Scientific Games may have “bigger things” in the works, including a strategic transaction, after announcing a management refresh on Monday, according to a note from Union Gaming.
The firm said the changes, which included the appointment of former Aristocrat CEO Jamie Odell as Executive Chairman and the entry of new investors including Caledonia, have provided more confidence in the company’s prospects and ability to execute its strategy.
SG said it would ramp up efforts to reduce debt, but Union Gaming said comments
“about optimizing the portfolio of assets through “transformative initiatives” leads us to believe that there are much bigger things in the works here, including possibly a strategic transaction involving one or more of its business segments.”
The firm reiterates its Buy rating on the stock and raises its price target to US$38 from US$27.
AstroPay is the pioneer payment solution for thousands of consumers in Latin America, Asia and Africa, who want to purchase online on international sites, that helps merchants access new markets through its main product, AstroPay Card.
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Consolidation of the bases and advancement in adversity was the thrust of Macau Chief Executive’s policy address for 2021, though it gave little away when it came to the current pillar of the economy - the gaming industry.
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