On October 3, 2022, Engine Capital LP announced that it has invested in SciPlay Corporation and Light & Wonder, Inc because it believes in the cross-platform, content-led strategy pursued by the new leadership of Chair Jamie Odell and Chair Toni Korsanos, the attractive valuations of both Companies, and the fact that there are opportunities readily within the control of SciPlay and Light & Wonder to increase shareholder value. Engine Capital expressed that the current corporate structure of SciPlay – whereby SciPlay remains a separate public entity controlled by Light & Wonder – is inefficient and creates an overhang on the valuation of both Companies. The current structure also prevents Light & Wonder from accessing SciPlay's free cash flows and from making optimal capital allocation decisions.

Engine stated that based on conversations with SciPlay and Light & Wonder shareholders, there appears to be broad agreement that the current structure is suboptimal, detracts from the value of both entities and should be resolved expeditiously. Engine Capital acknowledged that the Companies attempted to merge in 2021 through a stock-for-stock transaction, but that deal structure introduced several complications, including having to value both businesses in relation to one another as well as creating dilution for Light & Wonder shareholders. In addition, Engine Capital expressed that an easier solution exists whereby Light & Wonder acquires SciPlay for $15.00 to $16.00 per share1 using cash on SciPlay's balance sheet without having to issue any new shares.