Light & Wonder completes acquisition of Grover Gaming’s charitable gaming assets
Grover has over 10,000 leased electronic pull-tab units in North Dakota, Ohio, Virginia, Kentucky, and New Hampshire.
US.- Light & Wonder has completed its acquisition of Grover Gaming’s charitable gaming assets for $850m in cash and a four-year revenue-based earn-out of up to $200m cash. The company entered a definitive agreement in February.
Previously owned by Garrett Blackwelder, Grover has over 10,000 leased electronic pull-tab units in North Dakota, Ohio, Virginia, Kentucky, and New Hampshire. It was founded in 2013 and is headquartered in Greenville, North Carolina. For the year ended December 31, 2024, it reported unaudited revenue of $135m and adjusted EBITDA of $111m.
Matt Wilson, President and CEO of Light & Wonder: “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 the new Light & Wonder division, added: “Joining 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 passion for innovation and a commitment to serving customers and communities, and we’re excited to take that to the next level together.”
Recently, Light & Wonder reported financial results for the first quarter ended March 31, 2025. The company achieved its 16th consecutive quarter of year-over-year revenue growth. Gaming revenue increased to $495m, up 4 per cent compared to the prior year period, driven by growth across all lines of business, including 9 per cent in table products and 5 per cent in both gaming systems and gaming operations.
