Light & Wonder to offer $422m for remaining SciPlay shares

By Mark
Published 20/05/2023
Light & Wonder to offer $422m for remaining SciPlay shares

Top casino game provider Light & Wonder has announced that it wants to buy the remaining SciPlay public shares for roughly $422 million.

According to iGaming news website iGB, the provider, which has 98% of SciPlay’s voting interest, will be buying each share for $20 each.

If the deal is made, SciPlay would become a subsidiary whose stock is owned entirely by Light & Wonder.

In relation to the potential purchase, Light & Wonder said that this would help gel its businesses together, as well as allow the support of the group’s strategy for cross-platform strategy. 

In a letter to the group’s board, Light & Wonder President and Chief Executive Matthew Wilson said that the proposed purchase offers the public shareholders for SciPlay a mix of speed, certainty, and value.

Wilson added that for the shares, the public shareholders for SciPlay would be getting premium value. He also emphasised that SciPlay would obtain liquidity, while their investment “in a volatile and uncertain market” would be de-risked.

While remarking that Light & Wonder would not be conducting any due diligence, Wilson noted that the casino game provider does not expect approvals from regulatory bodies, nor from its own shareholders.

The reason for this, Wilson believes, is that through the collaboration that Light & Wonder already has with SciPlay, the deal will be made seamlessly.

Wilson then concluded that Light & Wonder is looking forward to completely team up with the leadership team and employees from SciPlay (which he described as talented), to making strides in innovations for players, as well as customers.

More on Light & Wonder’s growth

Last April, Light & Wonder, announced a team up with gaming content provider ReelPlay that involves games being delivered to the British Columbia Lottery Corporation.

Light & Wonder, ReelPlay
Light & Wonder and ReelPlay teamed up last April.

Meanwhile, in March 2023, Light & Wonder announced the company’s findings for the 2022 Q4 and 2022 fiscal year results, which revealed further growth.

If you want to read more about related news, we suggest clicking on the links below, taken from our Casino News section:

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