PHILADELPHIA, February 18, 2025: Morgan Lewis advised Grover Gaming Inc. and G2 Gaming Inc. on a definitive agreement for the sale of its Grover Charitable Gaming assets to Light & Wonder Inc. for a total consideration of up to $1.05 billion (inclusive of $850 million cash, payable upon closing of the transaction and subject to customary purchase price adjustments, and contingent cash consideration of up to $200 million, subject to the achievement of certain financial targets through 2028).
Grover Gaming is a provider of electronic pull tabs, video lottery terminals, and historical horse racing with more than 10,000 machines in more than a thousand locations nationwide. Light & Wonder is a cross-platform global games company.
Partners Richard Aldridge and Justin Chairman and associate Anjali Deshpande advised Grover Gaming, along with support from partners Don Shelkey, Ron Dreben, Harry Robins, Susan Zhu, Patrick Rehfield, Paul Gordon, August Heckman, Ezra Church; of counsel Ariane Baczynski; senior attorney Joseph Washington; and associates Matt Bannon, Mike Kitain, John Ceccio, Jared Sanders, Ian Wright, and Philip Wiese.