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 expected 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 Suits Slots
Scientific happens to be on the lookout for the slot machine maker for awhile now; the company provides lottery systems and also the equipment to perform the same to a lot of US states, Canadian provinces as well as some countries that are foreign. Don’t expect Nevada being certainly one of those though; not gonna happen.
For WMS stockholders, life is great; Scientific Games shelled out $26 per WMS share, that has been roughly 59 percent over just what the slot manufacturer shut at back on Jan. 31 of this year.
‘We carry on to cultivate more confident with the pending WMS acquisition from both a simple and much more importantly business stability perspective,’ said Stifel Nicolaus Capital Markets video gaming analyst Steven Wieczynski about the merger at a present investor conference.
Gaming Platforms Will Benefit Lottery Customers
And although Nevada may not be getting a state lottery anytime quickly, Scientific can still make use that is good of’