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SCIENTIFIC GAMES CORPORATION

(SGMS)
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SCIENTIFIC GAMES CORP : Change in Directors or Principal Officers (form 8-K)

11/23/2021 | 04:28pm EST

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Departure of Senior Vice President and Chief Accounting Officer

On November 23, 2021, Michael F. Winterscheidt informed Scientific Games Corporation (the "Company") that he would like to transition to a part-time role and, accordingly, will leave his full-time position as Senior Vice President and Chief Accounting Officer and transition to a consulting role effective upon the close of business on November 30, 2021 (the "Separation Date"). Constance P. James, the Company's Executive Vice President, Chief Financial Officer, Treasurer and Corporate Secretary, will serve as the Company's principal accounting officer effective as of the Separation Date. For biographical information with respect to Ms. James, see the information provided under the heading "Appointment of Executive Vice President, Chief Financial Officer, Treasurer and Corporate Secretary and Departure of Executive Vice President, Chief Financial Officer, Treasurer and Corporate Secretary" in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on September 16, 2021, which information is incorporated herein by reference. Ms. James will not receive any additional compensation in respect of such responsibilities.

Engagement Letter with Mr. Winterscheidt

On November 23, 2021, the Company entered into an engagement letter with Mr. Winterscheidt (d/b/a Uphill Consulting) (the "Engagement Letter") pursuant to which Mr. Winterscheidt will provide, effective as of the Separation Date, general accounting and advisory consulting services to the Company to be set forth in one or more statements of work in connection with such services.

The Engagement Letter provides that the Company will pay Mr. Winterscheidt a cash fee in exchange for such consulting services, with the applicable fee to be set forth in the applicable statement of work and calculated based on the actual hours of work required in connection with such services and the complexity thereof. Each statement of work may be terminated by the Company, without cause, by giving Mr. Winterscheidt no less than 60 days' written notice before the effective date of such termination.

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© Edgar Online, source Glimpses

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Financials (USD)
Sales 2021 2 568 M - -
Net income 2021 290 M - -
Net Debt 2021 8 178 M - -
P/E ratio 2021 19,7x
Yield 2021 0,01%
Capitalization 5 576 M 5 576 M -
EV / Sales 2021 5,36x
EV / Sales 2022 3,12x
Nbr of Employees 9 000
Free-Float -
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Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 57,77 $
Average target price 82,00 $
Spread / Average Target 41,9%
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Managers and Directors
Barry L. Cottle President, Chief Executive Officer & Director
Constance P. James Secretary, Chief Financial & Accounting Officer
Jamie R. Odell Executive Chairman
Jeff McVay Chief Information Officer
Stephen Richardson Chief Compliance Officer & Senior Vice President
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