12 February, 2020 | By Magnus Frejd |
Scientific Games Corp. Buying WMS to Create Major Lottery, Slot Brand
If you bet that the $1.5 billion acquisition of slot machine game 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, we’ve a success! The buyout is anticipated to bring both WMS and Scientific Games in the community of $100 million in complementary cost-savings between the two merged companies, and that’s making investors’ ears perk up.
Lottery Matches Slots
Scientific has been on the lookout for the slot machine game maker for awhile now; the business provides lottery systems as well as the equipment to operate the same to many American states, Canadian provinces and even some countries that are foreign. Don’t rely on Nevada being one of those though; not gonna happen.
For WMS stockholders, life is good; Scientific Games shelled out $26 per WMS share, that was around 59 percent over what the slot manufacturer shut at back on Jan. 31 of this present year.
‘We carry on to cultivate more comfortable with the pending WMS acquisition from both a fundamental and much more importantly company stability perspective,’ said Stifel Nicolaus Capital Markets gaming analyst Steven Wieczynski about the merger at a recent investor meeting.
Gaming Platforms Will Benefit Lottery Customers
And even though Nevada may never be getting a state lottery anytime soon, Scientific can nevertheless make use that is go