Light & Wonder is acquiring Grover Gaming’s charitable gaming assets for up to $1.05bn. The announcement on Tuesday explained that the gambling technology company will pay $850m of the total in cash upon the transaction’s closure, with the additional $200m depending on hitting financial targets through 2028. This acquisition is expected to close in Q2 2025, pending the relevant regulatory approvals.
leased out more than 10,000 electronic pull-tab machines
The Grover Charitable Gaming subsidiary started in 2013 and operates in five US states: New Hampshire, Kentucky, Virginia, Ohio, and North Dakota. It has leased out more than 10,000 electronic pull-tab machines in these regions.
Light & Wonder CEO and President Matt Wilson noted Grover Gaming’s major growth in recent years as a “leading player in charitable gaming.” He believes the acquisition will greatly bolster Light & Wonder’s ability to target a new and loyal customer base.
Grover Gaming Founder and CEO Farrett Blackwelder thanked all their customers’ dedication and his company’s employees for their efforts. He believes Light & Wonder is the perfect partner due to their joint commitment to customer service and innovation.