SCPL - SciPlay activist concerned about possible new IP agreement with Light & Wonder

Activist investor Engine Capital, the second-largest holder of mobile-game maker SciPlay (NASDAQ:SCPL), said it's concerned about about ongoing IP negotiations with SCPL parent Light & Wonder. SciPlay (SCPL) believes that an extension of the company's IP agreement provides "little value" to the game maker and questions why Executive Chairman Barry Cottle, who is also CEO of Light & Wonder, wants SCPL to extend an agreement with an "unusual" upfront payment, according to a letter Engine Capital sent to the SciPlay board. Engine Capital, which has a 7.4% stake in SciPlay, is pushing for the SCPL to form a special committee to handle negotiations for an IP agreement and is also asking for the appointment of a new lead director. The Engine Capital letter comes after the activist first disclosed a stake in a 13D filing March and nominated two directors for the company's board. In April, SciPlay (SCPL) added Nick

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SciPlay activist concerned about possible new IP agreement with Light & Wonder