Grover Gaming sells charitable assets to Light & Wonder in $1.05 billion deal

Grover Gaming has completed the sale of its charitable gaming assets to Light & Wonder for up to $1.05 billion. The transaction includes an initial $850 million cash payment, with an additional $200 million contingent on meeting 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,” said Garrett Blackwelder, CEO and Founder of Grover Gaming. “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.”

As part of the agreement, around 120 Grover Gaming employees will join Light & Wonder. These employees are primarily located in Virginia, Ohio, Kentucky, New Hampshire, and North Dakota.

Kevin Morse, Chief Development Officer at Grover Gaming, stated: “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. We are very happy to complete this deal and are excited to see Light & Wonder take Charitable Gaming to a new level.”

Light & Wonder struck the deal to purchase the assets back in February and is set to operate the business with a combination of Grover employees and its own staff. Grover Charitable Gaming has an installed base of over 10,000 leased electronic pull-tab units across the states of Nevada, Ohio, Virginia, Kentucky, and New Hampshire. 

“Grover Gaming has established itself as a leader in the fast-growing charitable gaming space,” Light & Wonder President and CEO Matt Wilson said. “Bringing their assets and expertise into our ecosystem aligns perfectly with our strategy to expand into complementary regulated markets.”