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 forward: ding ding ding, we have a success! The buyout is expected to bring both WMS and Scientific Games in the neighbor hood of $100 million in complementary cost-savings between the 2 merged companies, and that’s making investors’ ears perk up.
Lottery Suits Slots
Scientific happens to be on the lookout for the slot machine game maker for awhile now; the business provides lottery systems as well as the equipment to run the same to numerous American 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 good; Scientific Games shelled down $26 per WMS share, which was approximately 59 percent over what the slot manufacturer shut at back on Jan. 31 of this season.
‘We continue to develop more comfortable with the pending WMS acquisition from both a simple and much more importantly company stability perspective,’ said Stifel Nicolaus Capital Markets video gaming analyst Steven Wieczynski about the merger at a current investor conference.
Gaming Platforms Will Benefit Lottery Customers
And though Nevada may not be getting a state lottery anytime soon, Scientific can nevertheless make good use of W Continue reading “Scientific Games Corp. Buying WMS to Create Major Lottery, Slot Brand”