Light & Wonder, a company specializing in gaming products, has revealed its plans to obtain the remaining 17% equity stake in SciPlay.
This decision has been made official by a binding agreement, under which Light & Wonder will acquire the outstanding shares for $22.95 per one and pay for the full transaction in cash.
The procurement received the unanimous confirmation of Light & Wonder’s Board of Directors, marking a crucial step towards finalizing the deal. Similarly, SciPlay’s board of directors granted their endorsement of the transaction, succeeding the leadership of a special committee made up of directors from SciPlay. The members of this committee carefully considered the deal and determined it to be in SciPlay’s best interest, supported by financial and legal specialists. In the outcome, the board confirmed the transaction.
The declaration also emphasised that SciPlay’s common stockholders had given their written permission to the deal, precluding the need for additional shareholder confirmation.
Pending the fulfillment of standard closing terms, the transaction is anticipated to conclude in the Q4 of 2023. After the successful finalization, SciPlay will officially transition into a fully owned subsidiary of Light & Wonder.
Showing his enthusiasm regarding the new agreement, Matt Wilson, the CEO of Light & Wonder, conveyed his thrill. He said that anticipation in amalgamating their exceptional teams and embracing the chance to foster innovation and expansion as a cohesive entity. This united front aims to bring about positive outcomes for the staff, users, and shareholders alike.
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