Scientific Games Acquires ELK Studios to Boost iGaming Platform

In an exertion to long pillow its iGaming cognitive content portfolio, Scientific Games (NASDAQ:SGMS) is getting European games developer ELK Studios.

Financial terms of the dealings weren’t disclosed. The deal is piece of Scientific Games’ ongoing sweat to suit a player in the fast-growing domain of digital gaming.

The acquisition is the in style(p) in a cosmic string of important, targeted content-focused deals as the Company moves speedily to place inwards and develop its front in digital markets. By adding ELK Studios to its in-house games portfolio, the Company has further bolstered its mental ability for creating innovative, engaging iGaming content,” according to a statement.

Scientific Games said it plans to get ELK’s cognitive content to the US and Canadian markets. That’s spell boosting the Swedish company’s already warm perches inward Europe and the UK. ELK’s pop titles include Wild Toro II, Katmandu and Cygnus.

Rapid Transformation for Scientific Games

Entering this year, Las Vegas-based Scientific Games was primarily viewed by investors as a slot political machine manufacturer. It is the proprietor of the OpenBet sports betting political platform and one of the dominant names inward lottery services. That portfolio includes providing the systems used to bring forth Mega Millions and Powerball tickets.

Today, OpenBet and SG Lottery are departing the company’s portfolio, as it looks to slenderize debt and hone its sharpen on digital gaming. In September, the sports wagering political platform was sold to Endeavor Group Holdings, Inc. (NYSE:EDR), the parent keep company of the Ultimate Fighting Championship (UFC), for $1.2 1000000000 cash in and stock. A month later, SG Lottery was sold to Brookfield Business Partners LP (NYSE:BBU) for $6.05 billion.

Investors are warm up on the project to cut down debt and focussing on the fast-growing iGaming market. The keep company is making a serial of bolt-on buys to that effect, including the acquisitions of one-armed bandit developer Lightning Box and premium live casino solutions provider Authentic Gaming.

ELK Studios, which is profitable, testament process severally to generate young content. The statement doesn’t show when the dealing testament close.

Other Moves past Scientific Games

Scientific Games is making other moves to heighten its digital footprint.

For example, the company is attempting to acquire the 19 percent of social cassino developer SciPlay Corp. (NASDAQ:SCPL) it doesn’t already own. That offer up was made in mid-July, and no formal conclusion has been made past the target.

In August, Scientific Games said it’s acquiring Sideplay Entertainment inwards an travail to supply to its roster of internet lottery offerings. Sideplay brings a take as the primary feather supplier of eInstant games with the UK National Lottery, one of the biggest lottery groups inwards the world, to the table.

Even with a November go down of more than 20 percent, shares of Scientific Games are upwards 54 percent year-to-date.

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