Light & Wonder reports 12% revenue growth for Q2

The company registered $818m in revenue for the second quarter.

US.- Light & Wonder has published its Q2 2024 financial results, showing a 13th consecutive quarter of year-over-year revenue growth. Consolidated revenue was $818m, a 12 per cent increase compared to the prior year.

Gaming revenue was $539m, up 14 per cent compared to the prior year period. Gaming machine sales growth increased 32 per cent. SciPlay revenue grew to $205m, an 8 per cent increase from the prior-year period, driven by the social casino business. Igaming revenue grew to $74m, up 6 per cent.

Matt Wilson, president and chief executive officer of Light & Wonder, said: “Light & Wonder continues to capitalize on opportunities underpinned by our scale and diversified product offerings as demonstrated through the growth momentum across the business. We saw strong progress in the Gaming business as the expansion of units in the North American installed base reached an inflection point. Our global presence enables further product refinement and market penetration with our suite of games and casino solutions.”

Oliver Chow, chief financial officer of Light & Wonder, added: “Our 13th consecutive quarter of consolidated revenue growth once again reflects the strength of our combined business and solid financial profile. We continue to see improved earnings quality with consistent growth and healthy margins, all while investing back into the business to scale for the future. The new $1.0bn share repurchase program is a testament to the value we see in the business and confidence in our ability to execute to plan over the long term. We believe we will continue to create significant value for our shareholders through enhanced cash flow generation initiatives while delivering on our financial targets.”