Scientific Games is a step closer to its new future as a dedicated lottery supplier following the rebranding of the former Gaming and iGaming businesses to Light & Wonder.
The rebranding to Light & Wonder is one of the final steps in the break up of the former betting, gaming and lottery giant, with the gaming business continuing as a standalone company under the Light and Wonder corporate name; the OpenBet sports betting business sold to Endeavor Holdings’ IMG Arena; and the lottery business continuing as a standalone company under the Scientific Games brand following its acquisition by Brookfield Business Partners, which is expected to close this month.
“These strategic business moves are several years in the making and would not be possible without a true team effort,” said Scientific Games chief executive Patrick McHugh. “We congratulate our Gaming and iGaming groups’ rebranding on March 1st. This brings our Lottery organization one step closer to moving forward as a stand-alone, privately held company, focused 100% on our global lottery customers.”
Light & Wonder will continue to be led by Barry Cottle, formerly chief executive of the larger group, with the current Nasdaq stock market listing under the Scientific Games (SGMS) name switching to Light & Wonder (LNW) following the completion of Brookfield Business Partners’ acquisition of the lottery business, Scientific Games.
McHugh added that it is business as usual for the Scientific Games Lottery organization, with its 130 customers in 50 countries continuing to benefit from the same customer-focused commitment to excellence.