The Forbes manager sells the shares of the gambling provider.

Majority shareholder and chairman of Scientific Games sells stake in the company to an Australian fund following a record loss in the first half of 2020; the brand’s revenue in the second quarter fell 36%, according to the Financial Times.
McAndrews & Forbes CEO Ron Perelman has decided to sell his investment as a result of the pandemic. According to the Bloomberg Billionaire Index, the businessman’s personal savings rate has fallen by more than half since 2018. The amount is now estimated at $ 8 billion.

In June, the company announced plans to place private bonds in the amount of $ 550 million to increase liquidity. Later, Perelman filed an application with the Securities and Exchange Commission, which refers to the sale of 39% of shares of Scientific Games, for a total of 36.8 million speech in the message Gambling Insider.
The gambling company is valued at $ 2 billion. According to preliminary data, the Australian investment fund Caledonia is a potential buyer.
Scientific Games had a net loss of $ 198 million in the second quarter of this year, compared with a reported $ 75 million last year, while the corporation had revenues of $ 539 million, down 36% from a year earlier. The USA has grown sharply compared to 2019, namely by 135%.

Scientific Games Corporation is an American corporation engaged in the supply of gaming products. The company’s clients are lottery and gambling organizers, headquartered in Las Vegas, Nevada.