Thursday, September 29, 2022

Scientific Games Corporation becomes Light Wonder

Company name changes are often considered synonymous with success but there’s most definitely a fine line you don’t want to cross. You can make a subtle alteration without any drama or fuss (think KFC or HSBC) or you can cause a decades-long outcry such as when Unilever changed one letter in Jif to make it Cif. Or even more confusingly for the Brits when Dime became Daim. 

Taking a similar step is Scientific Games Corporation, which will now operate as Light & Wonder, Inc; the notion being that it will enable a seamless player experience across all platforms. There has been a recently popular name-changing trend in gambling companies such as Paddy Power Betfair, which now works as Flutter Entertainment, and GVC becoming Entain. But it has appeared to be a fruitful move with share prices increasing as a result.  

“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’s Chief Executive Officer Barry Cottle. “Our powerful 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 winning strategy to be the leading cross platform game company and will inspire our people to make great products for our players.”

This name change to Light & Wonder follows a series of strategic moves made by the company across the last several months. Its aim is to become a leading cross-platform global gaming company and has plans to sell off parts of its lottery and sports betting businesses. The new name was achieved through the company’s strategic plan as well as from input from key stakeholders. It is also a reflection on a focus on creating new content, hardware and systems that connect game titles across any channel or location.

Cottle added: “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.”

As part of the transformation, the company’s new website will include iGaming and land-based products, technology and services such as player account management and hardware. Light & Wonder will operate under an assumed name until a legal name change is complete in Spring 2022.

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