Scientific Games Corporation (SGM), the company that emerged from the marriage of Autotote Corp. (TTE) and Scientific Games Co. (SG), has moved from the American Stock Exchange to the Nasdaq Stock Market.
The trading symbol is now SGMS.
“This is an exciting move for Scientific Games as we begin trading on Nasdaq and join the many innovative companies such as ours that have been in the forefront of progress in their business,” remarked Lorne Weil, company chairman and CEO.
It was Weil, who headed Autotote Corp. that initiated the merger with Scientific Games. At the time, Autotote was one the world’s leaders in the business of providing both hardware and software used by totalizator systems that record wagers and issued tickets for racetrack operations. The company also had a major lottery services division.
Scientific Games primarily manufactures and distributes tickets and ticket issuing machines dealing with state lotteries. For a few years, Tote stock languished in the three to four dollar range but since the merger, the company’s shares have been risen to the $9 level.
Recently, Scientific Games Corp. joined a consortium of companies involved in developing satellite racing operations in England.