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Yahoo
19-05-2025
- Business
- Yahoo
Light & Wonder Completes Acquisition of Grover Gaming's Charitable Gaming Assets
LAS VEGAS, May 19, 2025--(BUSINESS WIRE)--Light & Wonder, Inc. (NASDAQ and ASX: LNW) (together with its subsidiaries "Light & Wonder," "L&W" or the "Company") today announced it has completed its previously disclosed acquisition of Grover Gaming's charitable gaming assets for total consideration of $850 million cash, subject to customary purchase price adjustments, and a four-year revenue-based earn-out of up to $200 million cash. "Grover Gaming has established itself as a leader in the fast-growing charitable gaming space," said Matt Wilson, President and CEO of Light & Wonder. "Bringing their assets and expertise into our ecosystem aligns perfectly with our strategy to expand into complementary regulated markets. This addition enhances our position as the leading global cross-platform games company and opens new opportunities to deliver our world-class content to even more players. We're excited to welcome the Grover team to Light & Wonder." "Joining Light & Wonder marks an exciting new chapter for the charitable gaming business," said Brian Brown, CEO, Grover Gaming (Light & Wonder's new division). "We're proud of what we've built in the charitable gaming space, and we see tremendous opportunity to grow even further as part of Light & Wonder. Our teams share a passion for innovation and a commitment to serving customers and communities, and we're excited to take that to the next level together." For more information, visit All ™ notices signify marks registered by Light & Wonder, Inc., or one of its subsidiaries. About Light & Wonder, Inc. Light & Wonder, Inc. is the leading cross-platform global games company. Through our three unique, yet highly complementary businesses, we deliver unforgettable experiences by combining the exceptional talents of our 6,500+ member team, with a deep understanding of our customers and players. We create immersive content that forges lasting connections with players, wherever they choose to engage. At Light & Wonder, it's all about the games. The Company is committed to the highest standards of integrity, from promoting player responsibility to implementing sustainable practices. To learn more visit You can access our filings with the Securities Exchange Commission ("SEC") through the SEC website at with the Australian Securities Exchange ("ASX") through the ASX website at or through our website, and we strongly encourage you to do so. We routinely post information that may be important to investors on our website at and we use our website as a means of disclosing material information to the public in a broad, non-exclusionary manner for purposes of the SEC's Regulation Fair Disclosure. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document, and shall not be deemed "filed" under the Securities Exchange Act of 1934, as amended. Forward-Looking Statements In this press release, Light & Wonder makes "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements herein that describe the transaction, including statements of management's expectations, beliefs and goals regarding the transaction, and can be identified by words such as "will," "may," and "should." These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of timing, future results, or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks, uncertainties and other factors, including (i) that Light & Wonder may be unable to achieve expected financial, operational and strategic benefits (including synergies) of the acquisition of Grover Gaming's charitable gaming assets ("Grover Charitable Gaming") and may not be able to successfully integrate Grover Charitable Gaming into Light & Wonder's operations, (ii) potential litigation related to the transaction or the acquired assets, (iii) disruption of Grover Charitable Gaming's or Light & Wonder's current plans and operations as a result of the transaction, (iv) the ability of Grover Charitable Gaming or Light & Wonder to retain and hire key personnel, (v) competitive responses to the transaction, (vi) unexpected costs, charges or expenses resulting from the transaction, (vii) the ability to maintain relationships with Grover Charitable Gaming's or Light & Wonder's respective employees, customers, other business partners and governmental authorities, and those factors described in our filings with the Securities and Exchange Commission (the "SEC"), including Light & Wonder's current reports on Form 8-K, quarterly reports on Form 10-Q and its annual report on Form 10-K that was filed with the SEC on February 25, 2025 (including under the headings "Forward-Looking Statements" and "Risk Factors"). Forward-looking statements speak only as of the date they are made and, except for Light & Wonder's ongoing obligations under the U.S. federal securities laws, Light & Wonder undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise. View source version on Contacts COMPANY CONTACTS Media RelationsAndy Fouché +1 206-697-3678 Vice President, Corporate Affairs and Communicationsmedia@ Investor Relations Nick Zangari +1 702-301-4378 Senior Vice President, Investor Relations and Treasuryir@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
