Scientific Games Corp. Buying WMS to Create Major Lottery, Slot Brand
In the event that 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 road cred on Wall Street, please move ahead: ding ding ding, we’ve a winner! The buyout is expected to create both WMS and Scientific Games in the neighborhood of $100 million in complementary cost-savings between the two companies that are merged and that is making investors’ ears perk up.
Lottery Satisfies Slots
Scientific is on the lookout for the slot machine maker for awhile now; the business provides lottery systems plus the equipment to run the same to a lot of US states, Canadian provinces and also some countries that are foreign. Don’t rely on Nevada being certainly one of those though; not gonna happen.
For WMS stockholders, life is good; Scientific Games shelled down $26 per WMS share, which was approximately 59 percent over exactly what the slot manufacturer shut at back on Jan. 31 of this year.
‘We carry on to grow more confident with the pending WMS acquisition from both significant and much more importantly business stability perspective,’ said Stifel Nicolaus Capital Markets gaming analyst Steven Wieczynski about the merger at a recent investor conference.
Gaming Platforms Will Benefit Lottery Customers
And though Nevada may not be getting a state lottery anytime soon, Scientific can still make use that is good of’