MacAndrews has filed a 13F document, stating that it is exploring the monetisation of equity holdings, which could potentially include SGMS, but does not specifically target the company among a host of businesses within Perelman’s portfolio.
A statement from MacAndrews and Forbes notes that the company has “decided to reset MacAndrews & Forbes in a manner that will give us maximum flexibility both financially and personally. This will allow us to be opportunistic and flexible in looking at new situations.”
The 13F document noted that while MacAndrew & Forbes is exploring the sale of the 39% shareholding in SGMS, nothing is set or imminent. The company is exploring the sale of its holdings, which is not specific to SGMS. Bloomberg News notes that Perelman is looking to rework his holdings due to COVID-19 disruption in the marketplace and is resetting his investment holdings as a result.
Perelman, 77, is currently listed as the 79th wealthiest person in the United States with a personal fortune of US$7.8 billion. Bloomberg News calculated the sales of his 36.8 million shares in Scientific Games to be worth US$1.5bn.