Scientific Games Secures Nevada Gaming Commission Approval For WMS Acquisition

(RTTNews) - Scientific Games Corp. (SGMS) Thursday said it has received approval from the Nevada Gaming Commission for the company's pending acquisition of WMS Industries Inc. (WMS).

As per the terms of the agreement, announced earlier in January, Scientific Games will acquire WMS for a cash consideration of $1.5 billion or $26.0 per share. The deal includes debt of $85 million and cash on hand of $55 million.

The acquisition, which was approved by WMS shareholders in May, is expected to close in the fall of 2013, subject to approval of gaming regulatory authorities and other customary closing conditions.

The proposed deal will create a global gaming company with a broad portfolio of products and services for the lottery and gaming industries, and will deliver innovative content, world-class technology and industry-leading services.