Six years ago, Dylan Slaney entered the gambling industry, and he is now in his seventh year at the helm of Light & Wonder, a UK-based company. In an interview with iGB about the creation of one of the leading gambling divisions globally, Slaney reflects on the industry's rapid growth since his entry in October 2017.
Upon entering the industry, Dylan wasted no time. He swiftly ascended through the gaming ranks, starting as the executive vice president of gaming at NYX Gaming Group. Following Scientific Games' acquisition of NYX, Slaney assumed the role of Senior Vice President of Online Games at SG Digital. Subsequently, Scientific Games underwent reorganization, with the sale of the sports betting and lottery divisions and a company-wide rebranding.
This transformation resulted in a leaner and more focused corporation, comprising three divisions - land-based gaming, social casino division SciPlay, and iGaming, the division led by Slaney as CEO. The iGaming department reports to group chief executive Matt Wilson.
In his journey, Slaney navigated through three major strategic evolutions within a single company. Reflecting on this, he states, “Leading a major gaming department is an honor and something I am proud of every day.”
The gambling landscape has undergone significant changes in recent years, and Light & Wonder, where Slaney joined in 2017, has transformed accordingly. Once dominated by dot.com markets, the sector has now been shaped by a wave of dot.country regulation. Consequently, countries like the USA and Brazil, previously deemed inaccessible to the gambling business, have become key growth points for the industry.
“Because we only operate in regulated markets, each country needs to tailor our offering to meet specific regulatory rules,” explains Slaney. “The local market dictates everything from spin speed to betting limits and reporting.”
This adds a new layer of complexity to the Light & Wonder iGaming business. Nevertheless, we adhere to specific principles in our operations, with our ultimate goal being to safeguard players reliably," notes Slaney. "Ensuring players are protected from potential harm is a significant advantage of regulated markets, and we wholeheartedly support this initiative."
"However, maintaining a balance in market operations is crucial. Excessive regulation can lead to undesirable outcomes. For instance, low betting limits may encourage players to turn to the black market, which is not in the best interest of players or the industry. When it comes to heightened controls and responsible gambling, such as accessibility checks – a commitment the industry has made – again, everything needs to be balanced and measured. Only then can we ensure that players, through responsible gaming, continue to enjoy the best that our amazing industry has to offer," says Slaney.
The company takes into consideration potential changes associated with the new regulations outlined in the "white paper" – the gambling law in the UK. The company is dedicated to developing innovative products that align with the evolving era of gambling in the country.
"It was interesting to observe how the new laws would impact brands and types of content. Currently, we are witnessing how players select content based on factors such as session length and bet levels," says Slaney.
The Wonder 500 series from Light & Wonder is a direct result of this research. With a bet limit of £2 per spin, winnings capped at £500, and bonuses awarded more frequently, it balances out the lower stakes model. "The effect has been very positive, and players have responded well to the new style of play."
iGaming is racing forward at high speed
iGaming is hurtling forward at breakneck speed, with industry dynamics evolving in response to both regulatory shifts and the swiftly changing expectations of gamers themselves. A notable player in customer data expertise, Dunnhumby – recognized for projects like the Tesco Clubcard in the UK – understands the intricate level of sophistication required to captivate and retain consumers across various sectors.
Dylan Slaney highlights a pivotal trend in the gambling landscape for the coming years: an emphasis on elevating player engagement through supplementary features seamlessly integrated into the core gaming experience. While similar offerings have surfaced in the market, Slaney anticipates a rising demand for content such as multiplayer gaming with customizable elements and distinctive rewards.
While content remains a pivotal aspect in all genres of games, there is a growing emphasis on making games more intricate and multi-dimensional. The evolution towards more engaging gaming experiences is expected to define the upcoming phase of gaming. ELK Studios, acquired by Light & Wonder two years ago, stands out as an illustrative case. Their success, driven by the CollectR payout mechanics featured in games like Pirots and Pirots 2, demonstrates the impact of combining powerful content with innovative mechanics.
"Both games set new records, with Pirots 2 achieving the best launch in the UK and EU. Observing player responses to the new mechanics, witnessing these games evolve into a true franchise, and observing the increasing influx of players to Pirots was a fascinating experience," remarks Slaney. This showcases a synergistic convergence of robust content and novel mechanics, fostering heightened player engagement.
Light & Wonder growth point
As the CEO of Light & Wonder iGaming, Slaney is tasked with steering the company towards growth and economic prosperity. Online gambling stands as a crucial component of the company's envisioned success in the future. In the third quarter, Light & Wonder witnessed a remarkable 21% year-over-year revenue growth, solidifying its position as the fastest-growing division, surpassing SciPlay (up 15% in Q3) and Gaming (up 11%).
Despite this commendable growth, with Q3 revenue reaching $70 million, Light & Wonder still trails behind SciPlay ($196 million in Q3) and Gaming ($465 million). To execute his strategy of amalgamating unique content with innovative consumer engagement approaches, Slaney acknowledges there is much work ahead.
Strategic distribution deals with trailblazers in crash gaming, such as Spribe, and exclusive content, including the Squid Game slot – Netflix's inaugural gaming licensing deal, set for release as land-based slots initially – are contributing to Light & Wonder's progress. However, the market poses significant competition, with online slot machines lacking the same level of compliance protection as fully regulated providers like Light & Wonder.
Slaney and his team face formidable challenges, but he embraces the journey. “I firmly believe that every victory or good decision teaches you something, but you learn even more from every failure, setback, or bad decision. It's essential to analyze why something didn't work, allowing you to make the right decisions in the future and take responsibility. I learned this early on from a great mentor, and it has guided me throughout my career.”
Rules for success from Dylan Slaney – CEO of Light & Wonder iGaming
Dylan Slaney, CEO of Light & Wonder iGaming, attributes his rules for success to a foundation of maximum responsibility and embracing every success and failure as a learning opportunity, principles ingrained in him from a young age.
Sharing insights about his life philosophy, Slaney, who grew up in a single-parent family without knowing his father, credits his mother as a significant inspiration. He describes her as possessing a resolute character, emphasizing the belief that everything in life must be earned through hard work and determination. According to Slaney, this mindset, instilled by his mother, has significantly influenced both his career and life.
“One thing I hope they have in their DNA (my three daughters) is to never take anything for granted that falls from the sky, to push forward and be the best version of themselves,” reflects the successful executive.
This philosophy extends to Slaney's leadership at Light & Wonder iGaming, where the team operates with a 'never settle' mentality. Slaney emphasizes that this DNA mindset propels him and the business forward. In an industry as dynamic and evolving as online gambling, this ethos is crucial.
“The industry is rapidly evolving: new regulation, new markets, innovation, and competition. These processes never stop, and you need to accept this pace and learn to love it,” states Slaney. He acknowledges that the rapid pace might not be suitable for everyone, but he sees it as a significant advantage. According to him, the online gambling industry is not for everyone, yet the constant change and challenges make it an enticing and rewarding field for those willing to embrace it.
