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BAM - Brookfield Pays Less Than Jackpot In Lotto Deal
Brookfield Asset Management Inc.
Shareholders of betting firm Scientific Games are feeling the letdown.
The $9 billion firm run by Barry Cottle is offloading its lottery business to Brookfield for $6 billion.
The price Brookfield is paying, including earnouts if the business hits performance targets, comes in at around 13 times Scientific Games’s expectations for full-year adjusted EBITDA for the lottery business.