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 create both WMS and Scientific Games in the neighborhood of $100 million in complementary cost-savings between the two companies that are merged and that’s making investors’ ears perk up.
Lottery Matches Slots
Scientific has been on the lookout for the slot machine maker for awhile now; the company provides lottery systems therefore the equipment to operate the same to numerous American states, Canadian provinces and even some foreign nations. Don’t expect Nevada being one of those though; not gonna happen.
For WMS stockholders, life is good; Scientific Games shelled out $26 per WMS share, which was around 59 percent over exactly what the slot manufacturer closed at back on Jan. 31 of in 2010.
‘We continue to cultivate more confident with the pending WMS acquisition from both a fundamental and 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 never be getting a state lottery anytime quickly, Scientific can still make use that is good of’ social- Continue reading “Scientific Games Corp. Buying WMS to Create Major Lottery, Slot Brand”