News Summary: Scientific Games buying WMS

Thursday - 1/31/2013, 9:43am EST

NEW YORK (AP) - GAMING DEAL: Scientific Games Corp., an instant-win lottery ticket company, is buying gaming equipment company WMS Industries Inc. for approximately $1.42 billion. Scientific Games, which also makes video slot machines and other gaming systems, said the deal will expand its product offerings.

THE DETAILS: Scientific Games will pay $26 per WMS share. The companies put the deal's total value at approximately $1.5 billion, including $85 million in debt.

CLOSING: The acquisition is expected to close by year's end. It still needs approval from WMS shareholders.

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