Light & Wonder has entered the charitable gambling sector by agreeing to acquire Grover Gaming for $850m.
Grover Gaming operates in five US states – North Dakota, Ohio, Kentucky, New Hampshire and Virginia – allowing charities to benefit from its profits via the sale of pull tabs.
Charities that have directly benefited from Grover Gaming’s donations include the American Legion and Veterans of Foreign Wars. Since the company launched in 2003, it has raised over $200m.
The acquisition from Light & Wonder also includes an up to $200m contingent cash consideration. This is based on specific financial targets being met ahead of fiscal year 2028.
The iGaming supplier expects the deal to close in the second quarter of 2025, pending regulatory approvals. Its workforce will combine with Grover Gaming’s staff once the acquisition has been completed.
Light & Wonder CEO and President Matt Wilson stated: “Grover Gaming is a leading player in charitable gaming, a category that has experienced significant growth in recent years.
“This transaction complements our position as the leading cross-platform global games company by adding another compelling regulated adjacency to our profile.”
The charitable company operates over 10,000 electronic pull tab units across the five states it operates in, allowing Light & Wonder to cement itself as a leader in the charity gaming sector through the deal.
Light & Wonder’s latest M&A activity comes off the back of an interesting development in the supplier’s ongoing copyright case with Aristocrat. Last week, a request from Aristocrat for an injunction was rejected by an Australian court.
The ruling meant that the company’s Dragon Train slot machines could remain in Australian casinos despite efforts from Aristocrat for them to be removed from circulation.
This decision may have come as a surprise, as it differs from the decision taken in Nevada last year, which saw an injunction passed with Light & Wonder ordered to remove its Dragon Train gaming machines.
