By Greg Hazley
Scientific Games Corp., the New York-based lottery software and ticket maker, is leaning in Abernathy MacGregor Group for PR support in its $1.5B acquisition of WMS, a developer of slot machines and other gaming terminals.
WMS, based in Waukegan, Ill., works with JCIR for financial communications support. William Pfund is VP of IR and Mollie Cole is director of comms.
Scientific Games, which counts billionaire Ronald Perlman as a board member and its largest shareholder, called the deal “transformational” for the company. The $26-per-share offer includes assumption of debt of $85M and cash on hand of $55M.
WMS shareholders and gaming regulatory authorities have to sign off on the deal.
Reuters said increasing demand from emerging markets like China in the gaming sector is driving deals in the space. The deal follows Pinnacle Entertainments $2.8B move on Ameristar Casinos in December. Sard Verbinnen & Co. works with Pinnacle.
AbMac’s M&A president Tom Johnson is handling the SGC deal with managing director Michael Pascale.
JCIR, formerly Jaffoni & Collins, founder Joe Jaffoni and senior managing director Richard Land advise WMS. |