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Light & Wonder finalizes purchase of remaining 17% of SciPlay

October 25, 2023 World iGaming & Gambling

The distributor of gaming hardware and content, Light & Wonder Inc., has completed the acquisition of the last 17% of SciPlay Corp., a provider of digital games, that it did not previously own.

For every share of SciPlay class A common stock that they possess, stockholders will get $22.95 in compensation. As a consequence of this acquisition, SciPlay will become a wholly-owned subsidiary of Light & Wonder and its common stock will be taken off the Nasdaq Global Select Market’s public listing.

The $422 million initial offer made by Light & Wonder in May has been raised by 14.7 percent to $22.95 per share. The original offer was made at $20.00 per share.

Matt Wilson, President and CEO of Light & Wonder, underlined the benefits of incorporating SciPlay within the company in order to accelerate its cross-platform strategy and boost shareholder returns.

Praising SciPlay’s exceptional performance and market success, he conveyed his confidence in the company’s capacity to leverage this momentum going forward. The goal of this merger is to improve communication between the two teams, which will result in a more seamless and superior player experience.

Light & Wonder reported $283 million in revenue for the second quarter, up 19.8% from $610 million in the same period last year and 9.1% from $670 million in the same period in 2023.