Scientific Games Corp. Buying WMS to Create Major Lottery, Slot Brand
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 bring both WMS and Scientific Games in the community of $100 million in complementary cost-savings between the two companies that are merged and that is making investors’ ears perk up.
Lottery Suits Slots
Scientific has been on the lookout for a video slot maker for awhile now; the organization provides lottery systems as well as the equipment to perform the exact same to a lot of American states, Canadian provinces as well as some foreign countries. Don’t rely on Nevada being one of those though; not gonna happen.
For WMS stockholders, life is good; Scientific Games shelled down $26 per WMS share, which was about 59 percent over just what the slot manufacturer shut at back on Jan. 31 of this season.
‘We continue to cultivate more comfortable 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 a present investor meeting.
Gaming Platforms Will Benefit Lottery Customers
And although Nevada may not be getting a state lottery anytime quickly, Scientific can still make good use of WMS’ social- and int Continue Reading