Business & Tech
Waukegan Slot Machine Maker to be Sold for $1.5 Billion
Game maker WMS Industries, which has about 1,100 Illinois employees, has been sold to the Scientific Games Corp.
Can you say jackpot?
Waukegan-based WMS Industries, Inc., a leading supplier of casino slot machines with themes based on The Price is Right, The Lord of the Rings and the rock band KISS, has been sold to Scientific Games Corp., an instant-win lottery ticket company, for about $1.5 billion, reports Crain's Chicago Business.
The sale, which is not expected to affect the company's 1,100 Illinois employees, represents a 59 percent premium to its closing price of $16.37 on Wednesday, reports Crain.
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In 2010, the Chicago Tribune ranked WMS No. 1 on its Top 5 list of large companies to work for. Macy's came in second.
"The acquisition of WMS is transformational for Scientific Games, enabling us to offer a complete portfolio of lottery and gaming products and services to both new and existing customers around the world," said A. Lorne Weil, Scientific Games' Chairman and Chief Executive Officer."
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The sale is expected to be completed by the end of this year, pending shareholder approval and other closing details, according to a Scientific Games Corp. press release.
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