Scientific Games Corp. Buying WMS to Create Major Lottery, Slot Brand
If 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 step ahead: ding ding ding, we have a winner! The buyout is anticipated to create 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 and also the equipment to run the same to numerous American states, Canadian provinces and also some foreign nations. Don’t count 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 has been around 59 percent over exactly what the slot manufacturer shut at back on Jan. 31 of in 2010.
‘We continue to cultivate more comfortable with the pending WMS acquisition from both a simple 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 even though Nevada may never be getting a state lottery anytime soon, Scientific can still make use that is good of’ social- and Continue reading