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SCPL - Why Scientific Games Is Soaring and SciPlay Is Tumbling Today
SciPlay Corporation
Shares of Scientific Games (NASDAQ: SGMS) were jumping 9.2% higher in morning trading Thursday after the global gaming company withdrew its offer to buy the remaining 19% interest in SciPlay (NASDAQ: SCPL) that it doesn't already own.
SciPlay stock plunged 18% on the announcement. The deal had been announced in July as an all-stock offer at a price of 0.250 shares of Scientific Games for each share of SciPlay owned. Scientific Games will retain its 81% equity interest in SciPlay.