Light & Wonder announces $422m proposal to acquire remaining shares of SciPlay

May 18, 2023
Leer en Español

Light & Wonder wants remaining 17% equity interest in SciPlay Corporation.

Light & Wonder has revealed plans to purchase the remaining public shares in SciPlay.

In 2019, Light & Wonder IPOed SciPlay but news of the supplier wanting to reclaim full ownership of the division has caused SciPlay's stocks to shoot up 26% to $19.61.

Light and Wonder recently released its Q1 results for 2023, reporting revenue of $670m, a 17% yearly increase.

Currently, Light and Wonder already owns 83% of the economic interest and 98% of the voting interest in SciPlay. But the acquisition of the remaining shares would see it retain full ownership of the economic interest in the company.

The purchase of the remaining interest in SciPlay would have a number of benefits for Light and Wonder, according to the supplier. The company would hope it unifies its businesses, enabling easier collaboration with SciPlay through a cross-platform strategy.

Additionally, the combination of Light and Wonder and SciPlay's balance sheets would aim to provide flexibility – to invest cash across the enterprise.

At this stage, the proposal is an expression of interest only and nothing is binding. The valuation of the proposed transaction, however, stands at $422m. SciPlay overall has an impressive market capitalization of $2.45bn.

While nothing is confirmed and other companies have the right to make a bid for this remaining 17% of shares, Matthew Wilson, President and CEO of Light and Wonder said, "We would not expect, in our capacity as a shareholder of SciPlay, to vote in favor of any alternative sale, merger or other corporate transaction involving SciPlay nor divest or sell any portion of our ownership interest."


Product Spotlight


Things get unruly in the company of some fleecy characters in the new Konami Gaming’s new Unwooly Riches slot series.

Brian Uran - AI has shown casinos new ways to think about business


Adam Wexler: PrizePicks almost went out of business during Covid - but now...

Roughly six years after speaking to Gambling Insider as an upcoming start-up, PrizePicks CEO Adam Wexler joins the Huddle to reflect on huge growth since - which almost ground to a halt during the Covid-19 pandemic.

We cover:

- Entrepreneurship, regulatory changes and the pandemic

- Offering a different customer experience and differentiating by product

- Fantasy sports being strong enough without sports betting

- Barriers to entry in the fantasy market

- Opposition from FanDuel and DraftKings

- Targets, plans and the Philippines

- US markets and the future of fantasy

Five years ago, before the mass proliferation of social media we see today – and even before the Covid-19 pandemic – I think you would be hard pressed to find a CEO talking about “Instagrammable moments.” KPIs w...

The Global Gaming Awards: Looking ahead to 2024's ceremonies.
After more than a decade of celebrating gaming's best, Gaming America looks ahead to a bright 2024 for the Global Gaming Awards in the Americas and Asia-Pacific.
From the top: The Indian Gaming Tradeshow & Convention
Tribal gaming is a uniquely American institution and all its uncommon attributes were on display this April at the Indian Gaming Tradeshow & Convention in Anaheim, California.
Review: Terre Haute Casino Resort and Harrah's Hoosier Park Racing & Casino
Terre Haute Casino Resort vs. Harrah's Hoosier Park Racing & Casino, Gaming America's Laura Mack reviews each property.
Eureka Casino interview: CEO Andre Carrier on resort expansion
We spoke with returning guest, CEO Andre Carrier, about Eureka Casino Resort's expansion. He aims to not only change the look and feel of the casino, but to also build residential housing around it.