Light & Wonder has continued its recent spree of acquisitions by purchasing Playzido, an online gaming content developer launched in 2018.
The company said in a release that the move will accelerate its vision of becoming “the leading cross-platform global game company”.
Light & Wonder has made numerous acquisitions in the iGaming space in recent months after the formerly Scientific Games-titled company sold off both its lottery and sports betting businesses. It has also recently brought on board slot developer Lightning Box, live casino provider Authentic Gaming, and European slot developer ELK Studios. Those purchases are intended to provide easier routes to partner with game studios and operators worldwide, as well as provide a faster route to market for studios who do not own their own development platform.
Under its former name, Light & Wonder had struck an exclusive deal in November 2021 to distribute Playzido’s games in North America and Europe, including its popular Deal or No Deal titles.
Playzido chief Stuart Banks, formerly of Paddy Power and Betfair, said the acquisition is “testament to the drive and dedication of our team”.
“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,” Banks added.”The synergies behind the acquisition are clear and we will now turn our attention to extending our reach across markets across the world.”
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 has reported a 26.3 per cent year-on-year increase in revenue for the first quarter of its 2022 financial year, with overall gaming revenue up 45.5 per cent. The company said this was primarily driven by continued market recovery after the pandemic, with record premium installed base units in North America, elevated average daily revenue per unit, and growth in game sales, systems, and table games.