19-05-2025
- Business
- Business Wire
Light & Wonder Completes Acquisition of Grover Gaming's
LAS VEGAS--(BUSINESS WIRE)-- Light & Wonder, Inc. (NASDAQ and ASX: LNW) (together with its subsidiaries 'Light & Wonder,' 'L&W' or the 'Company') today announced it has completed its previously disclosed acquisition of Grover Gaming's charitable gaming assets for total consideration of $850 million cash, subject to customary purchase price adjustments, and a four-year revenue-based earn-out of up to $200 million cash. 'Grover Gaming has established itself as a leader in the fast-growing charitable gaming space,' said Matt Wilson, President and CEO of Light & Wonder. 'Bringing their assets and expertise into our ecosystem aligns perfectly with our strategy to expand into complementary regulated markets. This addition enhances our position as the leading global cross-platform games company and opens new opportunities to deliver our world-class content to even more players. We're excited to welcome the Grover team to Light & Wonder.' 'Joining Light & Wonder marks an exciting new chapter for the charitable gaming business,' said Brian Brown, CEO, Grover Gaming (Light & Wonder's new division). 'We're proud of what we've built in the charitable gaming space, and we see tremendous opportunity to grow even further as part of Light & Wonder. Our teams share a passion for innovation and a commitment to serving customers and communities, and we're excited to take that to the next level together.' For more information, visit All ™ notices signify marks registered by Light & Wonder, Inc., or one of its subsidiaries. About Light & Wonder, Inc. Light & Wonder, Inc. is the leading cross-platform global games company. Through our three unique, yet highly complementary businesses, we deliver unforgettable experiences by combining the exceptional talents of our 6,500+ member team, with a deep understanding of our customers and players. We create immersive content that forges lasting connections with players, wherever they choose to engage. At Light & Wonder, it's all about the games. The Company is committed to the highest standards of integrity, from promoting player responsibility to implementing sustainable practices. To learn more visit You can access our filings with the Securities Exchange Commission ('SEC') through the SEC website at with the Australian Securities Exchange ('ASX') through the ASX website at or through our website, and we strongly encourage you to do so. We routinely post information that may be important to investors on our website at and we use our website as a means of disclosing material information to the public in a broad, non-exclusionary manner for purposes of the SEC's Regulation Fair Disclosure. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document, and shall not be deemed 'filed' under the Securities Exchange Act of 1934, as amended. Forward-Looking Statements In this press release, Light & Wonder makes "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements herein that describe the transaction, including statements of management's expectations, beliefs and goals regarding the transaction, and can be identified by words such as "will," "may," and "should." These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of timing, future results, or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks, uncertainties and other factors, including (i) that Light & Wonder may be unable to achieve expected financial, operational and strategic benefits (including synergies) of the acquisition of Grover Gaming's charitable gaming assets ('Grover Charitable Gaming') and may not be able to successfully integrate Grover Charitable Gaming into Light & Wonder's operations, (ii) potential litigation related to the transaction or the acquired assets, (iii) disruption of Grover Charitable Gaming's or Light & Wonder's current plans and operations as a result of the transaction, (iv) the ability of Grover Charitable Gaming or Light & Wonder to retain and hire key personnel, (v) competitive responses to the transaction, (vi) unexpected costs, charges or expenses resulting from the transaction, (vii) the ability to maintain relationships with Grover Charitable Gaming's or Light & Wonder's respective employees, customers, other business partners and governmental authorities, and those factors described in our filings with the Securities and Exchange Commission (the 'SEC'), including Light & Wonder's current reports on Form 8-K, quarterly reports on Form 10-Q and its annual report on Form 10-K that was filed with the SEC on February 25, 2025 (including under the headings "Forward-Looking Statements" and "Risk Factors"). Forward-looking statements speak only as of the date they are made and, except for Light & Wonder's ongoing obligations under the U.S. federal securities laws, Light & Wonder undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.
