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Light & Wonder
Light & Wonder is a global games company founded in 1973 in Las Vegas, Nevada. The company offers cross-platform gaming solutions, including online, mobile,...
Light & Wonder
Light & Wonder is a global games company founded in 1973 in Las Vegas, Nevada. The company offers cross-platform gaming solutions, including online, mobile, and land-based casino games. Its products support player interaction in the gaming and iGaming sectors.
General information
Firm type
other
Location
Region
North America
Country
United States
City
Las Vegas
Corporate office
Las Vegas, NV, United States
Sector focus
Frequently asked questions
Who runs investment decisions at Light & Wonder?
CEO Matt Wilson leads the executive team; capital allocation decisions are made by the corporate management board and approved by the public company board of directors. The company reports its financials quarterly to the SEC.
How does Light & Wonder generate revenue?
Revenue comes primarily from three units: Gaming (sale and lease of slot machines, table game equipment), SciPlay (in-app purchases in social casino mobile games), and iGaming (online casino platform fees and game licensing). The model is B2B — it supplies technology to regulated casino operators.
Is Light & Wonder a family office?
No. Light & Wonder is a publicly traded corporation (NASDAQ: LNW) with institutional and retail shareholders. It does not manage capital for a single family or operate as an investment office.
What recent M&A activity has the firm undertaken?
In May 2024, Light & Wonder finalized a ~$1.05B acquisition of the remaining 81% of SciPlay it did not already own, consolidating the social gaming subsidiary (per SEC filing). It also sold its lottery business to Brookfield Business Partners in 2022.
Which markets does Light & Wonder serve geographically?
The firm serves regulated gaming markets in North America, Europe, Asia-Pacific, and Australia. Its largest revenue concentration is in the United States, particularly Nevada and other commercial casino states.
How is Light & Wonder structured relative to its spin-off and divestitures?
Following a multi-year restructuring, Light & Wonder sold its lottery business in 2022 and sports betting division in 2020. The remaining entity focuses exclusively on gaming content, slot hardware, and digital iGaming platforms.
What investment stages does Light & Wonder target?
Light & Wonder does not operate as an investment firm. As an operating company, it allocates capital toward game development, hardware R&D, and strategic acquisitions within the gaming technology sector.
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