Introduction
Our Global Technology Growth Star investment strategy this week looks at Scientific Games Corp. (SGMS). It is always revealing what management chooses for its first slide on an investor pack. Reducing debt was the theme clearly chosen by SGMS management for their first slide, and for good reason. Since a takeover of Bally Technologies in November 2014 SGMS has been groaning under the weight of $8.9 B in long term debt that costs $597 M per year in interest.
Will SGMS Debt Goals Happen?
Source: SGMS Q2 Investor Presentation
When you compare interest costs