Scientific Games to rebrand as Light & Wonder

Scientific Games is set to undergo a major rebrand which will see the supplier giant become known as Light & Wonder. Following a series of changes at the Las Vegas-headquartered supplier, including the divesting of its lottery and sports betting businesses, the firm has elected to transition to a new brand identity. With the vision of being a content-led company, Light & Wonder said it had made a “series of bold strategic moves to transform itself” in recent months and the new identity was a result of these moves. The company said: “The new identity, Light & Wonder, is born out of the company’s strategic vision and input from key stakeholders. It also reflects the company’s focus on creating great content, hardware and systems that connect iconic titles across any place or channel.” As part of the transformation, the firm will launch a new company website at lnw.com, which will offer a look at games, platforms, systems, hardware and PAM.

Barry Cottle, Light & Wonder CEO, 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,” he added. Light & Wonder will operate under an assumed name until the legal name change completes in spring 2022. Following the name change, the firm will trade under a new stock ticker it has reserved, LNW. The company’s share price tumbled 8.3% on the Nasdaq yesterday to $57.50. Elsewhere, Light & Wonder reported a 21% year-on-year (YoY) Q4 revenue increase from $480m to $580m. Of this $580m, gaming revenue increased to $372m, up 30% from Q4 2020, while the group’s SciPlay brand $154m in revenue, up 5% YoY. EBITDA leapt from $129m in Q4 2020 to reach $216m in Q4 2021, with the EBITDA margin rising from 27% to 37%.