NEW YORK -- (PRESS RELEASE) -- Scientific Games Corporation (SGMS) announced today that it has completed the acquisition of WMS Industries Inc. (WMS), combining leading businesses offering lottery games, gaming machines and game content, systems, sports betting technology, and social, mobile and interactive content and services.
"We are pleased to announce the successful completion of our merger with WMS," said A. Lorne Weil, Scientific Games' Chairman and Chief Executive Officer. "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."
Mr. Weil continued, "We are excited to be able to draw on each organization'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."
WMS was acquired for approximately $1.5 billion in cash. In connection with the merger, Scientific Games entered into a new $2.6 billion credit facility, consisting of a $2.3 billion term loan facility and a $300 million revolving credit facility that was undrawn at closing. The term loan facility was used, in part, to finance the acquisition, to pay off existing indebtedness and to pay fees and expenses relating to the merger and related financing.
About Scientific Games
Scientific Games Corporation is a leading developer of technology-based products and services and associated content for worldwide gaming and lottery markets. The Company's portfolio includes instant and draw-based lottery games; electronic gaming machines and game content; server-based lottery and gaming systems; sports betting technology; loyalty and rewards programs; and social, mobile and interactive content and services.
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