WIRED
14-05-2025
- Business
- WIRED
Microsoft Cuts Off Access to Bing Search Data as It Shifts Focus to Chatbots
May 14, 2025 2:15 PM Microsoft is limiting access to tools that boosted its rivals, but larger customers like DuckDuckGo say they won't be affected. Photograph:Microsoft quietly announced earlier this week that it plans to shut down a longstanding tool supplying search engine startups and other software developers with a raw feed of Bing search results. The Bing Search APIs, or application programming interfaces, were once vital to many niche Google alternatives, but fell out of favor more recently as Microsoft hiked fees for the service and restricted its use. The shutoff, which is scheduled to begin on August 11, still came as a surprise to several developers who spoke with WIRED. Customers learned of it on Monday via an email from Microsoft and a post on its website. They were directed to consider using 'Grounding with Bing Search as part of Azure AI Agents,' a Microsoft service that allows chatbots like ChatGPT to augment AI-generated responses with 'real-time public web data.' Some developers view the AI-centric alternative as an insufficient replacement. Microsoft spokesperson Donny Turnbaugh says that the company is decommissioning the Bing Search APIs as it pivots to supporting the new offering, which 'better meets market demand for having AI solutions.' He added the company has a 'support plan in place' and affected customers can reach out with questions, without providing more details. Brian Brown, chief business officer of privacy-focused search engine Brave, which stopped using the Bing Search APIs in 2023 after developing its own technology, says Microsoft 'is sending a clear signal' to other search companies that it is tightening loose ends amid growing competition. The largest customers of the Bing APIs will retain their access after August 11, while smaller developers that were less profitable for Microsoft to support are being cut off sooner, according to a person familiar with the situation who was granted anonymity to protect industry relationships. But the shift may still raise concerns among big spenders about the long-term prospect of relying on Microsoft and prompt them to accelerate their internal efforts to develop alternatives. One of the bigger customers that is unaffected for now is the search engine DuckDuckGo, company spokesperson Kamyl Bazbaz confirmed to WIRED. 'They're retiring the self-serve version,' Bazbaz says. Brown says Brave's understanding is that companies that have inked private and long-term deals with Microsoft will maintain access to the APIs. Microsoft declined to comment about whether slashing costs was a motivation for the shutdown and if some customers would be exempted. On Tuesday, the company laid off about 6,000 employees, or about 3 percent of its workforce, in a move it described as necessary to reduce redundant management structures. The loss of the Bing APIs adds another layer of complexity to the already uncertain future of search engines, which have long been the most visible gateway to the web. The emergence of ChatGPT and other AI chatbots that can help users find information more efficiently has fueled fresh competition in the market for the first time in years. Antitrust investigations launched by US regulators are also starting to result in measures that could curb Google's dominance of search and put more public attention on competitors. But despite the buzz, Google has barely lost any market share so far. Through the Bing APIs, Microsoft helped other search engines save on the cost and time of crawling billions of webpages and developing a searchable index of all available content. The tools allowed them to automatically submit queries and get back results that they could present to their own users for what had been an affordable fee. Over the years, the APIs fueled both general search engines such as DuckDuckGo, Brave, and as well as more specialized tools used by companies and internet researchers to search specific corners of the web. Results often weren't as high-quality as standard Google search results, but Google's comparable API has a number of limitations that has made it unattractive to would-be rivals. After ChatGPT debuted in 2022, Microsoft increased prices for the Bing APIs by as much as 10 times, citing upgrades it had made to the quality of results. That prompted many users to begin investing in their own indexes of the web, an exercise that had become less costly over time thanks to new technologies. The person familiar with the matter estimated that the Bing APIs still continued to have thousands of customers. Developers say the new AI-powered system Microsoft is pushing provides summaries rather than raw search results, and the tool is optimized to work in a narrower set of circumstances. The software has 'tighter integration and less flexibility,' says one developer, speaking on the condition of anonymity because they were not authorized by their employer to speak to the media. Privacy researcher Tim Libert says one use he found for the Bing APIs was querying a long list of hospital names to get back their website URLs. Manual searching is more cumbersome, and the 'AI monstrosity' Microsoft is pivoting to is more complicated than needed, he says. Mojeek, Brave, and Exa are among the companies that still offer tools similar to the ones Microsoft is retiring. CEO Richard Socher tells WIRED its API has become a significant revenue driver for the startup. Colin Hayhurst, CEO of Mojeek, says 'anything that shakes up the search market is good' for his company and broader industry. But some developers believe no option is as robust or feature-rich as the Bing APIs. They point out that hundreds of search scientists work on Bing, while upstarts have comparatively fewer resources. As Microsoft moves to cut off access, Google may be forced to open up. The tech giant recently lost an antitrust case lodged by the US Department of Justice, and a federal judge is expected to order corrective actions later this year. Requiring Google to share more of its search data with competitors is one possibility on the table. Microsoft, which testified that the quality of Bing results has been hampered by limited usage and data, may be one of the first companies to line up for access.
