The extended legal tussle between Light & Wonder and Aristocrat has taken another turn, as the US District Court for the District of Nevada has stated that the math at the heart of its Hold N’ Spin titles isn’t required to be revealed.
Whilst it may not seem monumental, it’s a result that will be celebrated for Light & Wonder, with it also causing the group’s shares to spike by 10% on Wednesday.
It comes amidst the duo preparing for a significant legal collision in 2026, when a trial between the two companies is set to take place.
An investor note from Jefferies Equity Research analyst David Katz stated: “We view the case generally as background noise in the near term, financially limited and beside the key point of our thesis: For the time being, these are the only two large suppliers in the market.”
Katz added: “The competition between the two companies is intense, given their positioning as the only two large-scale game developers globally and the number of people at Light & Wonder that were formerly at Aristocrat.”
The Hold N’ Spin feature is a key focus for Light & Wonder, as the company looks to continue evolving its portfolio.
During its Q1 2025 results, the supplier emphasised that a key driver of its success was the diversified portfolio that it was bringing to the iGaming ecosystem.
Katz detailed regulatory disruptions of IP lawsuits. However, this case represents one that is more prevalent in the industry.
Copyright infringement beyond Dragon Train
The legal battle between Aristocrat and Light & Wonder has been going on for a significant period of time, and whilst the original lawsuit focused on the Dragon Train title, which Aristocrat claims copies key elements of its Dragon Link casino game, it has since expanded much beyond this.
The company alleges that Light & Wonder has “engaged in a wide-ranging campaign to copy Dragon Link that coincides with the hiring of multiple former Aristocrat executives and game designers”.
Last September, a decision in Nevada saw the granting of an injunction and the subsequent order for Light & Wonder to remove the Dragon Train gaming machines in North America. However, a similar decision was not granted in Australia.
