Light & Wonder Advances Its Cross-Platform Vision With the Acquisition of House Advantage Assets
October 06 2022 - 4:15PM
Business Wire
Acquisition Enhances Light & Wonder’s
Market Leading Systems Business with Differentiated Omnichannel
Player Loyalty Solutions
House Advantage Founder and CEO Jon Wolfe to
Serve as SVP and President, Global Systems and Services at Light
& Wonder
Light & Wonder, Inc. (NASDAQ: LNW) (“Light & Wonder,”
“L&W” or the “Company”), today announced that it has acquired
substantially all of the assets of House Advantage, LLC (“HA” or
“House Advantage”), a leading loyalty and marketing software and
technology provider, in a cash transaction.
Founded in 2004 and based in Las Vegas and India, House
Advantage develops loyalty solutions for the gaming and hospitality
industries. House Advantage’s core platform, “HALo”, provides a
comprehensive omnichannel loyalty and marketing solution by
integrating and collecting data from multiple systems across
land-based and digital channels. HALo’s unified technology layer
offers an open framework for customers to seamlessly integrate
House Advantage solutions into their casino management systems
(CMS) to deliver highly tailored marketing programs and
incentives.
“Loyalty is no longer just about a player’s card; it’s about the
player journey across all touchpoints. By welcoming the HA team to
L&W, we are strengthening our position and accelerating the
transformation and growth of our systems business to drive greater
value for our customers,” said Matt Wilson, interim Chief Executive
Officer of L&W. “The addition of HA’s industry leading software
and technology solutions allows us to capitalize on the growing
convergence of digital and land-based gaming. With HALo, we gain a
powerful omnichannel player loyalty solution that complements our
current product family and enables us to deliver a truly
differentiated offering. Further, HA adds stable, high-margin
recurring revenue streams with significant growth potential to
bolster cash flows for the benefit of all stakeholders.”
In connection with this transaction, Light & Wonder has
named House Advantage Founder and CEO Jon Wolfe as SVP and
President, Global Systems and Services, and approximately 20 other
employees of HA will become employees of Light & Wonder. Mr.
Wolfe is an industry pioneer with more than 25 years of experience
building leading business intelligence and customer information
systems in the gaming and hospitality sector. He has a proven track
record of driving significant growth and profitability by
capitalizing on industry tailwinds and building strong
relationships with the largest operators in the gaming and
hospitality industry.
Mr. Wilson continued, “With House Advantage, we are also adding
an extremely talented team to our incredible team of Creators
around the world, including their visionary leader, Jon Wolfe. I am
confident that Jon’s experience and expertise will help us advance
our systems strategy and unleash the enormous potential of our
systems team.”
“By joining Light & Wonder, we will be able to expand the
reach of our solutions and gain resources to accelerate the
development of cutting-edge technology to help customers optimize
player management,” said Jon Wolfe. “Convergence of disparate
platforms and unification of data across these platforms into a
contiguous customer experience is our hallmark, and we’re excited
that Light & Wonder shares our player-centric mindset and our
vision for creating a converged, cross-platform future.”
About Light & Wonder, Inc. Light & Wonder, Inc.
(formerly known as Scientific Games Corporation), is the global
leader in cross-platform games and entertainment. Light &
Wonder brings together approximately 6,000 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, Light
& Wonder 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 Light & Wonder’s filings with the
Securities and Exchange Commission (the “SEC”), including its
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 Light & Wonder’s ongoing
obligations under the U.S. federal securities laws, Light &
Wonder 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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version on businesswire.com: https://www.businesswire.com/news/home/20221006005967/en/
Media Inquiries: Media@lnw.com Investor
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Relations jbombassei@lnw.com Media Inquiries Nick Lamplough
/ Lucas Pers / T.J. O'Sullivan, Joele Frank, Wilkinson Brimmer
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