Scientific Games repurchases $58.3 million of its 0.75% convertibles

By Jennifer Chiou

New York, June 11 - Scientific Games Corp. increased the authorized amount of its repurchase program for its 0.75% convertible senior subordinated debentures due 2024 to $158.3 million from $100 million and bought back $58.3 million of the securities on Wednesday, according to an 8-K filed with the Securities and Exchange Commission.

The original amount for the repurchase program was $50 million, and the company added that $215.5 million of 0.75% convertibles remains outstanding.

On Wednesday, the company also adopted a $50 million repurchase program for its $200 million of 6.25% senior subordinated notes due 2012.

Both programs expire on Dec. 31, 2009 and are expected to be funded by cash flows from operations, borrowings or a combination.

Scientific Games is a New York supplier of technology-based products, systems and services to gaming markets.

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