Scientific Games sells unit |
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Published
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Wed, 14 Mar 2007 23:18
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NEW YORK (AP) - Lottery and gaming system maker Scientific Games Corp. said Wednesday it sold its racing communications business to Roberts Communications Network LLC in return for a 29.4 percent stake in Roberts.Scientific Games said the sale includes the simulcast transmission unit of Scientific Games Racing LLC and a 70 percent interest in the North American Simulcast Racing Information Network (NASRIN).Louisville, Ky.-based racetrack operator Churchill Downs Inc. will retain the remaining interest in NASRIN.Scientific Games said Roberts Communications Chief Executive Todd Roberts and Vice President Joseph Hill will keep their positions.Scientific Games expects the transaction to add to earnings.Shares of Scientific Games fell 39 cents to close at $30.85 on the Nasdaq Stock Market.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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