LAS VEGAS, NV – Light & Wonder has completed its previously disclosed acquisition of Grover Gaming’s charitable gaming assets for total consideration of $850 million cash, subject to customary purchase price adjustments, and a four-year revenue-based earn-out of up to $200 million cash.
“Grover Gaming has established itself as a leader in the fast-growing charitable gaming space,” said Matt Wilson, President and CEO of Light & Wonder. “Bringing their assets and expertise into our ecosystem aligns perfectly with our strategy to expand into complementary regulated markets. This addition enhances our position as the leading global cross-platform games company and opens new opportunities to deliver our world-class content to even more players. We’re excited to welcome the Grover team to Light & Wonder.”
“Joining Light & Wonder marks an exciting new chapter for the charitable gaming business,” said Brian Brown, CEO, Grover Gaming (Light & Wonder’s new division). “We’re proud of what we’ve built in the charitable gaming space, and we see tremendous opportunity to grow even further as part of Light & Wonder. Our teams share a passion for innovation and a commitment to serving customers and communities, and we’re excited to take that to the next level together.”