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82 Brand Capital Score

A weighted composite of this company’s brand-capital drivers, 0 to 100.

79Brand equityThe brand as a durable commercial asset, 0 to 100.
+0.8MomentumThe change in the score since it was last derived.
83Financial strengthBalance-sheet and earnings strength, 0 to 100.
2SignalsPublished market signals that name this company.
B2B supplierScientific Games Rebranded

Light & Wonder

Current signalRecurring Revenue Hits 70%

The read

Light & Wonder rebranded from Scientific Games in 2022, signalling a strategic pivot toward online and digital-first gaming. The rebrand has not yet fully landed in market, operator perception still anchors on the Scientific Games legacy.

What is on this page

The public read on Light & Wonder. What it scores, what that score is built from, and where it sits against its shortlist. Plus all 2 market signals naming it. Every one of the 46 companies here is read the same way.

What a review adds

The free read stops at the position. A review adds the forward view: where value is leaking, what closing it is worth, and the moves in order. It is scored from Light & Wonder’s own evidence, and you get it within 48 hours of asking.

The position

Where Light & Wonder’s value sits

What the name is carrying, and the figures this company is tracked on.

The Brand Capital Score is 0 to 100. It is a weighted composite of the 7 drivers below. Every company on the board is scored on the same basis. What it answers: how much of this company’s worth is built by its brand and its customers, rather than bought each quarter.

Light & Wonder scores 82, brand equity 79. That is 5th of 62 suppliers, never the whole market, because a buyer shortlists three to five names. It is a position, not a grade.

Brand-capital position

Brand equity 79 reflects the rebrand friction, the old 'Scientific Games' identity was stronger in core B2B circles than 'Light & Wonder,' which reads as aspirational but lacks the gravitas of an enterprise technology partner.

What is being tracked
  • Q2 2026 revenue $828M, up from $809M; net income $120M, up 26%; adjusted EBITDA $383M, up 9%, at a 46% margin. Recurring revenue reached $580M, 70% of the mix; $134M returned via buybacks with $180M of capacity left. FY guidance reaffirmed.
  • OpenGaming platform aggregates 6,000+ titles
  • Land-based cabinet business supports online content pipeline
  • Lottery systems in 40+ US states and 60+ countries
Peter Nikashin, Enterprise Value Architect
Peter Nikashin,
Enterprise Value Architect
▲ Reading Light & Wonder

Light & Wonder is performing ahead of its reputation. That gap is growth costing more than it should.

I grow your brand, your customers, and the money both return.

Your budget buys activity. I turn it into things that build over time: the price you can hold, the customers who stay, and what a buyer will pay for the business. Every move is specific, in order, and tied to a number.

Explore the system →

Every quarter you wait, the gap compounds.

The read in numbers

Light & Wonder against the board

Four views of one company — what the score is built from, how much of it is brand, who it is weighed against and which way it is moving. Hover any figure for what it means.

The driver scorecard
Market penetration 84
Product depth 80
Financial strength 83
Brand equity 79
Commercial momentum 82
Regulatory standing 85
Tech 80
Brand equity in rust.

The 7 things the composite is built from, each scored 0 to 100 on the same basis as every other company on the board.

Why it matters

A single composite hides where the value actually sits. Two companies scoring 70 can be entirely different businesses, and the difference is what a buyer pays for.

Strongest on Regulatory standing, weakest on Brand equity. Brand equity sits at 79, and that is the driver that keeps paying after a good quarter ends.

Brand equity against the composite
82 Composite 79 Brand equity
050100
-3points behind the composite
Brand is the drag on this score.

Both figures on one 0 to 100 axis. The banded distance between the two marks is the whole point of the chart.

Why it matters

Revenue can be bought with discounting; brand equity cannot. When brand sits below the composite the business is running on terms it has to keep re-earning, and that shows up in the multiple long before it shows up in the revenue line.

Brand equity trails the composite by 3. The business is performing ahead of its reputation, so growth is costing more than it should.

The nearest peers
IGT / Everi 85
Pragmatic Play 83
Kambi Group 82
Light & Wonder 82
NetEnt / Red Tiger 79
Microgaming 77
This company in rust.

The five companies scored closest to this one, ranked by composite.

Why it matters

Nobody is evaluated against the whole market. A buyer builds a shortlist of three to five comparable names, and these are the ones that would sit on it.

Within this set the spread is 8 points, so the composite alone will not separate them. Whatever decides the shortlist happens on the drivers underneath.

Momentum against the cohort
Light & Wonder +0.8
Cohort median +1.4
Centre line is no change.

This company's score change beside the median change across its side of the board. The centre line is no movement.

Why it matters

Direction beats level over a holding period. A company gaining on a flat field is compounding a position; one sliding while the field rises is losing ground twice.

Moving at +0.8 against a cohort median of +1.4. Losing ground relative to the field even before the absolute change is read.

The next step on Light & Wonder

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The review, the diagnostic and the market-data forecast: what the company is worth today, where the value is leaking, and what the next four quarters look like if nothing changes.

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