Light & Wonder Business Summary

Light & Wonder, Inc. (LNW) operates a diversified gaming and entertainment model, generating revenue through the sale and leasing of electronic gaming machines (EGMs), licensing fees for proprietary iGaming content, and in-app purchases within its social casino portfolio. The company is organized into three primary segments: Gaming, which provides land-based casino hardware and systems; SciPlay, a leading developer of casual and social mobile games; and iGaming, which offers a comprehensive suite of digital content and platforms for real-money online operators. As of February 2026, Light & Wonder maintains its position as one of the top three global leaders in the land-based gaming market, competing directly with Aristocrat Leisure, International Game Technology (IGT), and Konami Group. The company distinguishes itself through an omni-channel strategy, leveraging high-performing land-based titles across digital and social platforms to maximize asset lifecycle and player engagement. Originally founded in 1973 as Autotote Corporation and later known as Scientific Games, the company underwent a strategic transformation and rebranding in 2022 under a leadership team largely recruited from rival Aristocrat. This executive core is led by President and CEO Matt Wilson, a seasoned industry veteran who previously served as President of the Americas for Aristocrat. He is supported by CFO Oliver Chow, who brings extensive financial experience from Aristocrat and JPMorgan Chase, and CTO Victor Blanco, who leads the firm’s cross-platform R&D initiatives. The company’s strategic direction is heavily influenced by its Board of Directors, chaired by Jamie Odell and Vice-Chaired by Antonia Korsanos—both former top executives at Aristocrat who oversaw that firm’s global expansion. Notable board members also include Tim Throsby, former CEO of Barclays Bank Plc, reflecting a board with deep expertise in global finance and large-scale corporate restructuring.