Scientific Games to redeem any convertibles not put back on June 1

By Angela McDaniels

Tacoma, Wash., May 6 - Scientific Games Corp. will redeem any of its 0.75% convertible subordinated notes due 2024 that are not put back to the company on June 1, according to a company news release.

The company noted that the redemption notice technically gives holders the right to convert.

Without the notice, the notes would not be convertible during the quarter ending June 30 because the average price of the company's common stock was lower than the conversion trigger price of the convertibles during the quarter ended March 31, the release stated.

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

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