SciPlay Corp rises on acquiring mobile gaming firm Come2Play

SciPlay

22/06/2020 17:19

** Shares of social gaming firm  SCPL.O  rise 4.7% to $14.61
in morning trade
    ** Company acquires Come2Play, a Tel Aviv, Israel-based
developer of mobile games 
    ** SCPL does not disclose financial terms of the deal; says
it does not significantly impact the company's liquidity
position, which is over $300 mln with no debt on the balance
sheet
    ** Come2Play's two leading games, "Solitaire Pets Adventure"
and "Backgammon Live", will serve to broaden SciPlay's reach
outside of their core social casino niche - Jeff Cohen, analyst
at brokerage Stephens
    ** Brokerage SunTrust Robinson views the deal as consistent
with SCPL's past commentary both in terms of genre and size;
adds that SCPL had highlighted M&A as a key pillar of its
strategy
    ** Current avg. rating of 13 analysts on the stock is "buy";
their median PT is $14 - Refinitiv data
    ** Stock is up ~19% so far this year

 (Reporting by Ayanti Bera in Bengaluru)
 ((Ayanti.Bera@thomsonreuters.com; 646 223 8780 - 3401;))