Grover Gaming and G2 Gaming on Monday completed the sale of charitable gaming assets to Light & Wonder for consideration of up to $1.05 billion.
The deal involved the initial $850 million received on May 16, with a contingent cash consideration of up to $200 million. The additional amount depends on meeting specific financial targets by 2028.
“I am very thankful for all of our Grover Gaming teammates and how hard they have worked to make this possible,” Grover Gaming CEO and Founder Garrett Blackwelder said in a statement. “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.”
About 120 employees of Grover Gaming, predominately based in Virginia, Ohio, Kentucky, New Hampshire, and North Dakota, will now 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 Grover Gaming Chief Development Officer Kevin Morse. “We are very happy to complete this deal and are excited to see Light & Wonder take Charitable Gaming to a new level.”
