Grover’s charitable gaming division, known as Grover Charitable Gaming, generated $135 million in revenue during FY24.
Light & Wonder has announced a landmark agreement to acquire Grover Gaming’s charitable gaming assets in a deal worth up to $850 million.
This figure is subject to customary purchase price adjustments and includes a potential four-year revenue-based earn-out of up to $200 million. Grover’s charitable gaming division, known as Grover Charitable Gaming, generated $135 million in revenue during FY24.
While the acquisition remains subject to regulatory approval, Light & Wonder expects to finalize the deal in the second quarter of 2025.
Expanding Charitable Gaming in the U.S.
Grover Charitable Gaming has seen rapid growth in recent years, debuting pull tabs unit offerings in Kentucky in 2023 and installing over 10,000 leased electronic pull-tabs units across five U.S. states. The business is privately owned by Garrett Blackwelder, who will collaborate with Light & Wonder over the next three years.
Garrett Blackwelder, Owner of Grover Charitable Gaming, expressed his gratitude:
“I am very thankful for all of our Grover Gaming teammates and how hard they work every day. I’m also grateful for our customers’ loyalty over the past two decades. We realise without them we wouldn’t be where we are today. Light & Wonder is an ideal partner for us, given our similar company cultures and dedication to innovation and customer service. We are excited to see Charitable Gaming taken to a new level!”
Light & Wonder Strengthens Its Market Position
Matt Wilson, President & CEO of Light & Wonder, highlighted the strategic value of the deal:
“Grover Gaming is a leading player in charitable gaming, a category that has experienced significant growth in recent years. This transaction complements our position as the leading cross-platform global games company by adding another compelling regulated adjacency to our profile.
Importantly, there are exciting incremental revenue opportunities to be realized by leveraging Light & Wonder’s proven land-based gaming content to a new and loyal customer base. We look forward to continuing to partner with Grover Gaming’s customers, building on its strong dedication to customer service.”
Light & Wonder’s Continued Expansion
This acquisition follows several major strategic moves by Light & Wonder, including the recent appointment of Simon Johnson as CEO of the company’s iGaming division and a global distribution partnership with Playson, both announced in January