Key points
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2 years
Time between the October 2023 live dealer launch and the October 2025 exit.
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2022
Year Light & Wonder completed its purchase of live studio Authentic Gaming.
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Pricing
The reason given: operator and supplier dynamics that lowered prices for live content.
Light & Wonder announced in late October 2025, alongside its quarterly results, that it is closing its live casino operations.
The business began when Light & Wonder bought live roulette studio Authentic Gaming, in a deal agreed in 2021 and completed in 2022. Its live dealer product launched in October 2023 with five games from a studio in Michigan, and the group also ran the ARENA studio in Malta.
Why it is leaving
Matt Wilson pointed to "changes to operator and supplier dynamics" in live casino that led to "degradation in pricing". The company said other parts of its business offer "better visibility to superior returns" and that it will focus on first-person content, aggregation and monetisation tools.
A hard category to enter
Live casino is dominated by a few large studios, with Evolution the biggest. The exit shows how hard it is for a newer supplier to win table space at operators, even with a large group behind it. Light & Wonder's later role as distribution partner for Avanti Studios fits the aggregation focus it announced.
Source
What it means for live casino players
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What it means
Tables you played
Light & Wonder and Authentic Gaming live tables will drop out of casino lobbies. Other studios cover the same roulette and blackjack formats.
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Watch out
Studio choice
One fewer mid-sized supplier means more of the lobby comes from the largest studios.
Light & Wonder in live casino
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Done
Authentic Gaming deal agreed -
Done
Acquisition completes -
Done
Live dealer launchFive games from a Michigan studio.
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The news
Exit announced -
Done
Avanti distribution dealLight & Wonder distributes Avanti Studios' games.
