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Light & Wonder, Inc. (symbol: LNW) is a leading name in the global lottery and regulated gaming industry. Since its inception, the company has been at the forefront of innovation, beginning with the breakthrough technology that launched the world’s first secure instant lottery game in 1974. Over the past four decades, Light & Wonder has been instrumental in advancing the games, technology, programs, marketing research, and security that drive success for more than 300 clients across six continents.
With a workforce of over 3,500 employees, Light & Wonder operates from advanced-technology manufacturing and operational facilities spanning North America, South America, Europe, Asia, and Australia. This global presence allows the company to meet diverse customer requirements efficiently and effectively.
Light & Wonder stands out as the industry's only full-service provider, offering a wide array of customizable products, technology, and services to meet the unique needs of various lottery and gaming jurisdictions. The company is recognized for its high-quality electronic gaming machines, which are sold to pubs, clubs, and casinos worldwide. It holds licenses in most global jurisdictions that permit gambling, securing its position as one of the top three players in the market alongside International Game Technology and Aristocrat Leisure.
Additionally, Light & Wonder has a significant presence in the mobile gaming sector through its subsidiary, SciPlay, which accounts for about one-fourth of its revenue. SciPlay focuses on developing and distributing casual mobile games, particularly in the social casino niche. The company's nascent iGaming business further complements its portfolio by offering digital content and capabilities to real-money gaming providers.
From its pioneering roots to its current projects and partnerships, Light & Wonder continues to be a driving force in the gaming industry, providing cutting-edge solutions and maintaining a robust financial condition. Stay updated with the latest news and developments from Light & Wonder to keep abreast of their performance and industry advancements.
Light & Wonder (NASDAQ: LNW) will release its Q3 financial results for the period ending
To access the live webcast, visit Light & Wonder's Investor page. A replay will be available after the event. For any inquiries, contact Investor Relations at +1 (702) 532-7614.
Light & Wonder (LNW) announces innovations at the Global Gaming Expo (G2E), including the COSMIC™ slot cabinet and a new live casino experience with Light & Wonder LIVE DEALER. Recent acquisitions of loyalty software from House Advantage bolster L&Ws cross-platform vision. Offering immersive gaming experiences, the company aims to capture evolving player behaviors across digital and land-based sectors. LNW's CEO emphasizes commitment to high-tech solutions and enhancing player engagement with customized options, showcasing the importance of real-time insights for casino operators.
Light & Wonder, Inc. (NASDAQ: LNW) has appointed Matt Wilson as the new President and Chief Executive Officer, effective immediately. Wilson, who has been the interim CEO since August 2022, brings nearly 20 years of gaming industry experience. The Board believes his leadership will unlock the company's potential. Additionally, Siobhan Lane has been named CEO of the Gaming business, succeeding Wilson. Both executives emphasize a commitment to innovation and growth, positioning the company for substantial shareholder value enhancement.
Light & Wonder (NASDAQ: LNW) has acquired the assets of House Advantage, a top provider of loyalty and marketing software, for a cash transaction. This move aims to enhance L&W's systems business with HALo, House Advantage's omnichannel player loyalty platform. The acquisition adds stable, high-margin recurring revenue streams and positions L&W for growth in the converging digital and land-based gaming markets. Jon Wolfe, founder of House Advantage, will lead the new division.
Light & Wonder, Inc. (NASDAQ: LNW) completed the sale of its Sports Betting Business, OpenBet, to Endeavor Group Holdings, Inc. (NYSE: EDR) for approximately
Endeavor Group Holdings (NYSE: EDR) has completed its acquisition of OpenBet from Light & Wonder (NASDAQ: LNW) for approximately $800 million, comprising $750 million in cash and shares. This strategic move aims to enhance Endeavor’s presence in the sports betting industry, merging OpenBet's technology and expertise with Endeavor's IMG ARENA. The merger will create a new segment, Sports Data & Technology, starting January 2023, and is expected to generate significant value for customers and fans.
Light & Wonder, Inc. (NASDAQ: LNW) will unveil its latest innovations at the Global Gaming Expo (G2E) from Oct. 10-13 in Las Vegas. The company aims to showcase its cross-platform games, gaming systems, and unique content to enhance player experiences. CEO Matt Wilson highlighted the company's commitment to leading the gaming market with top-charting games and a strong iGaming portfolio. Attendees can expect to see new electronic gaming machines, table games, and exclusive content, as well as participate in events with industry leaders.
Light & Wonder, Inc. (NASDAQ: LNW) has appointed Matt Wilson as interim CEO following the departure of Barry Cottle. Wilson, who retains his role as Executive VP and Group Chief Executive of Gaming, will lead the company's transition while a search for a permanent CEO is underway. Jamie Odell, Executive Chair, expressed confidence in Wilson's leadership abilities, citing a successful track record in repositioning the Gaming business for growth. The Company reaffirmed its financial targets for 2022-2025, signaling a commitment to its strategic plan amid this leadership change.
Light & Wonder, Inc. (LNW) reported a 5% increase in consolidated revenue to $610 million for Q2 2022, despite a net loss of $150 million. The company significantly reduced its debt to $4 billion, lowering its net debt leverage ratio to 3.6x. Key strategic moves included a $5.7 billion sale of its Lottery business, with expectations to finalize the Sports Betting sale soon. Share repurchases reached $203 million, constituting 27% of the total authorization. CEO Barry Cottle highlighted operational advancements and a strong roadmap for capturing a $70 billion market.
Light & Wonder, Inc. (NASDAQ: LNW) announced an independent report predicting potential iGaming state tax revenues of
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