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Scientific Games Corp. Buying WMS to Create Major Lottery, Slot Brand
We have a winner if you bet that the $1.5 billion acquisition of slot machine manufacturer WMS Industries by Scientific Games Corporation would increase New York-based Scientific's street cred on Wall Street, please step forward: ding ding ding! The buyout is anticipated to create both WMS and Scientific Games in the neighbor hood of $100 million in complementary cost-savings between the 2 merged companies, and that's making investors' ears perk up.
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Scientific happens to be on the lookout for a slot machine game maker for awhile now; the organization provides lottery systems plus the equipment to perform the exact same to numerous US states, Canadian provinces as well as some foreign countries. Don't expect Nevada being certainly one of those though; not gonna happen.
For WMS stockholders, life is great; Scientific Games shelled out $26 per WMS share, that was approximately 59 percent over just what the slot manufacturer closed at back on Jan. 31 of this present year.
'We continue to develop more confident with the pending WMS acquisition from both a simple and more importantly business stability perspective,' said Stifel Nicolaus Capital Markets gaming analyst Steven Wieczynski about the merger at an investor meeting that is recent.
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And even though Nevada may not be getting a state lottery anytime soon, Scientific can nevertheless make