. It’s still in the pitching phase, but early signs are good and if it comes off it will be a home run for the ASX.
Just last week Jefferies analysts valued SciGames at eight to 12 times EBITDA. Given the company generated $570 million in earnings last year, the IPO could be bigger than the likes of Medibank Private and QR National (now Aurizon).
US gaming giant Scientific Games is thinking about Australia as a potential location for a $5 billion-plus initial public offering of its global lotteries business.
It’s getting to be slim pickings in the world of listed Australian infrastructure, so what better time to pitch a defensive growth story to fund managers.
