Grover Gaming, Inc. and G2 Gaming, Inc., known collectively as Grover Gaming, announced Monday that it has completed the sale of its charitable gaming assets, Grover Charitable Gaming, for a total consideration of up to $1.05 billion to Light & Wonder, Inc.
The deal involved the initial $850 million received on Friday with a contingent cash consideration of up to $200 million. This additional amount depends on meeting specific financial targets by 2028, according to Grover Gaming.
“I am very thankful for all of our Grover Gaming teammates and how hard they have worked to make this possible,” said Garrett Blackwelder, CEO and Founder of Grover Gaming.
“I’m also grateful for our customers’ loyalty over the past two decades. We realize without them, we wouldn’t be where we are today.”
Light & Wonder, Grover Gaming Develop Social Casino Games
Light & Wonder makes social casino games through its SciPlay division, which also develops free-to-play social casino games and casual content for sweepstakes casinos.
In addition, Light & Wonder’s platform boasts a diverse collection of over 6,000 games, innovated and tested via collaborations with over 85 of the industry’s top game studios.
Meanwhile, Grover Gaming is a leading supplier of premium casino games and slots to land based, online, and mobile gaming markets. The company provides licensed content for class II, class III, pull tabs, skill and redemption, social, online, and charitable gaming markets.
Approximately 120 employees of Grover Gaming are based mostly in Kentucky, Ohio, New Hampshire, Virginia, and North Dakota. Those employees will now go to work for Light & Wonder.
“The real winners in this deal are the charities and fraternals in these markets, because of the exciting game content L&W brings to the table,” said Kevin Morse, Chief Development Officer of Grover Gaming. “We are very happy to complete this deal and are excited to see Light & Wonder take Charitable Gaming to a new level.”