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 step ahead: ding ding ding, we have a success! The buyout is anticipated to bring 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 Meets Slots
Scientific was on the lookout for the slot machine maker for awhile now; the company provides lottery systems as well as the equipment to run the exact same to a lot of US states, Canadian provinces and also some countries that are foreign. Don’t expect Nevada being one of those though; not gonna happen.
For WMS stockholders, life is good; Scientific Games shelled down $26 per WMS share, that was approximately 59 percent over what the slot manufacturer shut at back on Jan. 31 of in 2010.
‘We carry on to develop more comfortable 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 an investor meeting that is recent.
Gaming Platforms Will Benefit Lottery Customers
And although Nevada may not be getting a state lottery anytime soon, Scientific can still make use that is good of’ social- a Les videre