Scientific Games (via WMS acquisition)

Origins

Scientific Games was started in 1973 in the Atlanta, Georgia area by computer scientist John R. Koza and co-founders. Their breakthrough was the computer-generated instant lottery ticket, and the company grew into a leading supplier of lottery games and systems, publicly traded under the ticker SGMS.

The WMS Acquisition

The defining event for the modern gaming company came with the October 2013 acquisition of WMS Industries for about $1.5 billion. WMS had originated as Williams Manufacturing Company, a Chicago pinball pioneer founded in 1943, and by the 1990s was a major slot-machine maker known for original titles and licensed themes. This acquisition brought Scientific Games into casino equipment and slot participation games, making it one of the world's larger slot suppliers.

Expansion

In 2014 Scientific Games acquired Bally Technologies for about $3.3 billion, adding the Quick Hit, 88 Fortunes, and Jin Ji Bao Xi slot families, the SDS and CMP casino-management systems, and, through Bally's earlier Shuffle Master purchase, table games such as Three Card Poker and automatic card shufflers. In 2018 the company bought NYX Gaming Group, which became the foundation of its digital division through the Open Gaming System aggregation platform and the OpenBet sportsbook.

Restructuring and Rename

In 2021, Scientific Games sold OpenBet to Endeavor Group. In April 2022 it completed the sale of its lottery business to Brookfield Business Partners for $6.05 billion, and a month later the remaining gaming, systems, and iGaming business was renamed Light & Wonder, Inc. The name Scientific Games continues to be used by the divested lottery company, based in Alpharetta, Georgia, which can make coverage of this history confusing.

Business Model and Products

Light & Wonder makes money by licensing slot games, selling or leasing slot machines, providing casino-management software and services, supplying table games and shufflers, and aggregating digital casino content for online operators. Its land-based slot portfolio includes major franchises such as Dancing Drums, 88 Fortunes, Quick Hit, Lock It Link, Ultimate Fire Link, and Jin Ji Bao Xi, many of which operate on linked progressive or community jackpot formats. Its casino systems business retains the Bally heritage SDS and CMP platforms, while its PlayDigital iGaming division distributes proprietary and third-party content.

Market Position

Light & Wonder is one of the largest gaming-technology suppliers globally, competing with International Game Technology, Aristocrat Leisure, and Konami Gaming in slots and systems, and with iGaming aggregators and studios across regulated online markets. The company serves commercial casinos, tribal operators, and digital gambling sites in North America, Europe, and other jurisdictions. This WMS lineage is also why former Scientific Games executives often appear in operator leadership news: Dan Schrementi, a long-time WMS and Scientific Games executive, became President of Gaming at Bally's Corporation.

Recent Direction

Since the rename, Light & Wonder has focused on content-led growth, expanding its slot franchises and its PlayDigital iGaming business, and acquiring the remaining shares of social-casino subsidiary SciPlay. The company has also signaled a return to sportsbook technology through its 2024 acquisition of Angstrom Sports. Under President and CEO Matt Wilson, Light & Wonder continues to operate from its Las Vegas headquarters with approximately 4,500 employees.