Light & Wonder Officially Complete SciPlay Acquisition
LISTEN TO THIS ARTICLE:Light & Wonder (L&W), an industry-leading games provider, has announced that it has completed the acquisition of SciPlay, the digital games developer.
The deal, which was first proposed in May earlier this year, was finally completed once L&W acquired the remaining 17% of SciPlay. Light & Wonder paid $22.95 per share to bring the company into 100% ownership and this will remove SciPlay from the Nasdaq share trading platform.
Related: Light & Wonder Proposes to Buy Developer SciPlay for $422 million
The board at L&W says they are delighted to complete the purchase of SciPlay as the developer boasts record-breaking recent results and is one of the top performers in the sector.
Fully integrating SciPlay with Light & Wonder creates a more streamlined organization with the financial strength to accelerate our cross-platform strategy and deliver enhanced shareholder returns, SciPlay continues to achieve record-setting results and market outperformance, and we are confident that together we will build on their considerable momentum. As one company, we will drive improved collaboration between our talented teams to build and deploy the most engaging games across our digital and land-based platforms and create a more seamless, best-in-class player experience.
Creation of a More Streamlined Organization
Senior leadership at Light & Wonder has outlined the benefits of making SciPlay a wholly owned subsidiary of the games provider and making the company part of the group.
They believe the integration of SciPlay into L&W will lead to a more streamlined organization and will lead to a more financially strong company. Another benefit is the potential collaboration of the teams at both SciPlay and L&W, which the company hopes will lead to an increase in the development of more engaging games.
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