Originally announced in February, the transaction includes an initial cash payment of $850 million, with a further earnout of up to $200 million contingent on Grover Gaming’s future performance.
Light & Wonder has completed its previously announced acquisition of Grover Gaming’s charitable gaming assets, in a deal worth up to $1.05 billion—a major strategic move that strengthens its presence in the regulated charitable gaming space across the US.
Originally announced in February, the transaction includes an initial cash payment of $850 million, with a further earnout of up to $200 million contingent on Grover Gaming’s future performance.
In 2024, Grover Gaming reported $135 million in revenue and $111 million in Adjusted EBITDA. The business currently operates in Ohio, New Hampshire, Kentucky, North Dakota and Virginia—states in which Light & Wonder now gains a leading position in the charitable gaming vertical.
The acquisition supports Light & Wonder’s wider cross-platform content strategy, extending its footprint into a complementary sector of regulated gaming.
Matt Wilson, CEO of Light & Wonder, said:
“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, 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.”
The transaction further cements Light & Wonder’s evolution as a global leader in games content, platform development, and regulated market expansion, while bringing one of the most established names in charitable gaming into its growing portfolio.