Light & Wonder, previously known as Scientific Games Corp, a flagship developer of land-based and digital games based in Las Vegas, Nevada, has reported its latest proposal to purchase the remaining 17% stake in digital gaming company, SciPlay Corp.
Light & Wonder’s offer:
“SciPlay’s board has received an offer from the company in which Light & Wonder proposes to pay US$20.00 per SciPlay share, in an all-cash contract valued at US$422 million,” according to a Thursday press release. In addition, if the deal closes, SciPlay would officially become a wholly owned subsidiary of Light & Wonder. In this regard, the suitor stated that “the transaction would unify Light & Wonder businesses and balance sheet, accelerating the company’s cross-platform strategy, and optimizing investment of capital.”
“The proposed consideration would imply an enterprise value of US$2.1 billion for SciPlay, and a premium of 28.5 percent based on the SciPlay stock price as of the close of business on May 17,” according to the announcement. Furthermore, in a letter to SciPlay’s board, Light & Wonder’s president and chief executive, Matthew Wilson, said: “The proposed transaction offers SciPlay’s public shareholders a compelling combination of value, speed and certainty.” Additionally, he stated that “his company would not require any third-party financing to fully fund the deal. The firm does not expect the deal to require any regulatory approvals or the approval of Light & Wonder’s shareholders.”
Second attempt to buy the remaining shares:
Right now, Light & Wonder possess around 83% of the economic interest and 98% of the voting interest in SciPlay. On that note, Light & Wonder’s CEO also said: “The company would not expect to vote in favor of any alternative sale, merger or other corporate transaction involving SciPlay, nor divest or sell any portion of our ownership interest.” However, this is Light & Wonder’s second attempt to purchase the remaining shares in SciPlay. During December 2021, the company removed its all-shares offer to purchase what was at the time a 19% remaining stake in SciPlay. Additionally, SciPlay was previously a wholly owned subsidiary of the then Scientific Games, and operated as its social gaming arm. But, during 2019, the parent directed an initial public offering of a minority interest in SciPlay.
Light & Wonder said on Wednesday that “it had received conditional approval from the Australian Securities Exchange for the company’s secondary listing on that bourse.” Furthermore, the company disclosed a net profit of US$27 million in the three months to March 31, compared with a loss of US$67 million a year earlier.
A Casino India bonus refers to promotional offers provided by online casinos in India to attract new players and retain existing ones. These bonuses come in various forms and provide players with extra value when they sign up, deposit, or play on the platform. The goal is to enhance the player's experience by offering them more chances to win or by extending their playtime without having to risk their own money.
How to Use a Casino India Bonus:
- Sign Up and Claim: Create an account with the online casino. In some cases, you may need to enter a bonus code to claim the bonus.
- Deposit Funds: If it's a deposit-based bonus, make the required deposit to qualify.
- Play Eligible Games: Use the bonus funds on eligible games, ensuring you meet the wagering requirements.
- Withdraw Winnings: Once you've met the wagering requirements, you can withdraw your winnings (subject to casino terms).
