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 move forward: ding ding ding, we’ve a winner! The buyout is anticipated to create both WMS and Scientific Games in the community of $100 million in complementary cost-savings between the 2 merged companies, and that is making investors’ ears perk up.
Lottery Satisfies Slots
Scientific was on the lookout for a slot machine game maker for awhile now; the business provides lottery systems therefore the equipment to operate the same to numerous US states, Canadian provinces as well as some foreign nations. Don’t count on Nevada being one of those though; not gonna happen.
For WMS stockholders, life is great; Scientific Games shelled out $26 per WMS share, that has been approximately 59 percent over what the slot manufacturer shut at back on Jan. 31 of this year.
‘We continue to develop more comfortable with the pending WMS acquisition from both a simple and more importantly company stability perspective,’ said Stifel Nicolaus Capital Markets video 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 good use of WMS’ social- and Continue reading “Scientific Games Corp. Buying WMS to Create Major Lottery, Slot Brand”