WMS Acquires Orion Gaming

WMS announced on July 13, 2006, that they have completed their acquisition of privately-held Orion Financement Company, otherwise known as Orion Gaming. The Netherlands-based company designs, manufactures, and distributes gaming and slot machines. The total amount was $30.2 million dollars, of which $11 million was for debt retirement. Orion stockholders received $9.6 million in cash and approximately 366,400 shares of WMS common stock.

The fact that Orion Gaming was an international presence in the gaming and slot machine world was what made them so attractive to WMS Industries, as they feel that this will help them gain access into many of those international markets. They are planning on investing much into the product development efforts, and adding in a video market in Europe as well. They believe that the expansion from traditional slot machines will add to the enhancement of distribution as well.

WMS Industries Inc. was already engaged in the design, manufacture, sales, and lease of gaming machines, slot machines, and video lottery terminals, or VLTs. This acquisition will serve as a huge boost to their company.
 

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