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 bring both WMS and Scientific Games in the neighborhood of $100 million in complementary cost-savings between the 2 merged companies, and that’s making investors’ ears perk up.
Lottery Suits Slots
Scientific was on the lookout for a slot machine maker for awhile now; the organization provides lottery systems and the equipment to operate the exact same to numerous American states, Canadian provinces and even some foreign countries. Don’t rely on Nevada being certainly one of those though; not gonna happen.
For WMS stockholders, life is great; Scientific Games shelled down $26 per WMS share, that was roughly 59 percent over exactly what the slot manufacturer shut at back on Jan. 31 of this season.
‘We carry on to cultivate more confident with the pending WMS acquisition from both a fundamental and much more importantly business stability perspective,’ said Stifel Nicolaus Capital Markets 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 nevertheless make good use of WMS Continue reading Scientific Games Corp. Buying WMS to Create Major Lottery, Slot Brand