In the culmination of “a year-long strategic process”, Scientific Games Corporation will now become Light & Wonder, a game company with a “singular focus to be the leading cross-platform global game company”.
Set to accelerate efforts to de-lever and invest for sustainable growth, the transformation is said to be born out of a “strategic vision and input from key stakeholders,” as well as reflecting an enhanced focus on content creation, hardware and systems that connect titles across any place or channel.
“We are thrilled to introduce the world to Light & Wonder, a company that will build great games and franchises that offer players a seamless experience across platforms,” said Light & Wonder Chief Executive Officer, Barry Cottle.
“Our 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 strategy to be the leading cross platform game company and will inspire our people to make great products for our players.”
Representing the latest in a series of strategic moves undertaken by the group – with its lottery divestiture expected to close this month – the company will operate under an assumed name until a legal name change is complete in spring 2022. At that time, it intends to start trading under a new stock ticker it has reserved, LNW.
Cottle concluded: “We already have a world-class team powered by the brightest game creators in the business and in transforming into a growth company who invests in our people and products, we will serve our players even better wherever and whenever they play.”