Scientific Games completes WMS Industries acquisition
Gaming solutions provider Scientific Games has completed the acquisition of slot machine provider WMS Industries in a deal worth approximately $1.5 billion (€1.11 billion).
The confirmation of the purchase comes shortly after the Nevada Gaming Commission approved the deal at the end of September.
In connection with the merger, Scientific Games has entered into a new $2.6 billion credit facility consisting of a $2.3 billion term loan facility and $300 million revolving credit facility.
The term loan was partly used to finance the WMS acquisition, pay off existing indebtedness, and for fees and expenses relating to the merger and financing.
“The acquisition of WMS is transformational for Scientific Games as it creates a leading company in the gaming industry with innovative content, world-class technology and an expansive geographical footprint, able to supply an extensive range of products and services to customers throughout the world,” Scientific Games’ chairman and chief executive officer, A. Lorne Weil, said.
“We are excited to be able to draw on each organisation's core strengths to offer enhanced capabilities, systems and content.
“The combined company will provide a broader portfolio of products and services to our customers, offer expanded opportunities for our employees and is poised to deliver meaningful long-term value for our shareholders.”