Yahoo
10-04-2025
- Business
- Yahoo
Raleigh County Board of Education votes on Reduction-In-Force
BECKLEY, WV (WVNS) — Raleigh County Board of Education met at Woodrow Wilson High School Tuesday night, anticipating a large crowd. An estimated 80 parents, teachers, counselors and students attended, as speakers asked the board to reconsider a Reduction-in-Force (RIF) that would affect 79 counselors and elementary school teachers. The RIF would cut positions, contracted hours or force transfers between schools. Two Woodrow Wilson High School students spoke about the importance of school counselors in their own lives, and two of the school counselors spoke of the difference they make in students' lives and academic success. 'We're looking at this, and everybody's like, 'We don't have the money, we don't have the money, we don't have the money,'' Woodrow Wilson High School counselor Erica Hampton said. 'But somehow we have the money for things, our kids, our students don't necessarily need with an education, but they need a support system.' Local city wins USA TODAY's 'Best Small Town Food Scene' Another counselor spoke of maintaining diversity, equity and inclusion standards which validate all students. Brian Brown, a Beckley businessman, asked the board to have a 'change of heart.' 'Cuts will need to be made. But they should be made across the board,' said Brown. 'We know that we have a top-heavy administration, yet we seem to be cutting from the bottom and not the top. We are taking from the children when we should be taking from leadership.' Board members and the superintendent went into executive session and the board voted to continue the RIF of most school counselors. The board voted to spare the job of a Stratton Elementary School counselor and to stop the transfer of three other elementary school counselors. In a split vote, the board approved the terminations and transfers of a large number of elementary school teachers, predominantly music and art teachers. How one local sawmill is already feeling the effects of new tariffs Following the vote, the two students who had spoken on behalf of counselors huddled protectively near Hampton. 'These counselors mean a lot to me. My sister is also adopted,' said Virginia Kestler, one of the students who spoke. 'She has IEP's, so this really does affect my family, as well. It just means a lot to me, and it means a lot to my friends, my family and the community, and I'm worried about my future.' Board members have said they are forced to make personnel cuts due to the state aid formula, set by lawmakers. They said schools have lost enrollment and funding because of population loss and also because of the tax-funded Hope Scholarship, which takes money from public schools and places it into private schools and homeschool curricula providers, some of which are out of the state. Catelyn Cook, the second WWHS high school student who spoke, said cuts could have been made in a way to spare counseling positions. 'They have chosen to cut so many of the counselors from the schools, and it's really going to affect the students, whereas they could've cut some from the board,' she said. 'There's tons of positions up there that don't really need to be up there. They aren't necessary.' What are the top 10 Police dog breeds? Dr. Serena Starcher, superintendent of Raleigh County Schools, said principals at the various schools had submitted the positions they believed could be cut. Starcher said there are vacancies inside the school system, which is overstaffed in some fields, and those who have been terminated may apply to fill, even though it is not in their field of expertise. Some of those attending the meeting said they had concerns for the benefits and seniority of those educators forced to find another position. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
04-04-2025
- Business
- Yahoo
Future of Missouri's low-income utility assistance program uncertain after federal cuts
(Brian Brown iStock / Getty Images Plus). Included in the massive federal workforce cuts at the Department of Health and Human Services this week was the elimination of an office that runs a program over 100,000 Missouri families rely on to help pay their heating and cooling bills. The layoffs within the Low Income Home Energy Assistance Program, which provides Congressionally-approved funds that are administered by Missouri's social services department, leaves the program's future in limbo. LIHEAP is designed to help those with few resources cover their home energy bills in the summer and winter. Since October, the program has helped offset utility costs for 100,839 households, according to a spokesperson for the Department of Social Services. The state received over $136.4 million for the program in fiscal year 2023, and the average benefit for the heating and cooling program was around $675 per household. The Department of Social Services has 'not received any official updates regarding potential program reductions,' said spokesperson Baylee Watts, and the federal government hasn't announced program cuts. But advocates fear that without the federal staff, the future allocation of funding is uncertain. 'Any cuts to LIHEAP will be detrimental to Missourians who are already struggling to keep up with increasing electric and gas bills,' said Sandra Padgett, executive director of Consumers Council of Missouri, in a press release. States are still waiting for around 10% of their annual funding allocation for the federal fiscal year that began in October. That amount usually arrives in June. Watts said Missouri hasn't been notified yet of what that amount is, but it was $8.1 million last year. Those funds aren't expected to be needed until the fiscal year that starts in October, though, Watts said, based on the way Missouri has allocated funding. 'At this moment, DSS does not anticipate any impact on services,' Watts said. At the same time, a bill adding a charge onto utility bills passed the state legislature and is awaiting the governor's signature. SUPPORT: YOU MAKE OUR WORK POSSIBLE
