M&A - Light & Wonder, Inc.

Form Type: 8-K

Filing Date: 2025-05-16

Corporate Action: Acquisition

Type: New

Accession Number: 000110465925050011

Filing Summary: On May 15, 2025, Light & Wonder, Inc.'s wholly owned subsidiary, Light and Wonder International, Inc. (LNWI), entered into a credit agreement to secure a term loan facility of $800 million. This facility is backed by the assets of both LNWI and Light & Wonder, Inc., with a maturity date set for May 15, 2028. The proceeds are allocated towards the previously announced acquisition of Grover Gaming's charitable gaming business. On May 16, 2025, the acquisition of specified assets and liabilities from Grover Gaming, Inc. and G2 Gaming, Inc. was finalized at a total cost of $850 million cash, with potential earnings-based adjustments valuing up to $200 million.

Form Type: 10-Q

Filing Date: 2025-05-07

Corporate Action: Acquisition

Type: New

Accession Number: 000075000425000031

Filing Summary: Light & Wonder, Inc. filed its quarterly report for the period ended March 31, 2025, reflecting the company's financial conditions, including a total revenue of $774 million, up from $756 million in the prior year. The report highlights key operational segments and discusses the ongoing process of acquiring Grover Charitable Gaming, detailing potential risks and costs associated with the acquisition. Despite the challenges in regulatory approvals, the company anticipates strategic benefits from the acquisition, alongside its broader operations in gaming, characterized by various segments including gaming operations, gaming machines, and their SciPlay digital segment.