Scientific Games Corp. Buying WMS to Create Major Lottery, Slot Brand
If you bet that the $1.5 billion acquisition of video slot manufacturer WMS Industries by Scientific Games Corporation would increase New York-based Scientific’s road cred on Wall Street, please step ahead: ding ding ding, we now have a success! The buyout is expected to bring both WMS and Scientific Games in the neighborhood 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 has been on the lookout for the slot machine maker for awhile now; the organization provides lottery systems and also the equipment to run the same to numerous American 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 good; Scientific Games shelled down $26 per WMS share, that was roughly 59 percent over exactly what the slot manufacturer closed at back on Jan. 31 of this season.
‘We continue to develop more comfortable with the pending WMS acquisition from both a simple and much more importantly company stability perspective,’ said Stifel Nicolaus Capital Markets video gaming analyst Steven Wieczynski about the merger at a recent investor meeting.
Gaming Platforms Will Benefit Lottery Customers
And though Nevada may never be getting a state lottery anytime quickly, Scientific can nevertheless make good use of WMS Read More