Light & Wonder, Inc. (LNW)

Light & Wonder, Inc. is a Las Vegas-based provider of technology-based products, services and content for the global gaming, lottery-adjacent, social and digital gaming industries. The company was known as Scientific Games Corporation until it changed its name to Light & Wonder in 2022. Its corporate lineage goes back to the 1970s through the businesses that became Scientific Games, which later acquired Bally Technologies in 2014 in a transaction worth several billion dollars.

Its operations were grouped into three main areas. The Gaming segment sold and leased slot machines, electronic table systems and video lottery terminals, along with table products such as shufflers and licensed table games, and provided content and casino management systems. The SciPlay segment developed free-to-play social casino games for mobile and web platforms, and the iGaming segment offered real-money online casino content and an open distribution platform for operators.

The company reshaped itself during the early 2020s by selling its lottery and sports betting businesses, a divestiture that allowed it to concentrate on casino gaming and digital games. It also bought the remaining shares of SciPlay that it did not already own in 2023 and made acquisitions in the iGaming content area. The rebranding to Light & Wonder accompanied this strategic shift away from the broader mix of businesses it had operated previously.

The common stock traded on the Nasdaq Global Select Market under the ticker LNW. In 2024, the company added a secondary listing on the Australian Securities Exchange, where its shares trade as CDIs, which are instruments representing beneficial ownership of underlying shares. The Australian listing reflected the importance of the Australian gaming industry to the company and the participation of Australian investors in the stock.

In October 2025, Light & Wonder announced that it would delist from Nasdaq and make the Australian Securities Exchange its sole primary listing. The company updated the timetable on October 13, 2025, stating that the last day of Nasdaq trading would be Wednesday, November 12, 2025, and that the delisting would take effect before the open on November 13, 2025. A Form 25 was filed with the Securities and Exchange Commission on November 3, 2025.

The delisting was voluntary and was not connected to an acquisition, bankruptcy or listing deficiency. The company continued to trade on the Australian exchange under the ticker LNW and, in its filings, continued to describe its business as a global gaming technology provider. The transaction did not change its corporate headquarters in Las Vegas.