Poker Business: Nevada Gaming Regulators Sign Off On Scientific Games Buy Of WMSThe Merger Would Come At A Price Tag Of $1.5 Billion |
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Scientific Games is seeking to buy slot machine maker WMS Industries for $1.5 billion, and the Nevada Gaming Control Board approved the move on Wednesday.
Later this month, the five-member Gaming Commission will issue a final stamp of approval. The merger was announced in late January of this year.
Scientific Games is a leader in the supply of lottery instant tickets, lottery and video gaming systems and server-based gaming. WMS is a leader in the supply of gaming machines and interactive gaming content. The deal will allow these offerings to be integrated together.
Jeffrey Lipkin, Scientific Games’ CFO, said at the time: “This combination will diversify Scientific Games’ revenue base, expand margins and propel future growth opportunities.”
“The combination of Scientific Games and WMS yields tremendous benefits to our customers, shareholders and employees,” Brian Gamache, WMS’ Chairman and Chief Executive Officer, said as the deal was announced. “We view this transaction as the next logical and strategic step in offering continued innovation in gaming. Shareholders will enjoy a meaningful premium for their shares and employees will have expanded career opportunities as part of a larger, broader and more diverse organization. We are delighted with this transaction and look forward to working with our new colleagues at Scientific Games.”
The move is potentially big for a future online poker environment in the U.S. and beyond, as online poker site 888 and WMS have an existing deal for U.S. web poker. WMS is a Nevada online gaming licensee, possessing capabilities for social and mobile betting. New York-based Scientific Games has the platform for Internet lotteries and sports betting.
For more news from Nevada, check out its state page.
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