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 hotwire car rental reviews Scientific Games in the community of $100 million in complementary cost-savings between the two merged companies, and that is making investors’ ears perk up.
Lottery Suits Slots
Scientific has been on the lookout for the slot machine maker for awhile now; the organization provides lottery systems plus the equipment to operate the same to numerous US states, Canadian provinces and even some foreign nations. Don’t depend on Nevada being one of those though; not gonna happen.
For WMS stockholders, life is great; Scientific Games shelled down $26 per WMS share, which was about 59 percent over what the slot manufacturer closed at back on Jan. 31 of this year.
‘We carry on to develop more confident with the pending WMS acquisition from both a simple and much more importantly business stability perspective,’ said Stifel Nicolaus Capital Markets 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 nevertheless make use that is good of’ social- and interactive-ga [Read more…]