Scientific Games Corp. Buying WMS to Create Major Lottery, Slot Brand
In the event that you bet that the $1.5 billion acquisition of slot machine game manufacturer WMS Industries by Scientific Games Corporation would increase New York-based Scientific’s road cred on Wall Street, please step forward: ding ding ding, we have a success! The buyout is expected to create both WMS and Scientific Games in the neighbor hood of $100 million in complementary cost-savings between the two companies that are merged and that is making investors’ ears perk up.
Lottery Matches Slots
Scientific has been on the lookout for the video slot maker for awhile now; the company provides lottery systems plus the equipment to perform the exact same to many US states, Canadian provinces and even some foreign countries. Don’t count on Nevada being certainly one of those though; not gonna happen.
For WMS stockholders, life is good; Scientific Games shelled out $26 per WMS share, that was approximately 59 percent over what the slot manufacturer closed at back on Jan. 31 of this present year.
‘We continue to cultivate more confident with the pending WMS acquisition from both a fundamental and more importantly business stability perspective,’ said Stifel Nicolaus Capital Markets gaming analyst Steven Wieczynski about the merger at a recent investor conference.
Gaming Platforms Will Benefit Lottery Customers
And although Nevada may not be getting a state lottery anytime quickly, Scientific can nevertheless m Read more