Light & Wonder has successfully concluded its acquisition of the remaining 17% equity interest in SciPlay Corporation. The acquisition, which involved a cash payment of $22.95 per share, positions SciPlay as a wholly-owned subsidiary under the Light & Wonder umbrella.
A Unified Vision for Success
Matt Wilson, the President and CEO of Light & Wonder, emphasized the advantages of fully integrating SciPlay with their operations. This strategic move will result in a more streamlined organization, fortified with the financial resources needed to expedite their cross-platform strategy and provide improved shareholder returns. The impressive results and market performance achieved by SciPlay further reinforce their confidence in the potential for continued success.
“As one company,” Wilson remarked, “we will foster enhanced collaboration among our talented teams. This synergy will enable us to develop and deploy the most captivating games across our digital and land-based platforms, creating a seamless and best-in-class player experience.”
Expanding the Portfolio: Exclusive Distribution Agreement
In addition to this acquisition, Light & Wonder has been actively expanding its portfolio. They recently signed an exclusive distribution agreement to bring slot developer Spribe’s games to the US market. This agreement will introduce Spribe’s flagship game, Aviator, along with a diverse portfolio of Turbo Games to the US audience. This strategic move enhances their presence in the American gaming landscape.
Building on Success with Playzido in Michigan
Light & Wonder’s commitment to growth is further evidenced by the launch of its content creation platform, Playzido, in Michigan. The Michigan Gaming Control Board (MGCB) awarded the company a B2B supplier license, enabling them to offer a wide array of content to Michigan’s thriving gaming market.
As Light & Wonder continues to make strategic investments and expand its presence in various markets, the acquisition of SciPlay underscores their commitment to growth and innovation. By fostering a more unified approach and leveraging the expertise of both companies, they aim to create an exceptional player experience and deliver even more engaging games across their digital and land-based platforms.