Light & Wonder has announced a 12 percent yearly increase in third-quarter revenue, reaching $817 million, according to its most recently released financial results.
Despite the revenue increase, net income fell from $80 million to $64 million (yearly), due to restructuring costs and ‘certain legal matters’. The group is still working to mitigate issues relating to litigation around its Dragon Train title in the United States.
Gaming revenue during the period increased by 15 percent, to $537 million, with AEBITDA from the segment up 14 percent yearly to $235 million.
Gaming machine sales were up 38 percent yearly, with particular success seen from the COSMIC and KASCADA cabinets.
SciPlay revenue rose by 5 percent yearly, to $206 million, while AEBITDA for the segment was up 8 percent, to $61 million. The group notes that growth ‘was primarily driven by the social casino business, which continued to deliver consistently high player engagement and monetization’.
iGaming revenue rose by 6 percent yearly, to $74 million, despite a 4 percent contraction in AEBITDA, to $25 million. The group notes that ‘revenue growth for the period reflected continued momentum in North America and Europe as well as strong content launches’.
Speaking of the results, Matt Wilson, President and CEO, noted “Our results once again reflect the relentless collective efforts of the talent across our organization underpinned by our robust and scalable R&D platform”.
