LAS VEGAS, Sept. 28, 2020 /PRNewswire/ -- Scientific
Games Corporation (NASDAQ: SGMS) ("Scientific Games" or the
"Company") today announced that Tim
Throsby will join the Company's Board of Directors as a new
independent director effective October 1,
2020. The Scientific Games Board will comprise nine
directors, the majority of whom are independent.
Mr. Throsby brings decades of executive financial leadership and
business growth and development experience to Scientific Games. He
most recently served as CEO of Barclays Bank Plc and President of
Barclays International where he designed and executed a
comprehensive restructuring to help transform the performance and
culture of the organization. Under Mr. Throsby's leadership,
Barclays Bank Plc doubled its return on tangible equity (ROTE) over
a US$20 billion top line portfolio of
businesses.
"We are delighted to have a financial leader of Tim's caliber
join our Board," said Jamie Odell,
Executive Chair of Scientific Games. "Tim brings extraordinary
financial and operational leadership experience. I'm confident
Scientific Games will greatly benefit from his expertise as we
continue to execute on our strategy to drive growth across our
business and unlock value for our stakeholders."
Mr. Odell continued, "With Tim's appointment and our recent
governance enhancements, Scientific Games is moving forward from a
position of strength with a refreshed, independent Board. We are
focused on optimizing our portfolio, deleveraging our business, and
capitalizing on the dynamic growth across our industry as key
markets continue to reopen."
"Scientific Games has a strong team and compelling opportunity
to capture substantial market opportunity in the expanding digital
gaming and sports betting ecosystem," said Mr. Throsby. "I look
forward to working closely with Jamie, CEO Barry Cottle, the Board and management team
during this important time in the Company's evolution and
supporting its efforts to deliver sustainable growth and
shareholder value."
Mr. Throsby's appointment follows Scientific Games' disclosure
that the Company would appoint an additional independent
non-executive director in connection with its September 14, 2020 announcement that a number of
long-term institutional investors, including highly credentialed
gaming industry investor Caledonia, reached agreement to acquire a
34.9% stake in the Company. As part of the transaction, the Company
is implementing certain governance enhancements and refreshment to
its board. Mr. Throsby's appointment follows the appointment of
Executive Chair Jamie Odell and
Executive Vice Chair Toni
Korsanos.
© 2020 Scientific Games Corporation. All rights reserved.
About Tim Throsby
Prior to joining Barclays, Mr. Throsby was the Global Head of
Equities at JP Morgan, during which time he led the business to
become one of the top firms in the industry. Earlier in his career
he served as President of Citadel Asia, where he was instrumental
in establishing the Citadel Investment Group's business across
Asia Pacific and Japan, growing a 120-person team over three
years. He previously held leadership positions at Goldman Sachs,
Lehman Brothers and Macquarie Bank.
Mr. Throsby currently serves as a non-executive director on the
boards of Silver Creek Pharmaceuticals and Lumos Global, a solar
power generation company. He earned his Bachelor of Economics
degree from the University of Sydney,
studied jurisprudence at the University of
Oxford and completed the Advanced Management Program at
Harvard Business School.
About Scientific Games
Scientific Games Corporation
(NASDAQ: SGMS) is a world leader in entertainment offering dynamic
games, systems and services for casino, lottery, social gaming,
online gaming and sports betting. Scientific Games offers the
gaming industry's broadest and most integrated portfolio of game
content, advanced systems, cutting-edge platforms and professional
services. Committed to responsible gaming, Scientific Games
delivers what customers and players value most: trusted security,
engaging entertainment content, operating efficiencies and
innovative technology. For more information, please visit
scientificgames.com.
Investor Inquiries:
IR@scientificgames.com
Media Inquiries:
Media@scientificgames.com
Forward-Looking Statements
In this press release,
Scientific Games 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 Scientific Games'
current reports on Form 8-K, quarterly reports on Form 10-Q and its
latest annual report on Form 10-K filed with the SEC on
February 18, 2020 (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 Scientific Games' ongoing obligations under the
U.S. federal securities laws, Scientific Games undertakes no
obligation to publicly update any forward-looking statements
whether as a result of new information, future events or
otherwise.
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SOURCE Scientific Games Corporation