Dylan Slaney, CEO of Light & Wonder’s iGaming division has announced his resignation from the company.
Stepping down from his executive position and leaving the company entirely, Slaney took to LinkedIn to make the announcement as part of “a personal decision in its purest form.”
“It’s been an incredible journey leading this business over the past seven years, and I’m immensely proud of what we’ve accomplished together,” Slaney wrote.
“Thank you to Light & Wonder for putting your trust in me as CEO and for the support to invest and grow the iGaming business.”
While serving a total of seven years at the supplier, Slaney has held the position of CEO for Light & Wonder’s online casino division since October 2021, reporting directly to group CEO Matt Wilson.
“To the team at Light & Wonder – iGaming, your dedication, passion and relentless ‘never settle’ drive inspired me every day. I am confident that the best is yet to come for you and the business you have created. Thank you for the belief,” his post continued.
“Thank you for the memories… Proud and humbled to have been given this amazing opportunity. and looking forward to writing the next chapter.”
The outgoing CEO previously served as Executive Vice President of Gaming for NYX Gaming Group before it was acquired by Light & Wonder, then known as Scientific Games, in 2018.
Slaney was then appointed Senior President of Gaming at the new Scientific Games Digital division, which became Light & Wonder iGaming due to a 2022 rebrand, as the company divested its sports betting and lottery assets to focus on gaming.
One representative from Light & Winder told SBC Americas: “We’ve been on an incredible journey in our iGaming business over the last seven years, and we want to thank Dylan and the entire iGaming team for building the iGaming business into what it is today.
“We have unwavering faith in our current team’s ability to unlock even greater opportunities moving forward.”
Last week, Light & Wonder announced its Q3 2024 financial results, with Wilson explaining to investors the latest updates on the company’s Dragon Train debacle.
He said: “The first is the North American premium gaming install base. We said we had about 2,200 units installed in the US – we’ve been able to convert 95% of those games to new titles, titles like Ultimate Fire Link and Invaders from Planet Moolah.
“And we’ve got some more games to support that base. So we’ve lost less than 100 units in the North American install base which is a great outcome.”
Positive performance for the firm in North America played a key part in it landing a gaming revenue increase to $537m, up 15% compared to the prior year period.
Italy’s Customs and Monopolies Agency (ADM) has reported a drop in tax revenues from Italian gambling operations in 2024.
In its latest Statistical Bulletin, ADM stated that it collected €8.05 billion in gambling taxes as of 30 September 2024, marking a 6% decline from the €8.2 billion collected during the same period in 2023. For the entirety of 2023, ADM gathered €11.62 billion in gambling taxes. If the trend continues, 2024 will be the first year ADM sees a drop in tax revenues, excluding the pandemic-hit year of 2020.
The bulletin detailed a sharp decline in Q3 2024. Gambling tax revenues fell by 16% to €2.22 billion, compared to €3.3 billion in Q3 2023. ADM linked this drop to a 26% year-on-year decrease in net gambling expenditure, which declined from €5.9 billion in Q3 2023 to €4.35 billion in Q3 2024.
While gambling revenues fell, the tobacco sector performed strongly, generating €4.18 billion in Q3 2024—an increase of 5.77% compared to the previous year.
In the gambling sector, gaming machines remained the largest revenue source, contributing €910 million (41%) from net expenditure of €1.26 billion. Lotteries and number games followed, adding €870 million (39.08%), while betting brought in €180 million (8.17%), and other games accounted for €260 million (11.64%).
ADM introduced a new licensing scheme for online gambling concessions on 18 November 2024. This overhaul is the most significant change to Italian online gambling regulation since its launch in 2011. The new licences, which last nine years, cost €7 million each and include an annual fee of 3% on gross gaming revenue (GGR), excluding taxes and winnings.
ADM extended existing licences by one year, allowing them to remain valid until 31 December 2024, as per Budget 2024 provisions. The updated rules limit operators to offering “one app per gambling product type and one website.” ADM also implemented strict penalties for operators using skin websites to promote branded products.
ADM expects around 50 operators to apply for new licences, which could generate €350 million in concession fees and €100 million annually in fixed licence fees.
