Scientific Games to rebrand as “Light & Wonder”
The new brand, the business said, will reflect the group’s cross-platform approach to delivering games to land-based casinos, online and mobile and in both real-money and free-to-play social gaming markets.
Recent months have seen the group move away from certain sectors in order to focus more on its gaming business.
In October, the group entered a definitive agreement to sell its lottery business to private equity company Brookfield Business Partners for $6.05bn, having first announced plans to divest its lottery business in June 2021.
The lottery business includes solutions such as instant and terminal-generated lottery games, sports betting, lottery systems and retail technology and online lottery market.
Also in 2021, Scientific Games agreed to divest its sports betting division, OpenBet, to global talent and media agency holding company Endeavor Group.
The transformation into a games-focused business will also include the launch of a new website, LnW.com, featuring an overview of the group’s games, platforms, systems, player account management and hardware.
Light & Wonder will operate under an assumed name until a legal name change is complete in spring 2022. At that time, the group will start trading under a new “LNW” stock ticker.
“We are thrilled to introduce the world to Light & Wonder, a company that will build great games and franchises that offer players a seamless experience across platforms,” Light & Wonder chief executive Barry Cottle (pictured) said.
“Our powerful new strategy required a powerful new identity to distinguish us and our unique offerings and capabilities. Our new name and identity are born from our winning strategy to be the leading cross-platform game company and will inspire our people to make great products for our players.
“We already have a world-class team powered by the brightest game creators in the business and, in transforming into a growth company who invests in our people and products, we will serve our players even better wherever and whenever they play.”