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Cravath Publishes Summer 2026 Issue of Alumni Journal

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News & Insights

Scientific Games’ $6.05 Billion Sale of its Lottery Business to Brookfield Business Partners

October 28, 2021

On October 27, 2021, Scientific Games Corporation (“Scientific Games”) announced that it has entered into a definitive agreement to sell its Lottery business, a leading, diversified global lottery partner with long‑standing relationships with approximately 130 government and non‑government lottery entities in over 50 countries, to Brookfield Business Partners L.P. together with its institutional partners (collectively, “Brookfield”) for total consideration of $6.05 billion consisting of $5.825 billion in cash and an earn‑out of up to $225 million based on the achievement of certain EBIDTA targets in 2022 and 2023. Cravath is representing Scientific Games in connection with the transaction.

The Cravath team is led by partner Robert I. Townsend III and includes associates Kelly M. Smercina, D. Ana Choi, Fay E. Krewer and Paul A. Bryant on M&A matters; partner Michael S. Goldman on financing matters; partners Craig F. Arcella, Nicholas A. Dorsey and Sasha Rosenthal‑Larrea and associates Lee M. Blum, Fay E. Krewer, Rachael E. Joseph and Callum A.F. Sproule on capital markets matters; partner J. Leonard Teti II and associates Cecily Xi, Duncan H. Hardell and Joana W. Li on tax matters; partner Yonatan Even, senior attorney Jesse M. Weiss and practice area attorney Nicole M. Peles on regulatory matters; partner Matthew J. Bobby, practice area attorney Sarah W. Colangelo and associates David Crampton and Laura S. Lee on executive compensation and benefits matters; partner David J. Kappos, practice area attorney Anthony N. Magistrale and associate Carys J. Webb on intellectual property matters; partner Matthew Morreale on environmental matters; practice area attorney Brian M. Budnick on real estate matters; and associates William D. Podurgiel and Jonathan S. Madorsky on corporate governance and disclosure matters. William Council also worked on M&A matters, Mariel V. Mok also worked on capital markets matters and Michael C. Grant also worked on regulatory matters.

Related Practices & Industries

  • Corporate
  • Mergers and Acquisitions
  • Private Equity
  • Banking and Credit
  • Capital Markets
  • Tax
  • Executive Compensation and Benefits
  • IP and Strategic Tech Transactions
  • Environmental
  • Antitrust
  • Corporate Governance and Board Advisory
  • Consumer Products and Services
  • Technology
  • Media and Entertainment

People

Photo
Name
Robert I. Townsend III
Title
Corporate
Title
Partner
Email
rtownsend@cravath.com
Phone
+1-212-474-1964
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    Education

    • J.D., 1990, Harvard Law School
      magna cum laude
    • A.B., 1987, Harvard College
      magna cum laude

    Admitted In

    • New York
    Photo
    Name
    Kelly M. Smercina
    Title
    Corporate
    Title
    Partner
    Email
    ksmercina@cravath.com
    Phone
    +1-212-474-1133
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      Education

      • J.D., 2014, University of Michigan Law School
        Order of the Coif, summa cum laude
      • B.A., 2011, University of Notre Dame
        Phi Beta Kappa, summa cum laude

      Admitted In

      • New York
      Photo
      Name
      Craig F. Arcella
      Title
      Corporate
      Title
      Partner
      Email
      carcella@cravath.com
      Phone
      +1-212-474-1024
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        Education

        • J.D., 1998, Columbia Law School
          Harlan Fiske Stone Scholar
        • B.A., 1995, Duke University

        Admitted In

        • New York
        Photo
        Name
        Nicholas A. Dorsey
        Title
        Corporate
        Title
        Partner
        Email
        ndorsey@cravath.com
        Phone
        +1-212-474-1764
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          Education

          • J.D., 2009, Cornell Law School
            Order of the Coif, summa cum laude
          • M.Acc., 2006, Case Western Reserve University
            summa cum laude
          • B.S., 2006, Case Western Reserve University
            summa cum laude

          Admitted In

          • New York
          Photo
          Name
          Sasha Rosenthal-Larrea
          Title
          Corporate
          Title
          Partner
          Email
          srosenthal-larrea@cravath.com
          Phone
          +1-212-474-1967
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            Education

            • J.D., 2010, Columbia Law School
              Harlan Fiske Stone Scholar
            • A.B., 2007, Brown University

            Admitted In

            • New York
            Photo
            Name
            J. Leonard Teti II
            Title
            Tax
            Title
            Partner
            Email
            lteti@cravath.com
            Phone
            +1-212-474-1896
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              Education

              • J.D., 2005, University of Virginia School of Law
                Order of the Coif
              • A.B., 1999, Princeton University
                with Honors

              Admitted In

              • New York
              Photo
              Name
              Yonatan Even
              Title
              Litigation
              Title
              Partner
              Email
              yeven@cravath.com
              Phone
              +1-212-474-1958
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                Education

                • J.S.D., 2009, Columbia Law School
                • LL.M., 2004, Columbia Law School
                  James Kent Scholar
                • LL.B., 1999, Tel Aviv University
                  magna cum laude

                Admitted In

                • New York
                Photo
                Name
                Jesse M. Weiss
                Title
                Litigation
                Title
                Partner
                Email
                jweiss@cravath.com
                Phone
                +1-212-474-1421
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                  Education

                  • J.D., 2008, Georgetown University Law Center
                    magna cum laude
                  • B.A., 2003, University of Maryland

                  Admitted In

                  • New York
                  Photo
                  Name
                  Matthew J. Bobby
                  Title
                  Executive Compensation and Benefits
                  Title
                  Partner
                  Email
                  mbobby@cravath.com
                  Phone
                  +1-212-474-1128
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                    Education

