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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.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)