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News Breaks
January 31, 2013
07:45 EDTSGMS, WMSScientific Games to host a conference call
Conference call to discuss a definitive agreement to acquire WMS Industries will be held on January 31 at 8 am. Webcast Link
News For SGMS;WMS From The Last 14 Days
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October 30, 2014
16:17 EDTSGMSScientific Games raises view of cost synergies from Bally deal
Scientific Games said, "In addition to the progress being made with the WMS integration, we are focused on the potential to meaningfully increase free cash flow following the Bally acquisition, which we continue to anticipate closing this quarter, and deploying our free cash flow to reduce net debt. Reflecting the superb efforts of our integration teams, our plans are now expected to yield greater expected financial savings than originally anticipated. As a result, we are increasing our estimate of annual cost synergies anticipated to be realized from the pending Bally transaction by the end of 2016 from $220M to $235M. In addition, we now expect to realize an additional $15M in annual cost synergies from the WMS acquisition, bringing the total to $115M in annual cost savings by the end of 2015, of which slightly more than half has been achieved to date. We expect to incur an additional $3M of costs to achieve the additional $15M of expected WMS cost synergies and an additional $4M of costs to achieve the incremental $15M of anticipated cost synergies from the pending Bally acquisition."
16:15 EDTSGMSScientific Games reports Q3 EPS with charges (82c), consensus (35c)
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October 27, 2014
10:50 EDTSGMSScientific Games ends $3.19B loan offering, Bloomberg says
Banks that were hired by Scientific Games (SGMS) to sell $3.19B of loans failed to attract interest from investors before an October 3 deadline, says Bloomberg. The loan sale would have been used to help Scientific Games finance its purchase of Bally Technologies (BYI), added Bloomberg. Shares of Scientific Games are lower by almost 11% while Bally Technologies is lower by almost 3% in morning trading. Reference Link

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