Scientific Games Corp. Buying WMS to Create Major Lottery, Slot Brand
If you bet that the $1.5 billion acquisition of slot machine manufacturer WMS Industries by Scientific Games Corporation would increase New York-based Scientific’s street cred on Wall Street, please step ahead: ding ding ding, we have a success! The buyout is anticipated to bring both WMS and Scientific Games in the neighborhood of $100 million in complementary cost-savings between the two companies that are merged and that’s making investors’ ears perk up.
Lottery Meets Slots
Scientific has been on the lookout for the slot machine maker for awhile now; the organization provides lottery systems therefore the equipment to perform the same to a lot of US states, Canadian provinces as well as some foreign nations. Don’t rely on Nevada being one of those though; not gonna happen.
For WMS stockholders, life is great; Scientific Games shelled out $26 per WMS share, which was approximately 59 percent over exactly what the slot manufacturer shut at back on Jan. 31 of this year.
‘We carry on to cultivate more confident with the pending WMS acquisition from both a fundamental and more importantly company stability perspective,’ said Stifel Nicolaus Capital Markets gaming analyst Steven Wieczynski about the merger at a present investor meeting.
Gaming Platforms Will Benefit Lottery Customers
And although Nevada may never be getting a state lottery anytime quickly, Scientific can still make good use of WMS’ social- anRead More ->