The ShinesRooms.com Provides Stock Research onScientific Games Corp. and WMS Industries Inc.
New York City, New York - Over the last few years, casino and gaming industry has increased its focus on Macau, which has seen a significant rise in gaming revenue. The Macau market saw a slowdown in 2012 due to economic weakness in China, however, the Chinese economy is picking up pace since the start of this year. This should boost gaming revenue in Macau, benefiting casino and gaming companies. For Scientific Games Corp. (NASDAQ: SGMS), which earlier this year announced its decision to acquire WMS Industries Inc. (NYSE: WMS), the key will be to expand its geographic footprint.
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Gaming revenue in Macau has risen sharply over the last few years. Macau’s casino gaming revenue growth was 42% in 2011. In 2012, growth slowed to 14% mainly due to economic weakness in China. However, the Chinese economy is showing signs of a rebound since the start of this year, and this should boost casino gaming revenue in Macau.
The financial crisis of 2009 and the subsequent recession had a negative impact on gaming revenue in Las Vegas. However, the U.S. economy has shown signs of strong recovery in the last few months. This should boost gaming revenue in Las Vegas.
For casino and gaming companies, the key will be to expand their geographic footprint. Keeping this in mind, earlier this year, Scientific Games Corp. announced an acquisition bid for WMS Industries Inc. On January 31, 2013, Scientific Games Corp. signed an agreement to acquire WMS Industries Inc. for $26 per share in an all cash transaction. The company expects to complete the transaction by the end of this year.WMS Industries Inc.free research is available today at
Scientific Games believes that the acquisition of WMS Industries Inc. will be transformative for the company, and the combined company will offer a comprehensive scope of products and services to both government-sponsored and commercial customers in the lottery and gaming industries.Our free research report onScientific Games Corp.can be downloaded upon registration at
The company also believes that the acquisition will broaden its revenue and geographic diversification, build its scale in gaming and create a compelling position in interactive gaming.
Earlier this week, Scientific Games Corp. also reported its financial results for the fourth quarter ended December 31, 2012. The company’s revenue for the fourth quarter rose 4.3%, reflecting growth in Printed Products and Lottery Systems segments, partially offset by a decline in Gaming.
The company reported an operating loss of $6.3 million for the fourth quarter, compared to operating income of $19.2 million reported for the same period in the previous year. The company’s net loss for the quarter was $24.7 million.
A. Lorne Weil, Chairman and CEO of Scientific Games Corp., said that 2012 was a productive year for the company, with growth in revenue and attributable EBITDA and the securing of a number of key contracts. Weil said that the company is also excited about the pending acquisition of WMS Industries Inc., a transaction that is expected to create value for shareholders.
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