Scientific Games Corp. Buying WMS to Create Major Lottery, Slot Brand
In the event that you bet that the $1.5 billion acquisition of video slot 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 have a winner! The buyout is expected to bring both WMS and Scientific Games in the neighborhood of $100 million in complementary cost-savings between the two merged companies, and that’s making investors’ ears perk up.
Lottery Meets Slots
Scientific has been on the lookout for a slot machine game maker for awhile now; the company provides lottery systems as well as the equipment to run the exact same to a lot of US states, Canadian provinces and also some foreign countries. Don’t depend on Nevada being one of those though; not gonna happen.
For WMS stockholders, life is great; Scientific Games shelled down $26 per WMS share, that was approximately 59 percent over exactly what the slot manufacturer closed at back on Jan. 31 of this season.
‘We carry on to develop more comfortable with the pending WMS acquisition from both a fundamental and more importantly business stability perspective,’ said Stifel Nicolaus Capital Markets gaming analyst Steven Wieczynski about the merger at a current investor conference.
Gaming Platforms Will Benefit Lottery Customers
And although Nevada may never be getting a state lottery anytime quickly, Scientific can still make good use of WMS’ s Continue reading