Grover: Light & Wonder Finalizes Acquisition of Charitable Gaming Assets
Deal News | May 20, 2025 | EIN
Light & Wonder has finalized its acquisition of Grover Gaming's charitable gaming assets for $850 million, plus a potential $200 million earn-out. This acquisition incorporates over 10,000 leased electronic pull-tab units installed across five U.S. states. This strategic move allows Light & Wonder to expand into regulated markets. Brian Brown, Grover's founder, will head the division within Light & Wonder. Concurrently, Sega Sammy is nearing the completion of its acquisition of GAN, valued at $107.6 million, expected to finalize by 27 May, with the merger leading to GAN's integration into Sega Sammy Creation.
Sectors
- Gaming and Casino
- Mergers & Acquisitions
Geography
- United States – Light & Wonder's acquisition of Grover Gaming involves operations across five U.S. states.
- Japan – Sega Sammy is a Japanese company finalizing its acquisition of GAN.
Industry
- Gaming and Casino – The article involves companies operating in the gaming and casino industry, focusing on transactions related to gaming assets and casino operators.
- Mergers & Acquisitions – The focus of the article is on M&A activity involving significant acquisitions by Light & Wonder and Sega Sammy.
Financials
- $850 million – The purchase price for Grover Gaming's assets by Light & Wonder.
- Up to $200 million – Potential earn-out for Grover Gaming deal.
- $107.6 million – Purchase price for GAN by Sega Sammy.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Light & Wonder | Bidding Company | Company | A gaming company acquiring Grover Gaming's charitable gaming assets. |
| Grover Gaming | Target Company | Company | A company providing leased electronic gaming units, being acquired by Light & Wonder. |
| Sega Sammy | Bidding Company | Company | A Japanese company acquiring GAN. |
| GAN | Target Company | Company | A company involved in providing gaming software and hardware, being acquired by Sega Sammy. |
| Brian Brown | Person | People | Founder of Grover Gaming, to lead the division within Light & Wonder. |