Scientific Games Corp. Buying WMS to Create Major Lottery, Slot Brand
We have a winner 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 forward: ding ding ding! The buyout is expected to create both WMS and Scientific Games in the neighborhood of $100 million in complementary cost-savings between the 2 merged companies, and that’s making investors’ ears perk up.
Lottery Satisfies Slots
Scientific has been on the lookout for the video slot maker for awhile now; the organization provides lottery systems therefore the equipment to perform the exact same to many US states, Canadian provinces and even some countries that are foreign. Don’t depend on Nevada being one of those though; not gonna happen.
For WMS stockholders, life is great; Scientific Games shelled down $26 per WMS share, that was about 59 percent over exactly what the slot manufacturer shut at back on Jan. 31 of this season.
‘We continue to grow more comfortable with the pending WMS acquisition from both a simple and much more importantly business stability perspective,’ said Stifel Nicolaus Capital Markets gaming analyst Steven Wieczynski about the merger at an investor meeting that is recent.
Gaming Platforms Will Benefit Lottery Customers
And though Nevada may never be getting a state lottery anytime quickly, Scientific can still make use that is good of’ social- […]