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Benzinga
Benzinga
Business
Anusuya Lahiri

Why Are SciPlay Shares Trading Lower Premarket?

  • SciPlay Corp (NASDAQ:SCPL), the maker of mobile and web games, could not reach an agreement with the majority owner Scientific Games Corp (NASDAQ: SGMS), regarding the offer.
  • Scientific Games, a prominent supplier to the gambling industry, expressed its withdrawal from the offer.
  • The two sides failed to come to terms after a special committee of SciPlay's board rejected Scientific Games' initial stock-swap offer.
  • Scientific Games, which already owned 81% of SciPlay, had offered 0.25 of its shares for each share of SciPlay it did not already hold.
  • Price Action: SCPL shares traded lower by 17.1% at $12.82 in the premarket session on the last check Thursday.
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