Light & Wonder Acquires Tabletop Studio Boomerang Games in $210M Content Play

Light & Wonder confirmed on Saturday that it has reached a definitive agreement to acquire Boomerang Games, a Malta-headquartered studio known for its roulette variants and crash-style titles, in a cash-and-stock transaction valued at approximately $210 million. The acquisition is expected to close in the first quarter of 2027, pending regulatory approvals in Malta, the United Kingdom and New Jersey, where Boomerang holds active supplier licences.

Founded in 2019 by former NetEnt and Red Tiger executives, Boomerang has built a catalogue of more than 80 titles distributed across tier-one operators in Europe and Latin America. The studio reported revenues of €34 million in 2025, with its 'Thunder Roulette' and 'Mystic Crash' series driving strong growth across the Brazilian and Colombian markets. Light & Wonder said the acquisition would allow it to accelerate roadmap delivery in table games, a vertical that has lagged behind its slot-focused OpenGaming output.

Matt Wilson, CEO of Light & Wonder, told investors that the Boomerang team would operate as a standalone studio within the group's iGaming division, retaining its Sliema headquarters and current leadership. 'Boomerang has a sharp instinct for formats that resonate in emerging regulated markets, particularly in LatAm,' Wilson said. 'This acquisition complements our existing content engine rather than consolidating it.' The deal follows Light & Wonder's 2024 purchase of SciPlay minority stakes and its earlier tuck-in of a smaller Barcelona studio.

Analysts at Regulus Partners described the price tag as 'full but defensible,' pointing to Boomerang's exposure to the newly regulated Peruvian market and its pipeline of Dutch-certified content ahead of KSA technical standards updates expected in mid-2027. Shares in Light & Wonder closed 2.4% higher on the Nasdaq following reports of the transaction earlier in the week.