Light & Wonder Achieves Robust Financial Performance In 2024 Amid Strategic Acquisitions And Product Expansion
$LNW
Light & Wonder Inc. (NASDAQ:LNW) has reported a significant financial upswing for the fiscal year 2024, marked by strategic acquisitions and an expanded product portfolio. The company, a renowned player in the gaming and digital entertainment sector, showcased a 10% year-over-year revenue increase, totaling $3.2 billion. This growth is attributed to sales across its gaming machines and digital platforms, coupled with strategic expansions in both North American and Australian markets.
The company’s net income saw an increase, doubling from the previous year to $336 million, with earnings per share (EPS) rising to $3.68 from $1.75 in 2023. This leap in profitability reflects Light & Wonder’s strategy in enhancing its product offerings and penetrating new market segments.
Notably, the gaming segment contributed significantly, with a 12% revenue increase driven by market share gains and innovative product launches. The company’s iGaming and SciPlay segments also reported strong performance, with iGaming revenue up by 9% year-over-year, driven by high demand in North America and Europe.
In a strategic move to diversify its revenue streams and fortify its market position, Light & Wonder announced the acquisition of Grover Gaming’s charitable gaming business. This $850 million acquisition is aligned with the company’s goal to expand its footprint in the regulated gaming sector and is expected to be accretive to earnings and cash flow.
Throughout 2024, Light & Wonder focused on operational enhancements and market expansion strategies. The company added over 850 units to its North American gaming operations on a sequential basis, marking significant growth in its installed base. This expansion is part of a broader strategy to leverage its innovative gaming solutions and enhance player engagement across key marketsSciPlay maintained robust engagement levels, with revenue increasing by 6% to $821 million, outpacing the growth of the broader social casino market.
Looking ahead to 2025, The company anticipates low double-digit growth in consolidated AEBITDA for the first quarter of 2025, driven by its diversified business model and market presence. The company continues to invest in environmentally sustainable practices and maintains high standards of integrity and player responsibility across its operations. As Light & Wonder continues to evolve and adapt to market demands, it remains a significant player in the global gaming landscape.
**DISCLAIMER: THIS CONTENT IS FOR INFORMATIONAL PURPOSES ONLY AND SHOULD NOT BE INTERPRETED AS INVESTMENT ADVICE. INVESTING INVOLVES RISK, INCLUDING THE POTENTIAL LOSS OF PRINCIPAL. READERS ARE ENCOURAGED TO CONDUCT THEIR OWN RESEARCH AND CONSULT WITH A QUALIFIED FINANCIAL ADVISOR BEFORE MAKING ANY INVESTMENT DECISIONS.**