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Read Full BioLight & Wonder (L&W) has expanded its portfolio, acquiring a 20% equity stake in London-based slot studio Bang Bang Games.
It comes as L&W, a cross-platform gaming company headquartered in the United States, seeks to continue its aggressive global expansion.
“We’re incredibly pleased to welcome Bang Bang as a partner,” Stuart Banks, Managing Director of Global Partnerships, said in a release. “They’re a talented team with a proven track record and an exciting and engaging vision.”
“This investment is a great example of how we support studios through the Light & Wonder Spark program — helping them grow, scale, and succeed on a global stage.”
As part of the deal, the terms of which have not been disclosed, Bang Bang will seek to solidify its presence in the U.S.
“We’re incredibly proud to take this next step in our journey with Light & Wonder,” Bang Bang CEO Frank McPolin commented. “Being part of the Light & Wonder Spark program has already opened up fantastic opportunities for us, and this investment is a strong endorsement of the work we’re doing.”
“With Light & Wonder’s support, we’re in a great position to build on that momentum, grow our reach, and deliver even more bold, creative content to players globally.”
Month of Dealmaking for Light & Wonder
This continues a busy April for the company, formerly Scientific Games Corporation, which recently agreed to a partnership with Incentive Games. The agreement, which Incentive Games CEO Josh Gordon called a “landmark moment in (his company’s) history, allows Light & Wonder to distribute game titles to the U.S., Canada, Europe, and South Africa.
It also makes Incentive Games’ free-to-play content accessible to a broader audience through L&W’s content marketplace.
Last month, Light & Wonder reached an $850 million deal to acquire charitable gambling business Grover Gaming. Founded in 2013, Grover Gaming operates across five states (Kentucky, New Hampshire, North Dakota, Ohio, and Virginia). On its website, the company touts itself as “one of the country’s premier providers of electronic pull tabs, video lottery terminals, and historical horse racing with over 10,000 machines in over a thousand locations nationwide.”
Light & Wonder CEO Matt Wilson said the acquisition: “complements our position as the leading cross-platform global games company by adding another compelling regulated adjacency to our profile.”
