Good morning. Results continue to flood in, bringing with them much Light & Wonder. The company saw a strong finish to 2024, marking its 15th consecutive quarter of revenue growth, which topped out at $797 million, boosting its FY24 revenue to nearly $3.2 billion, with strong performance in gaming. Meanwhile, IGT saw a slight contraction in 4Q24 revenue, but still registered its second-highest performance on record. Looking at the Philippines, Moody’s warns that the removal from the FATF grey list doesn’t mean the country has solved all its problems, particularly looking at crypto and online gaming. And in Macau, MGM China is going after a $2 billion loan, as it aims to maintain its growth.
What you need to know
- Light & Wonder delivers 15th consecutive quarterly growth in revenue, with FY24 revenue nearing $3.2 billion.
- IGT recorded its second-highest quarterly revenue on record in 4Q24, despite seeing a slight yearly contraction.
- Moody’s warns online gaming/crypto still pose risks post-Philippines’ FATF exit, requiring sustained regulatory focus.
- MGM China is pursuing a $2 billion loan, primarily for refinancing existing debt and maintaining financial flexibility amidst a period of growth.
On the radar
- Marina Bay Sands secures $9B loan for the expansion plan.
- One-quarter of the $821M lost to scams in Singapore in 2024 involved crypto.
- PAGCOR warns that fraudsters are impersonating its Chairman and President.
- Sri Lanka cancels casino service counter tender at Colombo Airport.
- Ainsworth Game Technology reverses profit loss in 2024, despite drop in revenue.
- Reef Casino Trust announces trade halt following ownership change speculation.
- Philippine National Police intensifies crackdown on illegal POGOs.
- International Gaming Standards Association elects 2025 Board of Directors.
AGB Intelligence
RESULTS
Light & Wonder tallies 15th quarter of consecutive revenue growth
Light & Wonder saw a strong fourth quarter, further boosting its full-year results. The group recorded its 15th consecutive quarter of yearly revenue growth, topping out at $797 million. Gaming revenue was up by 4 percent, despite a slight drop in gaming machine sales. Overall, the year was impressive, with nearly $3.2 billion in revenue, with the group now considering further listings on the Australian Securities Exchange.
Industry Updates
- MGM partners with Thailand EM District to enhance Macau’s MICE tourism.
- Continent 8 opens Missouri’s data center, boosting online sports betting.
- CreedRoomz takes certified live casino games to SBC Summit Rio 2025.
Corporate Spotlight
1xBet’s 2024 Milestones: key achievements & heights of success
In 2024, 1xBet achieved significant breakthroughs and successes, solidifying its position in the iGaming industry. The brand secured major partnership deals, received prestigious awards, and showcased its innovations at the world’s leading forums.
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