- Light & Wonder (LNW, Financial) completes $850 million acquisition of Grover Gaming's charitable gaming assets.
- The deal also includes a revenue-based earn-out of up to $200 million over four years.
- The acquisition aims to strengthen Light & Wonder's position in the charitable gaming market.
Light & Wonder, Inc. (LNW) has finalized its acquisition of Grover Gaming’s charitable gaming assets for a total of $850 million in cash, along with a potential four-year revenue-based earn-out of up to $200 million. This move is part of Light & Wonder's ongoing strategy to expand into complementary regulated markets.
The acquisition, announced earlier, marks a strategic enhancement for Light & Wonder. "Grover Gaming has established itself as a leader in the fast-growing charitable gaming space," said Matt Wilson, President and CEO of Light & Wonder. "Bringing their assets and expertise into our ecosystem aligns perfectly with our strategy to expand into complementary regulated markets."
Brian Brown, CEO of Grover Gaming, welcomed the acquisition, stating, "Joining Light & Wonder marks an exciting new chapter for the charitable gaming business. Our teams share a passion for innovation and a commitment to serving customers and communities, and we’re excited to take that to the next level together."
This acquisition is expected to bolster Light & Wonder's position as a leading global cross-platform games company by broadening its portfolio and enhancing its ability to deliver world-class content to a wider audience.
