Light & Wonder - M&A Summary and Business Overview

GamingCompany

Light & Wonder M&A Summary

Light & Wonder has acquired 22 companies, including 9 in the last 5 years. A total of 1 acquisition came from private equity firms. It has also divested 1 asset.

Light & Wonder’s largest acquisition to date was in 2014, when it acquired Bally Technologies for $5.1B. It’s largest disclosed sale occurred in 2021, when it sold Scientific Games - Lottery Business to Brookfield Business Partners for $5.8B. Light & Wonder has acquired in 5 different US states, and 8 countries. The Company’s most targeted sectors include digital media (32%) and gaming (32%).

Light & Wonder Business Overview

Where is Light & Wonder headquartered?

Light & Wonder is headquartered in Las Vegas, Nevada.

What is Light & Wonder’s revenue?

Light & Wonder disclosed revenue of 2,902M USD for 2023 and 2,512M USD for 2022.

How many employees does Light & Wonder have?

Light & Wonder has 6,000 employees.

What sector is Light & Wonder in?

Light & Wonder is a gaming company.

When was Light & Wonder founded?

Light & Wonder was founded in 1984.

M&A Summary

  • M&A Total Activity23
    • M&A Buy Activity22
    • M&A Sell Activity1
  • Total Sectors Invested 8
  • Total Countries Invested 8
  • M&A Buy/Sell Connections 5
  • M&A Advisors 8

Light & Wonder

Light & Wonder, Inc.

6601 Bermuda Road,
Las Vegas, Nevada 89119
United States,
(702) 897-7150
www.lnw.com

Light & Wonder is a developer of technology-based products and services and associated content for worldwide gaming and lottery markets. The Company's portfolio includes instant and draw-based lottery games; electronic gaming machines and game content; server-based lottery and gaming systems; sports betting technology; loyalty and rewards programs; and social, mobile and interactive content and services. Light & Wonder was established in 1984 and is based in Las Vegas, Nevada.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.8/yr) # 13 - 6 2 - 1 22
vol $7.3B $7.3B
Sell (0.2/yr) # - - 1 - - - 1
vol $5.8B $5.8B
  23

Most Recent M&A

Company Date Value Type
Flows Ltd. 2024-02-07 - Growth Capital
London, United Kingdom · www.flows.world
House Advantage LLC 2022-10-06 - Add-on Acquisition
Las Vegas, Nevada · www.houseadv.com
Playzido Ltd. 2022-05-10 - Add-on Acquisition
London, United Kingdom · www.playzido.com
ELK Studios AB 2021-12-01 - Add-on Acquisition
Stockholm, Sweden · www.elk-studios.com
Authentic Gaming Ltd. 2021-11-03 - Add-on Acquisition
Sliema, Malta · www.authenticgaming.com
Scientific Games - Lottery Business 2021-10-27 5.8B USD Divestiture
Las Vegas, Nevada
ACS PlayOn 2021-10-05 - Add-on Acquisition
Reno, Nevada · www.acsplayon.com
Sideplay Entertainment 2021-08-23 - Add-on Acquisition
Jersey, Channel Islands · www.sideplay.com
Lightning Box Games 2021-08-04 - Add-on Acquisition
Sydney, Australia · www.lightningboxgames.com
SportCast 2021-05-26 - Add-on Acquisition
London, United Kingdom · www.sportcast.com.au
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
The Global Draw Ltd. 2006-04-20 Fixed Odds Betting Terminal 2010-04-19 1
Feltham, United Kingdom · www.sg-gaming.com , United Kingdom

M&A by Sector

Sector Buy # Value Sell # Value
Gaming 7 (32%) 6.6B (90%) 1 (100%) 5.8B (100%)
Digital Media 7 (32%) 589M (8%) - -
Software 3 (14%) - - -
Electronics 1 (5%) - - -
Information Technology 1 (5%) - - -
Internet Software and Services 1 (5%) - - -
Leisure 1 (5%) 54M (1%) - -
Machinery 1 (5%) 54M (1%) - -
Total 22 $7.3B 1 $5.8B

By Geo

State/Country Buy Value Sell Value
United States 10 7.2B 1 5.8B
  Nevada 6 5.7B 1 5.8B
  Tennessee 1 - - -
  New Jersey 1 - - -
  Massachusetts 1 - - -
  Illinois 1 1.5B - -
United Kingdom 5 - - -
Sweden 2 54M - -
1 54M - -
Australia 1 - - -
Canada 1 - - -
  Quebec 1 - - -
Channel Islands 1 - - -
Malta 1 - - -
Domestic 10 (45%) 7.2B (99%) 1 (100%) 5.8B (100%)
Cross-border 12 (55%) 108M (1%) - -
Total 22 $7.3B 1 $5.8B

Top M&A Advisors

Financial Deals
BofA Securities
 2
Deutsche Bank Corporate & Investment Banking
 2
Credit Suisse Investment Banking
 1
Legal Deals
Cravath, Swaine & Moore
 2
McMillan
 2
Cleary Gottlieb Steen & Hamilton
 1

Deal Values

buy # Total
> $1B 2 $6.6B
$100M to $1B 1 $589M
< $100M 2 $108M
TOTAL $7.3B
Largest Bally Technologies, Inc.
$5.1B (2014-08-01)
sell # Total
> $1B 1 $5.8B
TOTAL $5.8B
Largest Scientific Games - Lottery Business
$5.8B (2021-10-27)

M&A Connections

Deals
Acquired from
Investor(s)
5%
1 (5%)
Strategic(s)
9%
2 (9%)
Divested to
Strategic(s)
100%
1 (100%)

Company Summary

SECTOR

Gaming

Revenue

2,902   16% 2023
2,512   17% 2022
2,153   21% 2021
2,724   20% 2020
3,400   2% 2019
3,363   10% 2018
3,084   7% 2017
2,883   5% 2016
2,759   55% 2015
1,786   64% 2014
1,090   18% 2013
928   2012
(millions of USD) Show More Show Less

Employees

6,000

Established

1984

Public

NASDAQ: LNW

Former Name

Scientific Games Corp.

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