Why Scientific Games Is Trading Higher Today

Scientific Games Corp SGMS is trading higher Tuesday after the company announced it intends to divest its lottery and sports betting businesses. 

Scientific Games said it's evaluating alternatives to execute the divestitures for each business, including an IPO, a combination with a special purpose acquisition company, or via sale or strategic combination with another business.

Related Link: Scientific Games Could Have Upside With Spinoffs Of Lottery And Sports Betting Businesses

Price Action: Scientific Games has traded as high as $79.98 and as low as $13.61 over a 52-week period. The stock is up 87.71% year-to-date.

At last check Tuesday, it was up 2.90% at $78.16.