Purchase of Supplier to Aid Distribution of Innovative Content Worldwide
Light & Wonder, Inc. (NASDAQ: LNW), formerly known as Scientific Games Corporation (“Light & Wonder,” “L&W” or the “Company”), today announced that the Company has significantly increased the scope of its iGaming content capabilities with the acquisition of Playzido, a dynamic content creation platform provider and game supplier.
Playzido’s proprietary Remote Gaming Server (RGS) platform is one of the best in the iGaming industry for rapid custom game development
Their open and agile platform will accelerate the pace at which L&W can partner with game studios and operators across the globe to co-create new and exclusive content for players.
Plazyido’s platform will accelerate the L&W partnership strategy that has already been instrumental in the creation of content for studios like Lightning Box, who was also recently acquired by L&W.
This acquisition will provide a faster route to market for creative studios who do not own their own development platform, who can now utilize Playzido’s advanced technology to rapidly develop exciting and engaging content and take advantage of L&W’s industry-leading and regulatory-ready OpenGaming™ aggregation platform to distribute more games than ever before across L&W’s operator network. For operators, this will not only provide new and exciting content, but also facilitates their growing demand to develop and launch unique content.
This marks another step towards Light & Wonder’s vision of becoming the leading cross-platform global game company.
Launched in 2018 by former Paddy Power and Betfair alumni, Stuart Banks, Playzido has developed a strong footing in European markets, and now, with Light & Wonder, is primed to scale further in these markets and to break into North American markets. Playzido’s flexible technology is purpose-built for creative independent studios by supporting every game type and incorporating elements including multiplayer games and jackpots.
Dylan Slaney, CEO at Light & Wonder, iGaming said: “The Playzido deal is a perfect example of an acquisition that dovetails with our global strategy, demonstrating yet again our commitment to make targeted value-enhancing investments designed to advance our cross-platform content capabilities.
“Playzido’s platform is one of the best in the industry and we are delighted to be able to harness that technology to help studios and operators globally to develop and distribute game content that will continue to resonate with players. Light & Wonder is the go-to partner for game development and distribution globally, delivering the perfect combination of technology, network, and services.”
Stuart Banks at Playzido said: “This deal is testament to the drive and dedication of our team, who have been committed to building a fantastic games platform that allows independent studios and operators to bring their creativity and innovation to the global gaming market.
“It is the perfect moment to become part of the Light & Wonder family, with the distribution power of OpenGaming, and their regulatory expertise, we can look to accelerate quickly by bringing on board more studios than ever before. The synergies behind the acquisition are clear and we will now turn our attention to extending our reach across markets across the world.”
The latest deal by Light & Wonder follows recent high-profile iGaming acquisitions of slot developer Lightning Box, premium live casino provider Authentic Gaming and leading European slot developer ELK Studios.
© 2022 Scientific Games Corporation. All rights reserved.
About Light & Wonder, Inc.
Light & Wonder, Inc. (formerly known as Scientific Games Corporation), is the global leader in cross-platform games and entertainment. The Company brings together 5,000 employees from six continents to connect content between land-based and digital channels with unmatched technology and distribution. Guided by a culture that values daring teamwork and creativity, the Company builds new worlds of play, developing game experiences loved by players around the globe. Its OpenGaming™ platform powers the largest digital-gaming network in the industry. The Company is committed to the highest standards of integrity, from promoting player responsibility to implementing sustainable practices. To learn more, visit lnw.com.
Forward-Looking Statements
In this press release, the Company makes "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "will," "may," and "should." These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of timing, future results, or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks, uncertainties and other factors, including those factors described in our filings with the Securities and Exchange Commission (the “SEC”), including the Company’s current reports on Form 8-K, quarterly reports on Form 10-Q and its annual report on Form 10-K that was filed with the SEC on March 1, 2022 (including under the headings "Forward-Looking Statements" and "Risk Factors"). Forward-looking statements speak only as of the date they are made and, except for the Company’s ongoing obligations under the U.S. federal securities laws, the Company undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.
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