Light & Wonder reports year-over-year revenue growth
Gaming revenue totalled $495m, up 4 per cent.
US.- Light & Wonder has reported financial results for the first quarter ended March 31, 2025. The company achieved its 16th consecutive quarter of year-over-year revenue growth.
Gaming revenue increased to $495m, up 4 per cent compared to the prior year period, driven by growth across all lines of business, including 9 per cent in table products and 5 per cent in both gaming systems and gaming operations.
SciPlay revenue totalled $202m, a decrease of 2 per cent compared to the prior year period. iGaming revenue increased by 4 per cent to $77m.
Matt Wilson, president and chief executive officer of Light & Wonder, said: “Our R&D investment, vast array of product offerings and comprehensive content strategy continue to deliver success in game deployment and franchise expansions. We continue to see our omni-channel strategy prosper with enhanced game development and performance fueling our existing businesses, and further opportunity to extend this strategy with the pending Grover Charitable Gaming Acquisition.
“We remain confident in the various avenues of growth that we see for 2025 with continued execution on our robust product roadmap driving performance across the business. We are committed to executing off the strong foundation of world class talent and game portfolio that we have built for long-term success.”
Oliver Chow, chief financial officer of Light & Wonder, added: “This quarter is a further testament to our commitment to value creation as we generated strong cash flow coupled with another meaningful quarter of share buyback. Our solid performance continues to be underpinned by a focus on streamlining and optimizing our business to enhance margins as reflected in the quarter across the three business units and corporate functions. The initiatives and processes that we have in place enable us to remain nimble and adaptable to a dynamic environment and positions us well to be a sustainable compounder of growth well into the future.”
In February, the company entered into a definitive agreement to acquire the charitable gaming assets of Grover Gaming and G2 Gaming for $850m cash plus a four-year revenue-based earn-out of up to $200m. The company expects the transaction to close during the second quarter of 2025.
