Light & Wonder Acquires Grover Gaming’s Charitable Assets

acquisition of Grover Gaming’s charitable gaming assets in a transaction valued at $850 million in cash. The deal also includes a potential earn-out of up to $200 million over four years, contingent on Grover’s financial performance. This move highlights Light & Wonder’s ongoing commitment to expanding its footprint within regulated charitable gaming markets, an area that has demonstrated consistent growth and innovation.

Expanding Presence in Charitable Gaming

Grover Gaming, which will now operate as a division of Light & Wonder, achieved $135 million in revenue for fiscal year 2024. By ing forces with Light & Wonder, Grover gains access to a much larger distribution network and a broader portfolio of game content, which positions the company to accelerate growth in this dynamic sector. Charitable gaming has been an increasingly important segment, blending fundraising efforts with entertainment, and Light & Wonder’s enhanced scale and technology will enable Grover to better serve operators and players alike.

This acquisition is also expected to bring operational synergies, allowing for shared innovation and expanded product offerings. Light & Wonder’s ability to deliver cross-platform content means Grover’s charitable gaming titles can now reach more players across various digital and physical channels. Moreover, Light & Wonder’s commitment to compliance and responsible gaming aligns well with the charitable sector’s regulatory landscape, which often emphasizes transparency and player protection.

Leadership Perspectives on the Deal

Matt Wilson, President and CEO of Light & Wonder, reflected on the strategic value of the transaction: “Grover Gaming has established itself as a leader in the fast-growing charitable gaming space. Bringing their assets and expertise into our ecosystem aligns perfectly with our strategy to expand into complementary regulated markets. This addition enhances our position as the leading global cross-platform games company and opens new opportunities to deliver our world-class content to even more players. We’re excited to welcome the Grover team to Light & Wonder.”

Brian Brown, CEO of Grover Gaming, now a Light & Wonder division, expressed enthusiasm about future opportunities: “ing Light & Wonder marks an exciting new chapter for the charitable gaming business. We’re proud of what we’ve built in the charitable gaming space, and we see tremendous opportunity to grow even further as part of Light & Wonder. Our teams share a ion for innovation and a commitment to serving customers and communities, and we’re excited to take that to the next level together.”

Strong Financial Momentum s Growth

The acquisition was financed through an $800 million Term Loan A facility, underscoring Light & Wonder’s financial strength and commitment to strategic expansion.

Light & Wonder’s recent financial results underscore this strength. In the first quarter of 2025, the company reported revenues of $774 million, reflecting a 2% increase and marking its 16th straight quarter of year-over-year growth. Both gaming and iGaming revenues grew by 4%, while EBITDA rose 11% to $311 million, accompanied by margin expansion across all divisions.

As a global leader in cross-platform gaming, Light & Wonder’s workforce exceeds 6,500 professionals who combine deep industry knowledge with dedication to player responsibility and sustainability. Incorporating Grover Gaming’s charitable assets enhances the company’s capacity to innovate within this space and reach new audiences with compelling gaming experiences.

Source:

Light & Wonder Completes Acquisition of Grover Gaming’s Charitable Gaming Assets, explore.lnw.com, May 19, 2025.