|During the Scientific Games’s third quarter earnings conference call, company CEO Gavin Isaacs said the acquisition would increase the company’s cash flow and reduce obligations taken on by the deal. “Our goal is to primarily use our increased free cash flow to pay down debt and bring our leverage ratios back to more optimal levels,” Isaacs said. Isaacs served as chief operating officer of Bally before becoming CEO of SHFL entertainment. Last year, Bally bought SHFL for $1.3 billion. Isaacs became CEO of Scientific Games earlier this year. Isaacs said the transaction came about quickly after a few weeks of talks between Scientific Games and Bally.
“If you have a great idea in the synergies and meeting of the minds and then strategies all align, why is there any reason to procrastinate,” Isaacs said.
Public Gaming Magazine January/February 2014