M&A Deal Summary

Light & Wonder Acquires House Advantage

On October 6, 2022, Light & Wonder acquired software company House Advantage from Pine Tree Equity Partners

Acquisition Highlights
  • This is Light & Wonder’s 3rd transaction in the Software sector.
  • This is Light & Wonder’s 10th transaction in the United States.
  • This is Light & Wonder’s 6th transaction in Nevada.

M&A Deal Summary

Date 2022-10-06
Target House Advantage
Sector Software
Buyer(s) Light & Wonder
Sellers(s) Pine Tree Equity Partners
Deal Type Add-on Acquisition

Target

House Advantage

Las Vegas, Nevada, United States
House Advantage provides loyalty management software solutions for the casino and gaming industry. Halo architecture supports true big data processing with the speed to satisfy the demands of real-time transactional processing at a massive scale. House Advantage was founded in 2004 and is based in Las Vegas, Nevada.

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Buyer(S) 1

Buyer

Light & Wonder

Las Vegas, Nevada, United States

Category Company
Founded 1984
Sector Gaming
Employees6,800
Revenue 3.2B USD (2024)
DESCRIPTION

Light & Wonder is a developer of technology-based products and services and associated content for worldwide gaming and lottery markets. The Company's portfolio includes instant and draw-based lottery games; electronic gaming machines and game content; server-based lottery and gaming systems; sports betting technology; loyalty and rewards programs; and social, mobile and interactive content and services. Light & Wonder was established in 1984 and is based in Las Vegas, Nevada.


DEAL STATS #
Overall 21 of 25
Sector: Software M&A 3 of 3
Type: Add-on Acquisition M&A Deals 19 of 20
State: Nevada M&A 6 of 7
Country: United States M&A 10 of 12
Year: 2022 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-10 Playzido

London, United Kingdom

Playzido is a dynamic content creation platform provider and game supplier serving great content from 12+ gaming studios in the online gaming market. Playzido was formed in 2017 and is based in London.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-08 SciPlay

Las Vegas, Nevada, United States

SciPlay is a developer and publisher of digital games on mobile and web platforms. SciPlay currently offers seven core games, including social casino games Jackpot Party Casino, Gold Fish Casino, Hot Shot Casino and Quick Hit Slots, and casual games MONOPOLY Slots, Bingo Showdown, and 88 Fortunes Slots. SciPlay was founded in 1997 and is based in Las Vegas, Nevada.

Buy -

Seller(S) 1

SELLER

Pine Tree Equity Partners

Miami, Florida, United States

Category Private Equity Firm
Founded 2007
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION
Pine Tree Equity's corporate headquarters in Miami, Florida.
Pine Tree Equity's corporate headquarters in Miami, Florida.

Pine Tree Equity Partners is an investment firm focused on small-cap companies. Pine Tree generally looks to partner with management and typically invests $2 to $7 million per transaction. Areas of interest include business services, consumer services, financial services, consumer products, franchising, and niche manufacturing. Pine Tree Equity Partners was formed in 2007 and is based in Miami, Florida.


DEAL STATS #
Overall 13 of 14
Sector: Software M&A 1 of 1
Type: Add-on Acquisition M&A Deals 3 of 3
State: Nevada M&A 1 of 1
Country: United States M&A 13 of 14
Year: 2022 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-01 Premier Physician

Miami, Florida, United States

Premier Physician is a provider of primary care physician services primarily to Medicaid eligible patients across 10 counties in South and Central Florida. Premier oversees nearly 30,000 Medicaid and Medicare members through a network of over 90 general practitioners and 65 unique practices. Premier Physician was founded in 1998 and is based in Miami, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-01 Marshall & Stevens

Los Angeles, California, United States

Marshall & Stevens is a national independent valuation consulting firm that works with business owners, management, boards, investors, and trusted advisors to provide independent valuations, transaction opinions, and dispute resolution services. Marshall & Stevens was founded in 1932 and is based in Los Angeles, California.

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