Scientific Games Acquires SportCast to Redefine Sports Betting Experiences
Acquisition adds BetBuilder feature, underlying technology and quantitative trading models to the OpenSportsTM product suite
LAS VEGAS – MAY 26, 2021 – Scientific Games Corporation (NASDAQ: SGMS) (“Scientific Games” or the “Company”) strengthened its global suite of sports technology, services and content with the acquisition of SportCast, the pioneers of sports betting experiences that encompass outright betting, through to pre-match and in-play.
Founded in 2013, SportCast is widely recognized as the leader in sports betting player engagement through their product experiences, technologies and pricing. They are also credited with developing the original BetBuilder product, a feature that allows players to build bets across multiple markets on a single game with instant pricing through a seamless User Interface (UI).
Keith O’Loughlin, EVP Sports for Scientific Games commented, “For sports fans, the ability to define the story of the game, bet on it and watch it live has become a thrilling way to engage in the action. SportCast’s technology and platforms will help us fuel the next wave of our data-driven, global sports expansion. The award-winning BetBuilder product is just the first of many innovative products that can be powered by the underlying platform for the benefit of our customers and we’re thrilled to be able to roll these out.”
Leading operators in major jurisdictions have been quick to adopt instant-pricing technology thanks to the high-margin profile of accumulator bets. The rollout of SportCast technology to over fifty marquee brands includes: BetMGM, PointsBet, SkyBet, Tabcorp, Entain, 888, Betsson, Danske Spil, Nederlandse Loterij and British Columbia Lottery Corporation.
The growth of pre-match, in-play and same-game parlays in North America is accelerating at pace. SportCast’s technology is capable of processing over 12,000 bets per second across major global sports including: American Football, Baseball, Soccer, Basketball, Ice Hockey and Tennis.
SportCast uses proprietary cloud-based technology and integrated machine learning models for speed and precision with rapid response times.
Jordan Levin, Group CEO, Digital for Scientific Games said, “We’re excited to welcome Ryan Coombs and his incredible team of product experts, data scientists, statisticians and developers to the home of global sports technology. The team at SportCast shares our focus on performance-at-scale and fan engagement, and the integration of their impressive platform and innovative approach will set Scientific Games apart as we build on our market leadership.”
“Choosing the right partner to accelerate our vision was the key focus for our management team,” added Ryan Coombs, Managing Director of SportCast. “Scientific Games’ position in the global market and the profile of their customer base are second to none. We set out to re-imagine the sportsbook of the future – smart, high-margin and simple for operators – whilst offering unparalleled next generation experiences for players. With Scientific Games’ fire power, we’re set to move faster and drive deeper innovation on our journey to power the future of sports betting.”
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About Light & Wonder, Inc.
Light & Wonder, Inc. (formerly known as Scientific Games Corporation), is the global leader in cross-platform games and entertainment. The Company brings together 5,000 employees from six continents to connect content between land-based and digital channels with unmatched technology and distribution. Guided by a culture that values daring teamwork and creativity, the Company builds new worlds of play, developing game experiences loved by players around the globe. Its OpenGaming™ platform powers the largest digital-gaming network in the industry. The Company is committed to the highest standards of integrity, from promoting player responsibility to implementing sustainable practices. To learn more, visit lnw.com.
In this press release, the Company makes "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "will," "may," and "should." These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of timing, future results, or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks, uncertainties and other factors, including those factors described in our filings with the Securities and Exchange Commission (the “SEC”), including the Company’s current reports on Form 8-K, quarterly reports on Form 10-Q and its annual report on Form 10-K that was filed with the SEC on March 1, 2022 (including under the headings "Forward-Looking Statements" and "Risk Factors"). Forward-looking statements speak only as of the date they are made and, except for the Company’s ongoing obligations under the U.S. federal securities laws, the Company undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.