Light & Wonder takes over full ownership of SciPlay

New York-listed gaming supplier Light & Wonder has taken over full ownership of social and casual gaming operator SciPlay Corporation.

After entering into a definitive agreement in August, Light & Wonder has completed the acquisition of the remaining 17 per cent equity interest in SciPlay that it did not previously own for $22.95 per share in cash.

“Fully integrating SciPlay with Light & Wonder creates a more streamlined organization with the financial strength to accelerate our cross-platform strategy and deliver enhanced shareholder returns,” said Light & Wonder president and CEO Matt Wilson. “SciPlay continues to achieve record-setting results and market outperformance, and we are confident that together we will build on their considerable momentum.

“As one company, we will drive improved collaboration between our talented teams to build and deploy the most engaging games across our digital and land-based platforms and create a more seamless, best-in-class player experience.”

SciPlay will operate as a wholly-owned subsidiary of Light & Wonder, with SciPlay’s shares ceasing trading on the Nasdaq Global Select Market on Friday.

Shares in Light & Wonder Inc (NASDAQ:LNW) closed 0.53 per cent lower at $74.58 per share in New York Friday.