Light & Wonder has officially completed its $1.05 billion acquisition of Grover Gaming’s charitable gaming division, marking a significant strategic expansion in the regulated charitable gaming sector across the United States.
First announced in February, the transaction comprises an initial cash payment of $850 million, with an additional earnout of up to $200 million, subject to Grover Gaming’s future performance metrics.
Grover Gaming, which generated $135 million in revenue and $111 million in adjusted EBITDA in 2024, operates across key US states including Ohio, New Hampshire, Kentucky, North Dakota and Virginia. Through this acquisition, Light & Wonder secures a prominent position in these charitable gaming markets, further diversifying its regulated operations.
The move supports Light & Wonder’s wider cross-platform content strategy and underscores its commitment to growing in adjacent regulated verticals.
Matt Wilson, CEO of Light & Wonder, commented:
“Grover Gaming has carved out a leadership role in the fast-growing charitable gaming sector. Integrating their talent and capabilities into our ecosystem is perfectly aligned with our strategy to enter adjacent, regulated markets. This acquisition strengthens our standing as a global cross-platform games provider and opens new pathways to bring our premium content to more players around the world. We’re thrilled to welcome the Grover team to Light & Wonder.”
Brian Brown, CEO of Grover Gaming, added:
“Becoming part of Light & Wonder is an exciting step forward for our charitable gaming division. We’re incredibly proud of what we’ve achieved and look forward to accelerating our growth within a larger, innovation-driven organisation. Both our teams share a deep dedication to customers and communities, and we’re excited to build on that shared vision together.”
This acquisition reinforces Light & Wonder’s global growth trajectory, cementing its position as a leader in content creation, platform technology, and expansion into regulated gaming markets. With the addition of Grover Gaming’s well-established presence and operational expertise, Light & Wonder enhances its portfolio and extends its influence across the charitable gaming sector.