Scientific Games Finished Transformation to Light & Wonder

03 may 2022
Author: James Burton
read later

The changes include the legal name and abbreviation for the stock market. The company says that such rebranding announced in March is aimed to represent their tune. It reflects the e-gambling aim.

Scientific Games' transformation to Light & Wonder

The company opened trades using the L&W symbol in NASDAQ. The process started on 29 April 2022.

Cross-Platform Tune

The name change is a part of the whole strategy of becoming the leader in the cross-platform gambling industry. The software developer’s goal is to launch astonishing, fully cross-platform games. The company representative noted that such an approach provides an iconic entertainment portfolio and franchises for both land-based and online (including mobile) casinos.

The internet option gives even more place to grow — L&W games can easily be found in real-money and free-to-play categories. Products of the leading provider are compatible with any device and system, whether it is iOS or Android.

Financial Trouble Shooting

Due to the big debt, the company sold its lottery division in April. This brought the firm $ 5.8 billion in gross (excluding taxes, approximately $ 5 billion). The deal allowed Light & Wonder to pay off a huge part of their debt. This month the urgent loan of $ 4 billion was paid off.

The company managed to reduce its credit from $ 8.8 to $ 4 billion. The net debt leverage ratio of the corporation has decreased from 6.2x to slightly below 3.9x.

Light & Wonder made a deal with Endeavor, implying selling OpenBet for $ 1.2 billion to the partner organisation.

One of L&W's strategic plans for 2022 is extending an agreement with Entain for the long term. This is a British company specified in betting and gambling.

Share via social media
Do you like the article?
Like
0
LOL
0
Love
0
Cool
0
Meh
0
Wow
0
Join our Telegram channel James Burton James Burton The Casino Market partner, the owner of the gambling establishments’ network
Attention!

Check the information used to contact us carefully. It is necessary for your safety.

Fraudsters can use contacts that look like ours to scam customers. Therefore, we ask you to enter only the addresses that are indicated on our official website.

Be careful! Our team is not responsible for the activities of persons using similar contact details.

Do You Have Any Questions?
Consult our expert for free!
Enter your message
Type your message
Name
Enter your name
You need to fill in the captcha
Please confirm your agreement with our rules
DEMO
Configurator of a Casino
Request via Telegram
Download presentation
Share this
Configurator
Create your own unique gaming site absolutely free!
Assemble a casino
Connect the demo of a gaming site!
Connect demo
By using this website you agree to use cookies as stated in
DEMO
Download Casino Market presentation
Learn more Download