United States Gaming supplier Light & Wonder has achieved its 11th consecutive quarter of revenue growth.
Light & Wonder has reported results for the Q4 and the year ended December 31. In the fourth quarter, gaming revenue was $496 million. This is up to 13 per cent compared to the previous year period. Gaming machines sales rose by 31 per cent globally.
SciPlay revenue reached $204 million. This is a 12 per cent increase from the prior year period. iGaming revenue increased 13 per cent to $70 million. Full-year revenue increased 16 per cent amounting to $2.9 billion.
Matt Wilson is the president and chief executive officer of Light & Wonder. He said that 2023 was a banner year for Light & Wonder. Their businesses delivered double-digit growth across the board throughout the year, enabled by strategic investments and strong execution. They consistently leverage a differentiated product strategy and plan to capitalize on the significant growth opportunities ahead of them.
Meanwhile, Oliver Chow is the chief financial officer of Light & Wonder. He added that they continue to see healthy trends in the business and were able to capitalize on many of the opportunities presented to them in 2023 to deliver strong top-and bottom-line growth, both in the quarter and for the full year. Their teams continued to deliver quality earnings with improved metrics over the course of 2023. Moving forward, they will focus on driving sustainable growth and executing against their balanced and opportunistic capital allocation strategy with discipline, driving value for all stakeholders.
Light & Wonder announced that it will manage the Michael J Gaughan Airport Slot Concession slot floors with its systems solutions. This is in Harry Reid International Airport, Las Vegas. The firm’s solution will go live in the second quarter, replacing the airport’s existing solution for over 1,100 slot machines across multiple terminals.
