The reels keep spinning and the jackpots keep flowing, thanks to this company. WMS Industries is a leading manufacturer of casino gaming machines and related gaming systems. Its product portfolio includes video poker terminals and video slot machines, as well as traditional mechanical slot machines. It also makes progressive gaming systems offering bonus jackpots and systems that can network multiple games together. Other products include video lottery terminals and casino management software systems. WMS Industries' products are installed in all major gaming jurisdictions in the US, as well as in more than 140 international markets. The company has operations in about ten countries outside the US.
Outside the US, the company has gaming operations equipment located in Canada, Europe, and South Africa; sales and distribution offices in Argentina, Australia, Canada, China, Mexico, South Africa, Spain, and the UK; and game development studios and operations, and administrative and product development employees in Australia, India, Sweden, and the UK.
In order to continue its growth trajectory, the company is focusing on its portfolio of game content that attracts casino-goers and generates revenues for casinos. Its product development efforts emphasize networking technologies that can connect multiple games. These systems are used for progressive jackpots and to allow casinos to monitor gamblers for their popular player rewards programs.
In 2011 WMS launched a networked gaming system called WAGE-NET that combines game monitoring, player loyalty, and other features in one integrated package. The company also plans to introduce its My Poker game in 2013; the launch will be its first new video poker games in several years. Meanwhile the company's Bluebird-branded gaming machines, including its Bluebird xD model, incorporates a high-definition display, as well as improvements in design elements such as lighting, audio, interactivity, and ergonomics.
In addition to its proprietary games, WMS Industries licenses well-known brands for use in its systems. Its Monopoly-branded machines, produced through an exclusive agreement with toy maker Hasbro, have proven to be among the company's most popular. Other licensed brands include The Price is Right, The Lord of the Rings, and The Wizard of Oz. In 2011 it launched a YAHTZEE game.
Sales and Marketing
WMS is authorized to sell or lease its gaming machines to casinos in 214 tribal jurisdictions, 31 state jurisdictions, and 143 international gaming jurisdictions worldwide. In most gaming jurisdictions, it sells its gaming machines directly, rather than through distributors. This strategy is designed to help it provide superior customer service and enhance profitability. The company also distributes WMS games to online, social, casual, and mobile gaming platforms.
Mergers and Acquisitions
In 2012, the company acquired Jadestone, a Sweden-based company that develops, publishes, and distributes online gaming content and entertainment for online gaming companies. The purchase will help augment WMS' content distribution capabilities for customers looking to expand their brand with online interactive offerings.
Also that year WMS acquired Phantom, an Iowa-based company that publishes and develops interactive casino and slot-based games for social, casual, and mobile gaming entertainment. The acquisition further expands the company's capabilities in online content development and distribution across the rapidly growing social, casual, and mobile channels.
The company's revenue decreased by 12% and net income decreased 21% in 2012 compared to 2011. Its cash flow increased by $48 million in 2012 versus 2011. The drop in revenue was due to fewer new units sold in the US and Canada, as well as a decrease in international new units sales revenue. International revenues were negatively affected by low demand in Europe, decreased industry demand in Mexico because of government enforcement actions against certain casinos, and lower demand in Australia as operators there await implementation of new national gaming standards. The decrease in net income was due to the drop in revenues, as well as a cash settlement of litigation in fiscal 2011. The marginal increase in cash flow was due to cash provided by financial activities. – less
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