Gambling service product and service supplier Light & Wonder has announced its decision to move away from its live casino business, choosing to focus on other aspects of its business that will provide greater returns on investment.

The Las Vegas-based gambling giant’s decision will leave Playtech and Evolution as the only US live casino suppliers. However, US consumers will still have access to offshore alternatives, allowing bettors to gamble using cryptocurrencies, and traditional currencies, avoid KYC checks, and play without an account.

Gambling expert Matt Bastock explains that options that don’t require registration provide easier access and increased anonymity for players. These options have welcomed a lot of US consumers, making the online casino industry a particularly challenging market for US operators.

Light & Wonder to Drop Live Casino

After a strategic review, CEO Matt Wilson explained that the business wanted to focus on areas of the business with superior returns. Changes to the dynamics around supplying to operators saw pricing hit and have chosen to focus instead on 1PP (first-person perspective) monetization tools, aggregation, and content to drive online growth.

Light & Wonder initially launched its live casino operations in October of 2023 alongside Authentic Gaming.

Light & Wonder Revenue Surge

This news might come as a surprise to many after they posted their revenue for 2024 which hit $3.2 billion, representing a 10% year-on-year growth. A key factor in this growth was a rise in sales of gaming machines to North American and Australian buyers.

The company’s net income of $336 million showed an impressive 86.7% increase with its iGaming sector increasing by 9%. Online expansions in the international and US markets helped the iGaming revenue reach $299 million, with increased growth of 11% in Q4 alone seeing $78 million created.

Light  Wonder was originally named Scientific Games Corporation (SG) and includes Shuffle Master, WMS, and Bally among its brands. Founded in 1973 and rebranded to its new name in 2022 after selling off its lottery and sports betting divisions the year before.

Recent internal restructuring saw Simon Johnson named the new iGaming division CEO and he will have been instrumental in the organization’s decision to streamline its online services.

A milestone of a $1.4 billion EBITDA in 2025 has been set with plans to implement cross-platform strategies and continue with product innovation. While iGaming revenue showed excellent growth in Q4 of 2024, it still represented a fraction of the company’s revenue in comparison with its gaming revenue of $515 million and SciPlay division which contributed $204 million.

However, the 11% growth of the iGaming division is something that will please bosses with the SciPlay division merely maintaining its position and the gaming sector increasing by 4%. Platform adoption and stronger game content from the iGaming side of operations could help the company grow even further in 2025.

The gambling industry in the US is far from stable at the moment with many states considering expansions of land-based and online markets. If regulatory changes are pushed through, Light & Wonder could be in a position to capitalize, especially after agreeing to a takeover of Grover Gaming in a deal worth more than $1 billion.