SCPL - SciPlay soars after Light & Wonders offers to buy remaining stake

2023-05-18 08:25:20 ET

Light & Wonder ( NASDAQ: LNW ) disclosed on Thursday that it submitted a proposal to the board of SciPlay Corporation ( SCPL ) to acquire the remaining 17% equity interest in SciPlay that it does not currently own.

The deal price for the transaction is at $20.00 per share. Following the transaction, SciPlay ( SCPL ) would become a wholly owned subsidiary of Light & Wonder ( LNW ).

The gambling products and services company said that by picking up the remaining stake in SciPlay ( SCPL ) it could unify L&W’s businesses, enabling seamless collaboration with SciPlay that is seen adding further momentum to the cross-platform strategy. In addition, combining the L&W and SciPlay balance sheets is expected to provide flexibility for cash to be invested across the enterprise where it will best drive shareholder value.

Shares of SciPlay ( SCPL ) soared 23.71% to $19.05 in premarket action following the LNW offer. Light & Wonder ( LNW ) fell 0.44% .

For further details see: