Light & Wonder Inc Ordinary Shares

LNW: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$42.00	Bry	Yhnggthfv

New Morningstar Analyst Report - Scientific Games Corporation

Jun 27, 2011

Business Strategy and Outlook

We believe Scientific Games has temporarily lost its focus, and recent competition has put pressure on the firm's economic moat, causing us to downgrade it to none from narrow.

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How we make money

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

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