Prime online casino firm WMS Industries and one of the leading gaming machine outfitter and lottery technologies provider have once again made big news in the industry. This is because Scientific Games, which is a major competitor of the newly purchased firm, recently acquired WM Industries. WMS has frequented the limelight recently with its launching of its online gaming subsidiary Williams Interactive partnership with Jackpot Party social casino and other huge accounts in European and Canadian markets. In addition, WMS received a license to offer its online poker products in Nevada. It has also completed deals with 888’s b2b subsidiary Dragonfish. The deal was said to be worth $1.42 billion.
According to Scientific Games’ chief executive Lorne Well, the transformational prime online acquisitions will allow Scientific Games to offer a comprehensive portfolio of lottery gaming products and services to its existing and potential players all across the globe. Jeffrey Lipkin, the chief financial officer also said that the acquisition would open a more diversified Scientific Games revenues base thereby expanding its margin and drive future growth. The deal is yet on the process of ironing things out by shareholders and regulators. It is expected to be completed by 2013. Lipkin further explained that acquiring the WMS prime subsidiary is a great example of an old but well developed firm that is being purchased by another company whose main focus is expansion and diversification.
The worth of the deal only represents the 59 percent of WMS’ premium share value and its future market initiatives. According to the proposal presented to the investors, the reason for such acquisition is to drive Scientific Games’ future growth and expansion particularly to the international markets. Moreover, this deal will add substantial value to Scientific Games Corporation in this very lucrative online casino industry. The recent stock value of prime casino company Scientific Games has gone up by 6.76 percent on the New York Exchange. The outcome of the consolidation is expected to be up and running within this year. What is great about this deal is that both parties are in a win-win situation.