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 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 is making investors’ ears perk up.
Lottery Matches Slots
Scientific is on the lookout for a video slot maker for awhile now; the company provides lottery systems while the equipment to run the exact same to a lot of US states, Canadian provinces and even 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, that was roughly 59 percent over what the slot manufacturer shut at back on Jan. 31 of this present year.
‘We carry on to grow more comfortable with the pending WMS acquisition from both significant and much more importantly company stability perspective,’ said Stifel Nicolaus Capital Markets 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 intera (more…)