Deals
Light & Wonder Merger with Sciplay Sought by Engine Capital
- Simplifying structure would benefit both firms, investor says
- Without deal, Sciplay should review strategic options: Engine
Slot machines on the main casino floor of Resorts World Las Vegas.
Photographer: Roger Kisby/BloombergThis article is for subscribers only.
An investor in Light & Wonder Inc. and its subsidiary Sciplay Corp. is urging the gaming companies to merge in an effort to improve value for their shareholders.
Engine Capital owns a stake of more than a 5% in Sciplay and a smaller stake in Light & Wonder, formerly known as Scientific Games Corp. The New York-based investment firm said in a letter to the boards of both companies Monday that it believes Light & Wonder purchasing the 19% of Sciplay that it doesn’t already own would simplify the company’s structure, reduce the overhang on its shares, and provide immediate value to Sciplay’s shareholders.