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Name changes have been more prevalent in the gaming industry in recent years, with organizations like Paddy Power Betfair, which now operates as Flutter Entertainment, and GVC who own the popular Party Casino brand, which has changed its name to Entain, among others. However, it appears to have been a successful strategy, since share prices have risen as a result of it.
Scientific Games Corporation, which has changed its name to Light & Wonder, Inc., is taking a similar approach, with the goal of providing a seamless player experience across all platforms, according to the company.
Barry Cottle, CEO of Scientific Games, said of the rebranding: “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. 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 casino platform game company and will inspire our people to make great products for our players.”
A New Focus
The company's decision to change its name to Light & Wonder is the culmination of a series of strategic decisions made over the course of several months. Aiming to become a prominent cross-platform global gaming corporation, it intends to divest portions of its lottery and sports betting operations in the near future.
The new name was developed as a result of the company's strategy and feedback from key stakeholders and customers. It also reflects the company's commitment to developing new content, technology, and systems that allow game titles to be played across any channel or location.
"We already have a world-class team powered by the brightest casino 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,” Cottle added.
As part of the makeover, the firm will launch a new website that will feature information on iGaming and land-based goods, technology, and services such as player account management and equipment.
Light & Wonder will continue to function under an assumed name until the formal rebranding is completed in the spring of 2022.
