Light & Wonder, Inc. announced on May 19, 2025, the completion of its previously disclosed acquisition of Grover Gaming’s charitable gaming assets. The total consideration for the acquisition was $850 million in cash, subject to customary purchase price adjustments, along with a four-year revenue-based earn-out of up to $200 million in cash. This transaction integrates a leading provider of electronic pull-tabs into Light & Wonder's diversified portfolio.
The addition of Grover Charitable Gaming's assets and expertise aligns perfectly with Light & Wonder's strategy to expand into complementary regulated markets. This move enhances the company's position as a leading global cross-platform games company and opens new opportunities to deliver its content to a broader player base. The acquisition is expected to bring an attractive recurring revenue model and expand Light & Wonder's presence in regulated land-based markets.
Matt Wilson, President and CEO of Light & Wonder, stated that bringing Grover Gaming's assets and expertise into their ecosystem aligns with their strategy to expand into complementary regulated markets. This completion marks a significant step in Light & Wonder's growth trajectory, reinforcing its commitment to strategic acquisitions that drive value and market diversification.
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