Light & Wonder is a US gaming supplier headquartered in Las Vegas and listed on Nasdaq and the ASX, formed from Scientific Games' gaming, iGaming and social businesses after the 2022 sale of its lottery and sports betting divisions. Its three segments are Gaming (slot machines, systems and table products for land-based casinos), SciPlay (social casino apps, fully acquired in 2023) and iGaming, which runs the OpenGaming aggregation platform and supplies content from its own studios and acquired developers including Lightning Box, Playzido and, from its 2025 acquisition, Grover Gaming's charitable gaming business. It holds supplier licences in Britain, Europe, Ontario and the American online casino states and employs around 6,000 people.
Light & Wonder trades as LNW on ASX and carries 4.68% of the iGT 25 iGaming stock index.
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The social casino unit's revenue fell 7% and then 9% this year while the rest of the group grew. Wilson goes on 30 October at the end of his contract, group CFO Oliver Chow takes "executive oversight" from 1 November, and the company says it remains committed to the category. It did not say why he is leaving.
Light & Wonder has made de-leveraging its balance sheet the company's overriding priority after its second-quarter earnings call, with CFO Oliver Chow setting a target of three times cash flow by mid-2027. The shift signals a strategic recalibration for the gaming supplier after years of acquisition-driven growth, and puts share buybacks firmly on the back burner for the remainder of 2026.
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