Light & Wonder

Light & Wonder creates and monetises gaming content and software across physical casinos, regulated online gambling, and mobile social gaming. In its B2B activities, it supplies casino operators and online gambling platforms with game content, aggregation infrastructure, operator systems, and related loyalty or payments capabilities, earning from equipment sales, software access, licensing, and revenue-share structures. In its B2C social gaming arm, it publishes free-to-play mobile titles monetised through virtual goods and advertising. The company creates value by reusing content, IP, and platform capabilities across land-based, online, and social channels.

Light & Wonder is a publicly listed gaming technology and content company operating across land-based casino systems, B2B iGaming infrastructure, and consumer social casino games. Following its 2022 rebrand and lottery divestiture, the business has focused on cross-platform gaming content and related software, including casino game development, operator systems, aggregation and distribution platforms, and free-to-play mobile gaming through SciPlay.

It generates revenue through a blended model: sales and leasing of gaming machines and systems to casino operators, recurring participation and platform revenues from installed and digital gaming products, revenue-share and licensing arrangements in iGaming, and in-app purchases plus advertising in social casino games. Its direct customers are primarily casino operators, gaming venues, regulated online gambling platforms, and, through SciPlay, mobile players.