A phoenix out of the ashes: Vegas manufacturer transforms focus after rebrand and emerges as Light & Wonder, making waves in the gaming industry with an eye on iGaming.
Industry Transformation in Las Vegas
The gaming manufacturing landscape is undergoing a significant shift, and Las Vegas is at the forefront of this change. Light & Wonder, led by CEO Matt Wilson, is making strides in the gaming equipment sector with a new approach.
Major Industry Shifts
- IGT's merger plans, which later fell through, and the acquisition by Apollo Global Management.
- Aristocrat Gaming's expansion and venture into iGaming with TangoBet.
- Konami Gaming's innovative product launches at the Global Gaming Expo.
Light & Wonder's Success Story
Formerly known as Scientific Games, Light & Wonder has recorded its 16th consecutive quarter of growth, with a focus on international markets such as Singapore and Macao.
Global Expansion Projects
Wynn Resorts and MGM Resorts are embarking on ambitious projects in the UAE and Japan, respectively. Companies are also exploring opportunities in Thailand's potential gambling market.
Embracing Change
Wilson emphasizes Light & Wonder's dedication to enhancing their game offerings and adapting to new channels like iGaming. Despite slower-than-expected growth in the sector, the company remains optimistic about future digital gaming trends.
Record Revenue and Future Plans
While iGaming revenue continues to rise, Light & Wonder aims to invest in content and product development. The company's presence at the upcoming G2E event is eagerly anticipated.
Innovation in Gaming
The gaming industry is increasingly focusing on technology-driven developments, with a strong emphasis on software design and innovation. The shift towards software-based solutions is reshaping the sector and driving new levels of creativity.
Continued Evolution
As the gaming landscape evolves, companies like Light & Wonder are at the forefront of technological advancements and customer-centric product offerings. The future of gaming is digital, and industry leaders are poised to lead the way.