SciPlay's stock rallies as Light & Wonder airs plan to buy remaining public shares of gaming software company

SciPlay Corp.'s stock is rallying 25% in premarket trades after Light & Wonder Inc. said it wants to buy the 17% of common stock it doesn't already own in the maker of Jackpot Party Casino, Gold Fish Casino, Hot Shot Casino games. Light & Wonder is offering to pay $20 a share for SciPlay's stock, in a deal valued at $422 million. Las Vegas-based Light & Wonder, a digital gaming company, said the deal will "unify L&W's businesses, enabling seamless collaboration with SciPlay that will add further momentum to the company's already robust cross-platform strategy." Light & Wonder stock is up 5.5% so far in 2023, compared to a 19.4% increase by the Nasdaq