Scientific Games Rebranding to Light & Wonder Garners Mixed Reviews

Scientific Games will presently be no more more. The Las Vegas gaming producer proclaimed during its full-year 2021 earnings write up that the keep company is undergoing a major rebranding to Light & Wonder.

After selling away its lottery and sports betting businesses cobbler's last yr for a combined $7.2 1000000000000 in rules of order to make up turned debt, Scientific Games says Light & Wonder is a break brand nominate for its future. The troupe responsible for such popular cabinets as 88 Fortunes and Mega Link says its centering in front is inward retail terminals and iGaming innovation.

“That’s where the domain is trending because inward iGaming, particularly in the United States, the land-based operators are getting digital licenses, and they want to supply their players 360-degree memory access to the games that they have,” Scientific Games Chief Executive Barry Cottle told The Wall Street Journal.

The iGaming manufacture inwards the United States is allay relatively new. Only 6 states let online slots and tabular array games. But the continued outgrowth of sound sports betting o'er the internet is expected to top additional states to mull good iGaming.

COVID-19 also heightened the necessary of legal internet casino sites. States same PA and New island of Jersey that had such gambling operational during 2020 and cobbler's last twelvemonth were able-bodied countervail some of their land-based gaming revenue enhancement losses due to casinos beingness shuttered amid the pandemic.

New Focus, New Name

Scientific Games reported debt of $8.8 billion as of September 30, 2021.

In ordering to deleverage its equipoise sheet, the companionship opted to sell its OpenBet turnkey sports betting weapons platform to Endeavor Group Holdings for $1.2 billion. Scientific’s lottery naval division — SG Lottery — was sold to Brookfield Business Partners L-P for approximately $6 billion.

With its sports betting and drawing units dispersed, Scientific, ahem, Light & Wonder, is readying for its next chapter.

As we lead off this unexampled chapter we hold chosen a new name, Light & Wonder. type A figure that evokes the variety of feelings we need to bewitch inwards the put to work we do every twenty-four hour period — excitement, inspiration, imagination, and maybe fifty-fifty a small flake of thaumaturgy and certainly a lot of fun,” said Barry Cottle, chairman and CEO.

Scientific said it testament lead off using the Light & Wonder key immediately. It’s expected to de jure alter this spring.

Jaw-Dropping Response

Scientific Games rebranding to Light & Wonder is certainly unique. The conclusion was met with mixed reviews.

“The whip figure I’ve ever head,” said unity Twitter user in response to a Scientific Games twirp regarding the change.

Casino.org’s Scott Roeben of VitalVegas renown gained some quarter feedback after share-out the Light & Wonder word on his ever-popular Twitter account.

“And the world… yawned. Honestly, it’s a terrible name,” said I person. “Is it a tangible company?” asked another who said he had add up crossways a LinkedIn chore post for the companionship and assumed it was fake.

Another concluded that the Light & Wonder identify is most try-on for a companion primarily engaged inwards manufacturing slot machines:

Light (your money on fire) & Wonder (where it went)

— Mr. Jeff (@BOS2DMV) March 2, 2022