Summary
Light & Wonder has officially completed its acquisition of Grover Gaming’s charitable gaming assets for $850 million in cash, a deal initially announced in February. This acquisition, which complements Light & Wonder’s existing portfolio, highlights the strong cultural alignment between the two companies.
Key Points
- The acquisition reinforces Light & Wonder’s growth strategy in the gaming sector.
- Grover Gaming operates around 10,000 leased electronic pull-tab units across multiple states in the US.
- The acquisition includes a potential earn-out of up to $200 million based on future revenue.
- Matt Wilson, CEO of Light & Wonder, emphasised the synergy and strategic fit with Grover Gaming.
- Brian Brown, CEO of Grover Gaming, expressed excitement about the partnership and the future potential.
Why should I read this?
This article dives into a significant acquisition in the gaming industry that could reshape the landscape of charitable gaming. Light & Wonder is not just expanding its portfolio; they’re setting up for a perfect power play in the market. If you’ve got an eye on the gaming sector, this is one deal you won’t want to miss!
