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ap

Scientific Games plans offering of $125M notes

Scientific Games plans private offering of $125 million senior subordinated notes

  • On 10:15 am EDT, Thursday October 29, 2009

NEW YORK (AP) -- Scientific Games International Inc., a unit of Scientific Games Corp., said Thursday that it plans a private offering of $125 million senior subordinated notes due 2019.

The instant ticket and gaming equipment supplier plans to use the offering's proceeds for general corporate purposes, such as paying part of its possible obligations if it receives a new Italian instant ticket lottery concession, potential acquisitions, capital expenditures and to possibly repay part of its outstanding debt.

Earlier this week, the company said that CEO Joseph Wright plans to retire at year's end but will continue to serve on its board. It also reported a third-quarter profit decline.

Shares of Scientific Games gained 15 cents to $13.13 in morning trading.

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