Light & Wonder has delivered yet another strong quarter, marking its 13th consecutive period of yearly revenue growth and its eighth consecutive quarter of double digit revenue growth.
During the second quarter, gaming revenue topped $530 million – a 14 percent yearly increase, while overall revenue reached $818 million – up 12 percent yearly, and net income hit $130 million – up 40 percent.
Gaming machine sales increased by 32 percent, to $228 million, while gaming systems operations were up 15 percent, to $82 million. Table products revenue fell by 8 percent yearly, to $54 million. Gaming operations revenue was up 5 percent yearly, to $175 million.
The group notes that it ‘achieved robust growth in International Gaming Machine Sales, notably in Asia as well as Australia where we maintained the #1 ship share’.
The group also saw its Gaming segment’s AEBITDA rise by 17 percent yearly due to the revenue growth, reaching $272 million.
International unit shipments rose by some 33 percent yearly, to over 5,500 units, ‘driven by sustained strength in Australia and replacement sales in Macau’.
The group notes that North American replacement units rose by 16 percent yearly, to roughly over 5,800 units, ‘primarily driven by ongoing expansion in adjacencies, including Canada and Oregon VLTs (video lottery terminals), HHR (historical horse racing), and Georgia COAM (coin operated amusement machines’.
The group’s SciPlay arm also saw revenue rise by some 8 percent, driven by four primary titles, hitting $205 million and achieving a 19 percent yearly rise in AEBITDA, to $70 million, due to ‘continued monetization and engagement across key metrics delivering solid performance’.
In iGaming, the 6 percent yearly increase in revenue, to $74 million, was ‘primarily driven by continued momentum in the US’, with US and Canada OGS (OPENGAMING System) GGR up by 25 percent due to ‘market growth and increased volume of land-based content’. This marked a record quarter in the US.
The segment’s AEBITDA was flat, at $24 million.
Commenting on the results on Thursday, Matt Wilson, President and CEO of Light & Wonder, noted “These great results not only reflect the strength of our business but are a testament to the strength of our people at Light & Wonder. When you focus on building the best teams, those teams build the best games.”
