Scientific Games Corp. Buying WMS to Create Major Lottery, Slot Brand
In the event that you bet that the $1.5 billion acquisition of video slot maker WMS Industries by Scientific Games Corporation would increase New York-based Scientific’s road cred on Wall Street, please move forward: ding ding ding, we have a success! The buyout is expected to bring both WMS and Scientific Games in the community of $100 million in complementary cost-savings between the 2 companies that are merged and that’s making investors’ ears perk up.
Lottery Suits Slots
Scientific was on the lookout for a video slot maker for awhile now; the business provides lottery systems as well as the equipment to perform the same to many US states, Canadian provinces and also some foreign countries. Don’t expect Nevada being certainly one of those though; not gonna happen.
For WMS stockholders, life is great; 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 in 2010.
‘We continue to grow more confident with the pending WMS acquisition from both a simple and much more importantly company 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 although Nevada may never be getting a state lottery anytime soon, Scientific can still make use that is good of’ social- and interactive- Continue reading Scientific Games Corp. Buying WMS to Create Major Lottery, Slot Brand