Light & Wonder completes $850M acquisition of Grover Gaming, financed with $800M term loan

Light & Wonder, Inc.

Acquired Grover Gaming charitable gaming business for $850M cash, plus up to $200M four-year earn-out.
Entered $800M Term Loan A facility maturing May 2028, secured by assets and guaranteed.
Loan pricing: Adjusted Term SOFR +1.75% or base rate +0.75%; amortizes quarterly.
Proceeds used to finance acquisition; first amortization payment due Sep 30, 2025.

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