Tag Archives: Barry Cottle

Light & Wonder has confirmed the promotion of Matt Wilson as President and Chief Executive (CEO) of the Global Nasdaq online gambling technology group. Wilson has served as interim CEO of Light & Wonder since August, as the group entered a leadership transition following the departure of Barry Cottle. The board of Light & Wonder has determined Wilson to be …

Light & Wonder Inc (formerly Scientific Games Corp) has confirmed that Barry Cottle has resigned as Chief Executive and a board member of the Nasdaq cross-platform games supplier. The board of L&W has begun a search process to find Cottle’s successor, as long-term senior executive Matt Wilson takes charge of the day-to-day leadership of L&W as Interim CEO. The former …

Light & Wonder Inc has cited confidence in achieving its long-term financial objectives as the Nasdaq technology group continues to benefit from its ongoing corporate transformation.    Publishing its Q2 trading results, Light & Wonder (formerly Scientific Games Corporation) generated $610m from ‘continued business units’ – up 5% on corresponding 2021 results of $580m. Q2 trading saw Light & Wonder complete …

Light & Wonder Inc, the new corporate identity of a transformed Scientific Games Corporation (SGC), has outlined to investors its objective of achieving a $1.4 billion EBITDA target by 2025. The 2025 earnings target declared to investors will require Light & Wonder to match a compound annual growth rate (CAGR) of 15%. The Nasdaq technology group, which during Q1 trading …

Newly established, Light & Wonder the new business entity of Scientific Games Corporation (SGC) has accomplished a major corporate objective by completing the sale of its global lottery unit to private investment fund Brookfield Business Partners for $5.8 billion. Terms on a deal have been finalised, following negotiations between Light & Wonder and Brookfield Partners that began in October 2021. …

Scientific Games Corporation (SGC) has confirmed that it will rebrand its business identity to ‘Light & Wonder’ – to reflect its transformation into a ‘cross-platform’ games supplier for the global gambling sector.  The rebrand was announced as the headline of Scientific Games declaring its full-year 2021 results, in which the Nasdaq gambling technology group achieved a 27% increase in consolidated …

Scientific Games Corporation (SGC) has announced this morning that it will sell its SG Lottery unit to Brookfield Business Partners and its institutional partners for a total sum of $6.05 billion.  The consideration will consist of $5.825 billion in cash and an earn-out of up to $225 million dependent on the achievement of specified EBITDA targets in 2022 and 2023. …

Scientific Games Corporation has confirmed that its Openbet subsidiary will be sold to Hollywood based sports and entertainment group Endeavor Holdings for a total consideration of $1.2 billion (€1.05bn). Reaching definitive terms, Endeavor – the investment fund of US entertainment moguls Ariel Emanuel (CEO) and Patrick Whitesell (Chairman) – will pay $1 billion cash and $200 million in Endeavor NYSE …

Scientific Games Corporation (SGC) pointed to positive group-wide commercial gains, as the firm accelerates plans to divest the technology group’s lottery and sports betting units disclosed during the quarter.    Publishing its Q2 trading results, SGC registered consolidated group revenues of $880 million, up 63% on corresponding Q2 2019 results of $539 million. Period growth was primarily attributed to the …

The board of Scientific Games Corporation (SGC) has this afternoon disclosed that it will pursue a ‘strategic divestment’ of the technology group’s lottery and sports betting units. The decision is reported to be supported unanimously by the SGC board, including Executive Chairman Jamie Odell and Executive Vice Chair Toni Korsanos. Issuing a short statement, SGC detailed that decisive steps needed …