Slot supplier Light & Wonder, Inc. announced that it has submitted a proposal to the board of directors of SciPlay Corporation to acquire the remaining 17 percent equity interest in SciPlay, its social gaming arm, that it does not currently own. L&W is offering $20 per share in an all-cash transaction valued at $422 million. Following the transaction, SciPlay would become a wholly owned subsidiary of Light & Wonder.
According to a statement by the company, the remaining interest in SciPlay would unify L&W’s businesses, enabling seamless collaboration with SciPlay that will add further momentum to the company’s robust cross-platform strategy, and would combine the L&W and SciPlay balance sheets, providing flexibility to invest cash across the enterprise where it will best drive shareholder value.
“The proposed consideration would imply an enterprise value of $2.1 billion for SciPlay and a premium of 28.5 percent based on the SciPlay closing stock price as of the close of business on May 17, 2023, the last trading day prior to the proposal,” L&W President and CEO Matt Wilson said in an email to the SciPlay board.
In a separate announcement, L&W and Shift4, a leader in integrated payments and commerce solutions, highlighted an agreement for Shift4 to integrate its payment processing technology into Light & Wonder’s cashless table-top debit solution, AToM.
An easy, point-of-play PIN debit solution, AToM allows players to access funds without leaving the table or handling cash. AToM promotes increased player retention and provides real-time accounting and game reports, and keeps the game moving. As a leader in payment processing solutions, Shift4 will integrate its commerce-enabling technology with AToM’s cashless solution to deliver a seamless gaming experience.
“AToM is unbelievably simple and intuitive, and offers a great convenience for players,” said Mike McKiski, L&W’s senior vice president, global gaming, tables. “Integrating Shift4’s payment processing capabilities allows us to drive greater value and retention for our customers and a better experience for players. These solutions complement each other, and our current product family, enabling us to deliver a truly differentiated offering.”
“Shift4 is transforming commerce across various industries with a simplified payment experience that seamlessly integrates into leading technology solutions,” said Anthony Perez, Shift4’s senior vice president of new verticals.