Light & Wonder posts 21 per cent rise in revenue for Q2

Light & Wonder’s gaming revenue was $471m in Q2 2023.

US.- The gaming supplier Light & Wonder has reported a ninth consecutive quarter of consolidated year-over-year revenue growth for the second quarter ended June 30. Gaming revenue was $471m, up 21 per cent compared to the prior year period. There was double-digit growth across all areas of the businesses, including SciPlay and igaming.

Gaming machine sales increased by 41 per cent due to increases in North American and Australian machine sales. SciPlay revenue was $190m, up 19 per cent compared to the prior year period. Igaming revenue reached $70m, up 17 per cent.

Matt Wilson, president and chief executive officer of Light & Wonder, said: “Our reported numbers continue to validate the investments that we’ve made in our business and demonstrate the significant progress we are making towards our long-term targets. Year to date, we delivered double-digit top and bottom-line growth across all three of our businesses, generated strong cash flows and reduced leverage, resulting in an exceptional second quarter.

“I am also pleased to share that Light & Wonder is expanding its global presence, with a successful ASX listing during the quarter that is gaining momentum with the investment community. We will continue to execute our core strategy and product roadmap, and look forward to sharing more with you at Australasian Gaming Expo in August and Global Gaming Expo in October.”

Connie James, chief financial officer of Light & Wonder, added: “I am proud to have been part of such a diverse and capable team, and of our many accomplishments during my time here as my tenure comes to an end at Light & Wonder. We accomplished a number of meaningful milestones in transforming the company and are now well-positioned with a healthy balance sheet and a strategic capital allocation plan.

“The continued growth we saw in the second quarter reflects the focused execution that is in our DNA. With a wealth of talent, sound financials, and an outstanding portfolio of assets, Light & Wonder continues to be in good hands moving forward as the leading cross-platform global games company.”

Light & Wonder has added content from the slot studio DreamSpin to its OpenGaming platform. The firm also expanded its multi-year global licensing deal with Warner Bros Discovery Global Themed Entertainment (WBDGTE). Light & Wonder’s in-house game development teams will offer titles through the OpenGaming ecosystem. Willy Wonka: World of Wonka game, which has been a physical slot machine for decades on casino floors, will be available online.