Light & Wonder Blames Sweeps Casinos for Social Gaming Dip
Light & Wonder, one of the top developers in iGaming for land-based and social gaming, recently reported its second-quarter 2025 results.
LISTEN TO THIS ARTICLE:While the figures were strong overall, the company discussed a setback in the social gaming division with SciPlay. Revenues in that segment fell from $204 million in Q1 to $200 million in Q2.
CEO Matthew Wilson is putting some of the blame on sweepstakes casinos.
Sweeps Competition and Market Impact
Wilson said the drop had to do with “top-line erosion and increased marketing costs” from sweeps operators. He referred to sweepstakes casinos as “unregulated, untaxed iGaming.” Wilson added that, in states where sweepstakes casinos have been banned, the company has seen “a noteworthy uplift in our performance.”
SciPlay operates social casino apps, including Gold Fish Casino, Quick Hit Slots, 88 Fortunes, and Jackpot Party Casino. These iterations compete with sweepstakes casinos’ free-to-play modes, as with sweepstakes casinos, players can use either Gold Coins or Sweepstakes Coins. Gold Coins are solely “for fun,” but Sweepstakes Coins can be redeemed for real cash prizes.
Light & Wonder has been a consistent opponent of sweepstakes casinos. Howard Glaser, one of the company's executives, has been lobbying against them.
Wilson finished by saying that, while they’ll continue to advocate for regulation, the company will focus on “things in our control”.
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Performance Metrics and Industry Standing
While Light & Wonder has its competition, SciPlay has a 12% market share, which is the largest in the industry. CFO Oliver Chow said that the payer conversion ratio was 9.8% in Q2. The average monthly revenue per paying user was up 10% to about $129. Additionally, revenue per daily active user rose 4% to $1.08.
Wilson also mentioned that Quick Hit Slots and 88 Fortunes had record revenues, with both showing double-digit growth year over year.
As of August 2025, anti-sweepstakes legislation has been passed in Connecticut, Montana, New York, Louisiana, New Jersey, and more.
Louisiana Governor Jeff Landry vetoed the bill, but it was only because the Attorney General and Gaming Control Board can already pursue shutting them down.
The bills for anti-sweepstakes legislation are awaiting a signature from the Governors in New York and New Jersey. There’s also pending legislation in Ohio and California.
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