                    • J.D., 2012, Harvard Law School
                      magna cum laude
                    • M.A., 2009, University of Pennsylvania
                    • B.A., 2009, University of Pennsylvania
                      Phi Beta Kappa, summa cum laude

                    Admitted In

                    • New York
                    Photo
                    Name
                    David J. Kappos
                    Title
                    Corporate
                    Title
                    Partner
                    Email
                    dkappos@cravath.com
                    Phone
                    +1-212-474-1168
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                      Education

                      • J.D., 1990, University of California, Berkeley, School of Law
                      • B.S., 1983, University of California, Davis
                        summa cum laude

                      Admitted In

                      • New York
                      • California
                      • District of Columbia
                      Photo
                      Name
                      William D. Podurgiel
                      Title
                      Corporate
                      Title
                      Partner
                      Email
                      wpodurgiel@cravath.com
                      Phone
                      +1-212-474-1628
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                        Education

                        • J.D., 2011, The University of Texas School of Law
                        • B.A., 2004, University of Pennsylvania
                          cum laude

                        Admitted In

                        • New York
                        Photo
                        Name
                        Nicole M. Peles
                        Title
                        Litigation
                        Title
                        Of Counsel
                        Email
                        npeles@cravath.com
                        Phone
                        +1-212-474-1624
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                          Education

                          • J.D., 2010, New York University School of Law
                            cum laude
                          • A.B., 2007, Dartmouth College

                          Admitted In

                          • New York
                          Photo
                          Name
                          Sarah W. Colangelo
                          Title
                          Executive Compensation and Benefits
                          Title
                          Of Counsel
                          Email
                          scolangelo@cravath.com
                          Phone
                          +1-212-474-1254
                          vCard
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                            Education

                            • J.D., 2014, Georgetown University Law Center
                              Order of the Coif, magna cum laude
                            • B.A., 2007, Duke University
                              Phi Beta Kappa, summa cum laude

                            Admitted In

                            • New York
                            Photo
                            Name
                            Brian M. Budnick
                            Title
                            Corporate
                            Title
                            Of Counsel
                            Email
                            bbudnick@cravath.com
                            Phone
                            +1-212-474-1914
                            vCard
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                              Education

                              • J.D., 2011, Benjamin N. Cardozo School of Law
                                cum laude
                              • B.A., 2006, University of Virginia

                              Admitted In

                              • New York
                              Photo
                              Name
                              Michael S. Goldman
                              Title
                              Corporate
                              Title
                              Retired Partner
                              Email
                              mgoldman@cravath.com
                              Phone
                              +1-212-474-1999
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                                Education

                                • J.D., 1987, Fordham University School of Law
                                  cum laude
                                • B.A., 1984, University of Pennsylvania
                                  cum laude
                                Photo
                                Name
                                Matthew Morreale
                                Title
                                Corporate
                                Title
                                Retired Partner
                                Email
                                mmorreale@cravath.com
                                Phone
                                +1-212-474-1534
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                                  Education

                                  • J.D., 1997, Columbia Law School
                                    Harlan Fiske Stone Scholar
                                  • M.S., 1994, University of Pennsylvania
                                  • B.A., 1990, University of Pennsylvania
                                  • B.A.S., 1990, University of Pennsylvania

                                  Admitted In

                                  • New York

                                  Related News & Insights

                                  Deals & Cases

                                  December 22, 2025

                                  Epic Games’ Ninth Circuit Win Affirming Civil Contempt Finding

                                  On December 11, 2025, the U.S. Court of Appeals for the Ninth Circuit unanimously affirmed the U.S. District Court for the Northern District of California’s finding that Apple Inc. (“Apple”) committed civil contempt based on Apple’s willful violations of a permanent injunction that Cravath client Epic Games, Inc. (“Epic”) previously secured against Apple. The Court of Appeals affirmed several contempt sanctions imposed by the District Court against Apple, while modifying or reversing in part certain other sanctions and remanding to the District Court for further proceedings. The Court also unanimously affirmed the denial of Apple’s request to vacate or modify the permanent injunction based on recent California state court decisions and denied Apple’s request to reassign the case to a different district judge on remand.

                                  Deals & Cases

                                  August 21, 2025

                                  Epic Games’ Ninth Circuit Win Affirming Antitrust Trial Victory and Permanent Injunction Against Google

                                  On July 31, 2025, the U.S. Court of Appeals for the Ninth Circuit unanimously affirmed a jury verdict won by Cravath client Epic against Google in the U.S. District Court for the Northern District of California that Google has engaged in illegal anticompetitive behavior in the distribution of mobile apps and in the handling of in‑app payments. The Ninth Circuit also unanimously affirmed the district court’s permanent injunction against Google. The district court’s injunction prohibits Google from providing benefits to phone manufacturers, app developers and others in exchange for favoring the Google Play Store, prohibits Google from requiring the use of its own payment solution and also requires Google to take steps to restore competition, such as carrying other app stores on the Google Play Store.

                                  Deals & Cases

                                  October 15, 2024

                                  Epic Games Wins Post‑Trial Injunction in Antitrust Case Against Google

                                  On October 7, 2024, the U.S. District Court for the Northern District of California entered a post‑trial order in favor of Cravath client Epic Games imposing a nationwide three‑year permanent injunction against Google. The injunction, which follows Epic’s jury trial win against Google last year, prohibits Google from paying competitors not to compete and requires Google to distribute alternative app stores on the Google Play Store and provide alternative app stores with access to the Google Play Store’s catalog of apps.

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