NEW YORK (TheStreet) -- Shares of Scientific Games (SGMS - Get Report) were jumping 16.5% to $10.21 on heavy trading volume midday Wednesday as the company said it is considering growth opportunities in its interactive business including joint ventures, acquisitions, IPO and other options.
The Las Vegas-based gambling products and services company said it has designated its wholly-owned interactive social gaming subsidiaries, including Dragonplay and Phantom EFX, as unrestricted subsidiaries under its debt agreements, with the goal of maximizing growth for the company.
"Following our company's third consecutive quarter of revenue growth, we see this as a perfect time to accelerate momentum and explore additional opportunities to deliver greater value from this strong and rapidly growing segment of our business," CEO Kevin Sheehan said in a statement earlier today.
Scientific Games' portfolio includes gaming machines, game content and systems and table games products.
More than 4 million of the company's shares changed hands so far today vs. its average 30-day volume of 1.04 million shares per day.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.
Among the areas that are negative, one of the most important has been a generally disappointing historical performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: SGMS