LAS VEGAS, March 5, 2019 /PRNewswire/ -- Scientific Games
Corporation (NASDAQ: SGMS) ("Scientific Games" or the "Company")
today announced that its wholly owned subsidiary, Scientific Games
International, Inc. ("SGI"), has priced $1,100.0 million of 8.250% senior unsecured notes
due 2026 (the "Notes") at an issue price of 100.000% in a
previously announced private offering.
Scientific Games intends to use the net proceeds of the Notes
offering to redeem approximately $1.0
billion of its outstanding 10.000% senior unsecured notes
due 2022 (the "2022 Notes"), pay accrued and unpaid interest
thereon plus any related premiums, fees and costs and pay related
fees and expenses of the Notes offering.
The Notes will be guaranteed on a senior basis by Scientific
Games and certain of its subsidiaries, and the Notes will not be
secured.
The offering is currently expected to close on March 19, 2019, subject to customary
conditions.
The Notes will not be registered under the Securities Act of
1933, as amended (the "Securities Act"), or any state securities
laws and, unless so registered, may not be offered or sold in
the United States except pursuant
to an applicable exemption from the registration requirements of
the Securities Act and applicable state securities laws. The Notes
will be offered only to persons reasonably believed to be qualified
institutional buyers in accordance with Rule 144A and to non-U.S.
Persons under Regulation S under the Securities Act.
This press release does not and will not constitute an offer to
sell or the solicitation of an offer to buy the Notes, nor will
there be any sale of the Notes in any state in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state. Nothing
in this press release should be construed as an offer to purchase,
notice of redemption or a solicitation of an offer to purchase any
of the outstanding 2022 Notes. This press release is being issued
pursuant to and in accordance with Rule 135c under the Securities
Act.
About Scientific Games
Scientific Games
Corporation (NASDAQ: SGMS) is the world leader in offering
customers a fully integrated portfolio of technology platforms,
robust systems, engaging content and services. The Company is the
global leader in technology-based gaming systems, digital
real-money gaming and sports betting platforms, table games, table
products and instant games, and a leader in products, services and
content for gaming, lottery and social gaming markets. Scientific
Games delivers what customers and players value most: trusted
security, creative entertaining content, operating efficiencies and
innovative technology. For more information, please visit
www.scientificgames.com, which is updated regularly with financial
and other information about the Company. The information contained
on, or that may be accessed through, our website is not
incorporated by reference into, and is not part of, this
document.
COMPANY CONTACTS
Investor Relations:
Michael Quartieri +1
702-532-7658
Executive Vice President and Chief Financial Officer
Media Relations:
Susan
Cartwright +1 702-532-7981
Vice President, Corporate Communications
susan.cartwright@scientificgames.com
Forward-Looking Statements
In this press release,
Scientific Games makes "forward-looking statements" within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995. Forward-looking statements describe future expectations,
plans, results or strategies and can often be identified by the use
of terminology such as "may," "will," "estimate," "intend," "plan,"
"continue," "believe," "expect," "anticipate," "target," "should,"
"could," "potential," "opportunity," "goal," or similar
terminology. These forward-looking statements include statements
related to the terms, timing and completion of the offering of the
Notes; the intended use of proceeds of the Notes offering; and the
completion of the partial redemption of the 2022 Notes. These
statements are based upon management's current expectations,
assumptions and estimates and are not guarantees of timing, future
results or performance. Therefore, you should not rely on any of
these forward-looking statements as predictions of future events.
Actual results may differ materially from those contemplated in
these statements due to a variety of risks and uncertainties and
other factors, including, among other things: the inability to
consummate the potential refinancing transaction on the terms
described herein or at all; the inability to otherwise reduce or
refinance our indebtedness; and the risk that we will not use the
proceeds in the manner anticipated.
Additional information regarding risks, uncertainties and other
factors that could cause actual results to differ materially from
those contemplated in forward-looking statements is included from
time to time in our filings with the SEC, including the Company's
current reports on Form 8-K, quarterly reports on Form 10-Q and its
latest annual report on Form 10-K filed with the SEC on
February 28, 2019 (including under
the headings "Forward-Looking Statements" and "Risk Factors").
Forward-looking statements speak only as of the date they are made
and, except for our ongoing obligations under the U.S. federal
securities laws, we undertake and expressly disclaim any obligation
to publicly update any forward-looking statements whether as a
result of new information, future events or otherwise.
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SOURCE Scientific Games Corporation