India, Feb. 18 -- Light & Wonder, Inc. (LNW), a cross-platform games provider, announced Tuesday its definitive agreement to acquire the charitable gaming assets of Grover Gaming, Inc. and G2 Gaming, Inc. for total consideration of $850 million cash. The consideration also includes a four-year revenue based earn-out of up to $200 million cash.
Further, Light & Wonder reaffirmed its 2025 consolidated AEBITDA target of $1.4 billion, with continued strong organic growth across its existing businesses.
Regarding the acquisition of Grover Charitable Gaming, the company said the deal is expected to be highly accretive to value and earnings with high-single digit Adjusted NPATA per share accretion in the first full calendar year post acquisition...