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Scientific Games Management Changes
SCIENTIFIC GAMES SHARES TANK ON NEWS OF MANAGEMENT CHANGES (Update)
Fridays news that Gavin Isaacs is to step down as CEO triggers a shareholder reaction.
The announcement Friday that the respected Scientific Games CEO Gavin Isaacs has handed the reins over to former Norwegian Cruise Lines chief executive Kevin Sheehan had an unintended and immediate consequence...the groups share price dived 16 percent in Friday trading.
Analysts attributed the plunge to investor concerns that Sheehan, whilst an accomplished businessman, has no experience in the gambling business, but also to what some described as the "almost cult status" that Isaacs enjoys in the industry as a skilled and experienced chief executive.
In fact Isaacs is not leaving the group, but takes up a post as vice chairman of the board, supporting owner and chairman billionaire Ron Perelman. Nevertheless, it appears that there are shareholders worried about the prospect of the business continuing to prosper without his direct oversight.
The decline in share price to $8.53 Friday was the biggest intraday loss experienced by the company since last November and followed the same-day posting of results that included quarterly revenue above expectations at $729.2 million and operating income up at $46.7 million compared to a loss of $800,000 in the corresponding quarter a year ago.
Gambling News :
$400k Winner at Bodog Casino -
To win, you need to get a pair of Tens or better. Jerry K., however, got a much higher hand than the minimum; he pocketed $397,879 after landing the game’s best possible hand: a royal flush.
NBA : Warriors Win the West; NBA Finals Next -
The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.
PartyPoker Rakebak -
Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.
NHL Odds: Lone Canadian Team Plays on Friday -
“Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.
NBA Odds: Will Cavaliers Be Rusty in Game 1? -
The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.
4 New Microgaming Releases in May 2017 -
Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.
PKR Company Statement Update -
Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.
Microgaming Wins The Spark Award 2017 -
The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.
NHL Predators First Ever Conference Finals Appearance -
With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.
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