Light & Wonder Acquires Remaining SciPlay Stock

Light & Wonder (L&W), formerly known as Scientific Games, has completed a significant acquisition, purchasing the outstanding 17% of SciPlay's stock. The transaction, valued at more than $420 million, solidifies L&W's hold on the social gaming division they previously separated from. SciPlay will now operate as a wholly-owned subsidiary of Light & Wonder, with its common stock no longer being publicly traded on the Nasdaq Global Select Market.

Matt Wilson, L&W's president and chief executive, emphasized the potential benefits of this acquisition, stating, "Fully integrating SciPlay with Light & Wonder creates a more streamlined organization with the financial strength to accelerate our cross-platform strategy and deliver enhanced shareholder returns."

This strategic move comes on the heels of both L&W and SciPlay achieving remarkable financial results. In the first and second quarters of 2023, both businesses recorded all-time high revenue figures. SciPlay's revenue for the three months ending on June 30, 2023, reached $190 million, reflecting an impressive 18.8% year-on-year growth. L&W attributed this success to the core social casino business, which demonstrated strong payer metrics and outpaced the market.

Furthermore, the group revenue for the same three months amounted to $731 million, marking a substantial 19.8% year-on-year increase. This acquisition positions L&W favorably for future expansion and market dominance, enabling improved collaboration between their teams to offer a more seamless and engaging player experience.