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Light & Wonder Extends Long-term Partnership With Entain
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Light & Wonder (NASDAQ: SGMS) has extended its partnership with Entain (LSE: ENT) until 2030, enhancing their collaboration in the sports betting and gaming sector. The deal, originally established in 2018, allows Light & Wonder to supply over 10,000 gaming terminals to Entain's retail locations, including Coral and Ladbrokes. The extension affirms the strength of their long-standing relationship and includes access to a vast library of over 3,000 game titles. Both companies aim to leverage their combined expertise for growth and innovation in the gaming industry.
Positive
Extension of partnership with Entain until 2030 strengthens market position.
Provision of over 10,000 terminals enhances Entain’s retail betting capabilities.
Access to over 3,000 game titles boosts content offerings for Entain.
Negative
None.
LAS VEGAS--(BUSINESS WIRE)--
Scientific Games Corporation, doing business as Light & Wonder, (NASDAQ: SGMS) (“Light & Wonder,” “L&W” or the “Company”) has extended its existing agreement with global sports betting, gaming and interactive entertainment group Entain through to 2030.
The original agreement signed with Entain in 2018 was a landmark deal for the Company and the largest contract to date for Light & Wonder’s UK gaming business. This extension has built on this successful relationship and is testament to the ongoing success of the Company’s UK retail server-based gaming solution and strength of the long-term partnership with Entain.
Light & Wonder will continue to supply over 10,000 terminals to Entain’s licensed betting offices (LBO) through their Coral and Ladbrokes retail shops. The Company will also provide industry-leading game titles from its global game portfolio as well as titles from its Manchester Studio, which has recently launched successful key titles including Lord of The Rings and 777 High & Mighty™.
Additionally, the Company’s leading content aggregation platform provides Entain access to an extensive library of over 3,000 titles available from the world’s leading studios, complemented by cutting-edge player features including responsible gaming tools.
“Our stores provide an engaging and differentiated experience for our customers. Light & Wonder enhances that with the industry’s best gaming machines backed up by a great range of leading games, service infrastructure and support,” said Andy Hicks, Retail MD UK & Ireland at Entain.
Entain will also benefit from Light & Wonder’s industry renowned operational and field service support, cutting edge content and dynamic platform functionality including new features such as intelligent menu enhancements.
“We are delighted that Entain has chosen to continue our partnership through to 2030,” said Simon Johnson, Senior Vice President & Managing Director, EMEA at Light & Wonder. “Our teams have more than 20 years of history together and we’re excited about supporting Entain through their next phase of growth and innovation. The future is exciting for both Entain and L&W.”
Entain is one of the world’s largest sports betting and gaming groups with a comprehensive portfolio of established brands, including Ladbrokes, Coral, bwin, PartyCasino, Gala, Eurobet, Neds, and Sportingbet.
Scientific Games Corporation, doing business as Light & Wonder, is the global leader in cross-platform games and entertainment. The Company brings together over 5,000 employees from six continents to connect content between land-based and digital channels with unmatched technology and distribution. Guided by a culture that values daring teamwork and creativity, the Company builds new worlds of play, developing game experiences loved by players around the globe. Its OpenGaming™ platform powers the largest digital-gaming network in the industry. The Company is committed to the highest standards of integrity, from promoting player responsibility to implementing sustainable practices. To learn more, visit lnw.com.
About Entain plc
Entain plc (LSE: ENT) is a FTSE100 company and is one of the world’s largest sports-betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports Brands include bwin, Bet.pt, Coral, Crystalbet, Eurobet, Ladbrokes, Neds, Sportingbet and Sports Interaction; Gaming Brands include CasinoClub, Foxy Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet, Partypoker and PartyCasino. The Group owns proprietary technology across all its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis.
The Group has a 50/50 joint venture, BetMGM, a leader in sports betting and iGaming in the US. Entain provides the technology and capabilities which power BetMGM as well as exclusive games and products, specially developed at its in-house gaming studios. The Group is tax resident in the UK with operations in a total of 31 regulated or regulating territories. Entain is a leader in ESG, a member of FTSE4Good, the DJSI and is AA rated by MSCI. The Group has set a science-based target, committing to be carbon net zero by 2035 and through the Entain Foundation supports a variety of initiatives, focusing on safer gambling, grassroots sport, diversity in technology and community projects. For more information see the Group’s website: www.entaingroup.com
Forward-Looking Statements
In this press release, Scientific Games makes "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "will," "may," and "should." These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of timing, future results or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks, uncertainties and other factors, including those factors described in our filings with the Securities and Exchange Commission (the “SEC”), including Scientific Games’ current reports on Form 8-K, quarterly reports on Form 10-Q and its upcoming annual report on Form 10-K that will be filed with the SEC on March 1, 2022 (including under the headings "Forward-Looking Statements" and "Risk Factors"). Forward-looking statements speak only as of the date they are made and, except for Scientific Games' ongoing obligations under the U.S. federal securities laws, Scientific Games undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.
What is the significance of the partnership extension between Light & Wonder and Entain?
The extension solidifies Light & Wonder's role in supplying over 10,000 terminals to Entain's betting shops, enhancing both companies' market capabilities.
How long has Light & Wonder's agreement with Entain been extended?
The agreement has been extended through to 2030.
What types of terminals will Light & Wonder supply to Entain?
Light & Wonder will provide over 10,000 gaming terminals for Entain’s Coral and Ladbrokes retail shops.
What game titles will Entain have access to through Light & Wonder?
Entain will gain access to industry-leading game titles from Light & Wonder’s global portfolio, including new launches from its Manchester Studio.
What advantages does Entain gain from the partnership with Light & Wonder?
Entain benefits from advanced gaming technology, operational support, and a diverse library of over 3,000 games.
