The corporation Scientific Games has rebranded itself as Light & Wonder
Rebranding has become an increasingly popular trend in the iGaming industry. For instance, Paddy Power Betfair has rebranded as Flutter Entertainment, while GVC has transformed into Entain. Observers note that many companies have seen their stock prices stabilize following such rebranding efforts.
Light & Wonder's CEO, Barry Cottle, expressed enthusiasm about the new identity, stating, "We are thrilled to introduce Light & Wonder to the world. This is a company that will create exceptional games and franchises, offering users an amazing experience across various platforms."
He further explained, "Our growth strategy necessitated a new identity to highlight our unique offerings. The new name is the result of a plan aimed at advancing our position in game development. This rebranding will inspire our team to create outstanding products for users around the globe."
The name change to Light & Wonder follows a series of strategic moves made by the company in recent months, including plans to divest parts of its lottery and sports betting business.
Cottle added, "We already have a world-class team comprised of the brightest game creators in the industry. By becoming Light & Wonder, a company that invests in people and products, we will serve our clients even better."
While a name change is often seen as a marker of success, experts caution that there is a fine line that should not be crossed. Minor changes are unlikely to lead to negative consequences, as seen with brands like KFC or HSBC. However, in some cases, consumer backlash can result in a decline in a company's reputation.
As a reminder, the application period for casino licenses in the Netherlands will close in April.
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