Light & Wonder buys Grover Gaming for $850M
Key Takeaways
Light & Wonder is acquiring Grover Gaming’s charitable gaming business for $850 million. This acquisition expands Light & Wonder’s portfolio into a growing market and strengthens its position in the regulated gaming sector. Grover Gaming operates over 10,000 electronic pull-tab machines across five U.S. states and has established itself as a leading provider. The transaction is expected to be completed in the second quarter of 2025.
Strategic Importance of the Acquisition
With this move, Light & Wonder is entering a new gaming segment beyond its core markets. The acquisition aligns with the company’s strategy of investing in regulated and high-growth sectors. By integrating Grover Gaming’s products with Light & Wonder’s existing offerings, new revenue opportunities will emerge.
Executive Statements
Matt Wilson, President and CEO of Light & Wonder, highlights the significance of the deal:
“Grover Gaming is a leading provider in the charitable gaming sector, a market with strong growth. This acquisition complements our portfolio and creates new opportunities to bring our proven land-based gaming content to a new customer base.”
Garrett Blackwelder, CEO and Founder of Grover Gaming, sees Light & Wonder as the ideal partner:
“I am grateful for our team and customers who have supported us for over two decades. Light & Wonder shares our values in innovation and customer service. We look forward to taking charitable gaming to the next level.”
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Integration and Outlook
Following the completion of the acquisition, employees from both companies will be integrated into the new structure. Light & Wonder plans to further develop Grover Gaming’s proven products with its own expertise. Expanding into the charitable gaming market could enable long-term growth.
Our Assessment
Light & Wonder’s acquisition of Grover Gaming is a strategic move to establish itself in a growing and regulated market. The combination of Grover’s successful pull-tab business and Light & Wonder’s expertise in the gaming sector holds potential for innovation and expansion. The integration process will be crucial to the success of the transaction.
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