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 expected to bring both WMS and Scientific Games in the neighbor hood of $100 million in complementary cost-savings between the 2 merged companies, secrets to more chilli slots and that’s making investors’ ears perk up.
Lottery Satisfies Slots
Scientific was on the lookout for a slot machine game maker for awhile now; the business provides lottery systems and also the equipment to perform the exact same to many American states, Canadian provinces and also some foreign nations. Don’t expect Nevada being certainly one of those though; not gonna happen.
For WMS stockholders, life is good; Scientific Games shelled down $26 per WMS share, which was roughly 59 percent over what the slot manufacturer closed at back on Jan. 31 of this year.
‘We continue to develop 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 an investor meeting that is recent.
Gaming Platforms Will Benefit Lottery Customers
And though Nevada may not be getting a state lottery anytime soon, Scientific can still make good use of WMS’ social- and intera Continue reading « Scientific Games Corp. Buying WMS to Create Major Lottery, Slot Brand »