Scientific Games Closes $5.1 Bln Merger With Bally

(RTTNews) - Scientific Games Corp (SGMS) said Friday it completed the merger with Bally Technologies Inc. The aggregate transaction value was about $5.1 billion, including the refinancing of nearly $1.8 billion of existing Bally net debt.

"We are excited by the opportunities that will be created by combining each organization's core strengths in developing engaging gaming entertainment products, advanced technologies and systems, and providing value-added services to help our customers grow their revenues," said Gavin Isaacs, Chief Executive Officer of Scientific Games.

Scientific Games also announced its executive leadership team that will oversee an organization comprised of three operating units: Gaming, Lottery and Interactive.

In addition to CEO Gavin Isaacs, and Executive Vice President and Chief Financial Officer, Scott Schweinfurth, the executive leadership team of Scientific Games will include Derik Mooberry, Group Chief Executive, Gaming; James Kennedy, Group Chief Executive, Lottery; and Jordan Levin, President, Interactive.

Mooberry, with more than 20 years of gaming industry experience, was most recently Senior Vice President of Games, Table Game Products and Interactive Research & Development at Bally. He also oversaw Bally's business in Mexico and South America.

Kennedy, with nearly 30 years of lottery industry experience, will continue to serve as Group Chief Executive, Lottery. He previously served as President, Printed Products, and Chief Marketing Officer for the company.

Levin has served as Managing Director, Williams Interactive at Scientific Games since January 2014, having previously been Chief Operating Officer of Williams Interactive, a subsidiary of WMS Industries Inc. ("WMS") (acquired by Scientific Games in October 2013).