Oct 07, 2022 Newsdesk Industry Talk, Latest News
Casino gaming equipment and content provider Light & Wonder Inc says it has enhanced its system-management offer for land-based and online gaming operators by acquiring for cash most of the assets of House Advantage LLC. The latter is described as “a leading loyalty and marketing software and technology provider”.
The value of the deal was not disclosed in a Thursday press release from Light & Wonder.
Under the arrangement, Jon Wolfe, founder and chief executive of House Advantage, is to become a senior vice president and president, global systems and services, at Light & Wonder. Around 20 other employees of House Advantage will be absorbed into the suitor’s operation.
“The addition of House Advantage’s industry-leading software and technology solutions allows us to capitalise on the growing convergence of digital and land-based gaming,” said Matt Wilson, interim chief executive of Light & Wonder, in prepared remarks in Thursday’s press release.
House Advantage’s core platform, ‘HALo’, is said to provide a “comprehensive omnichannel loyalty and marketing solution” by integrating and collecting data from multiple systems across land-based and digital channels.
HALo also offers an open framework for gaming-industry operators to integrate House Advantage technology into their existing casino management systems, in order to deliver “highly-tailored marketing programmes and incentives” to consumers.
House Advantage was founded in 2004 and has operated via Las Vegas, Nevada, in the United States, and via India.
In other developments, on September 30, Light & Wonder said it had completed the sale of its sports betting business, OpenBet, to Endeavor Group Holdings, Inc. The deal had been announced in September last year, in what was described at the time as a US$1.2-billion deal.
The updated announcement said the completed transaction involved total gross proceeds of approximately US$800 million, consisting of US$750 million in cash – “subject to certain customary adjustments” – and 2,305,794 shares of Class A common stock of Endeavor.
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