{"id":203397,"date":"2022-03-02T08:11:25","date_gmt":"2022-03-02T16:11:25","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=203397"},"modified":"2023-04-20T10:29:54","modified_gmt":"2023-04-20T15:29:54","slug":"scientific-games-rebranding-light-wonder-garners-mixed-reviews","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/scientific-games-rebranding-light-wonder-garners-mixed-reviews\/","title":{"rendered":"Scientific Games Rebranding to Light & Wonder Garners Mixed Reviews"},"content":{"rendered":"

Scientific Games will soon be no more. The Las Vegas gaming manufacturer announced during its full-year 2021 earnings report that the company is undergoing a major rebranding to Light & Wonder.<\/p>\n

\"Scientific
Scientific Games President and Chief Executive Officer Barry Cottle celebrates the launch of Light & Wonder with employees at the company’s Las Vegas headquarters. Scientific Games’ rebranding generated a mixed response. (Image: Scientific Games)<\/figcaption><\/figure>\n

After selling off its lottery and sports betting businesses last year for a combined $7.2 billion in order to pay off debt, Scientific Games says Light & Wonder is a better brand name for its future. The company responsible for such popular cabinets as 88 Fortunes<\/em><\/a> and Mega Link<\/em> says its focus ahead is in retail terminals and iGaming innovation.<\/p>\n

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That’s where the world is trending because in iGaming, particularly in the United States, the land-based operators are getting digital licenses, and they want to provide their players 360-degree access to the games that they have,” Scientific Games Chief Executive Barry Cottle told The Wall Street Journal<\/i>.<\/p>\n<\/blockquote>\n

The iGaming industry in the United States is still relatively new. Only six states permit online slots<\/a> and table games. But the continued emergence of legal sports betting over the internet is expected to lead additional states to mull full iGaming<\/a>.<\/p>\n

COVID-19 also heightened the necessity of legal internet casino sites. States like Pennsylvania<\/a> and New Jersey<\/a> that had such gambling operational during 2020 and last year were able to offset some of their land-based gaming tax losses due to casinos being shuttered amid the pandemic.<\/p>\n

New Focus, New Name<\/b><\/h2>\n

Scientific Games reported a debt of $8.8 billion<\/a> as of September 30, 2021.<\/p>\n

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In order to deleverage its balance sheet, the company opted to sell its OpenBet turnkey sports betting platform to Endeavor Group Holdings for $1.2 billion. Scientific’s lottery division — SG Lottery — was sold to Brookfield Business Partners LP for approximately $6 billion.<\/p>\n<\/div>\n

With its sports betting and lottery units dispersed, Scientific, ahem, Light & Wonder, is readying for its next chapter.<\/p>\n

“As we begin this new chapter we have chosen a new name, Light & Wonder. A name that evokes the kind of feelings we want to capture in the work we do every day — excitement, inspiration, imagination, and maybe even a little bit of magic and certainly a lot of fun,” said Cottle.<\/p>\n

Scientific said it will begin using the Light & Wonder identity immediately. It’s expected to legally change this spring.<\/p>\n

Jaw-Dropping Response<\/b><\/h2>\n

Scientific Games rebranding to Light & Wonder is certainly unique. The decision was met with mixed reviews.<\/p>\n

“The worst name I’ve ever heard,”<\/strong> said one Twitter user in response to a Scientific Games tweet regarding the change.<\/p>\n

Casino.org’s <\/i>Scott Roeben of VitalVegas fame gained some stern feedback after sharing the Light & Wonder news on his ever-popular Twitter account.<\/p>\n

“And the world\u2026 yawned. Honestly, it’s a terrible name,”<\/strong> said one person. “Is it a real company?”<\/strong> asked another, who said he had come across a LinkedIn job post for the company and assumed it was fake.<\/p>\n

Another concluded that the Light & Wonder name is most fitting for a company primarily engaged in manufacturing slot machines:<\/p>\n

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Light (your money on fire) & Wonder (where it went)<\/p>\n

— Mr. Jeff (@BOS2DMV) March 2, 2022<\/a><\/p><\/blockquote>\n