Light & Wonder Reports $3.2 Billion in 2024 Revenue Amid Strategic Growth Moves

Australia. Additionally, gaming systems revenue saw a 13% boost, while North American gaming operations grew 4%.

Strategic Portfolio Adjustments and Market Expansion

As part of its ongoing efforts to optimize its business, Light & Wonder announced plans to exit the live-dealer gaming segment. CFO Oliver Chow stated that this divestiture would provide “a modest uplift” to cash flow. The decision aligns with the company’s broader strategy to focus on high-margin, revenue-generating sectors.

CEO Matt Wilson emphasized the company’s momentum, stating, “The Gaming machine sales share gains in North America and Australia this year are a testament to our R&D investment, commercial strategy, and robust product roap.”

Light & Wonder has continued to expand its development capabilities by hiring additional talent and enhancing its studios.

Further strengthening its market presence, the company announced the acquisition of Grover Gaming’s charitable business for $850 million. The deal, which is expected to close in Q2 2025 pending regulatory approvals, will expand Light & Wonder’s distribution network in regulated land-based markets, particularly in the electronic pull-tab sector.

Strong Financial Performance and Shareholder Returns

In addition to revenue growth, Light & Wonder improved its financial foundation, reporting a principal face value of debt at $3.9 billion while maintaining a net debt leverage ratio between 2.5x and 3.5x. The company also amended its credit agreement to enhance financial flexibility and reduce costs related to revolving loans.

Light & Wonder returned $462 million to shareholders in 2024 through stock repurchases, completing 29% of its authorized $1 billion buyback program. Notably, $243 million in shares were repurchased during Q4 alone.

Q4 2024 Results Highlight Continued Growth

In the fourth quarter of 2024, the company posted consolidated revenue of $797 million, reflecting a 4% year-over-year increase. Gaming revenue grew 4% to $515 million, ed by higher unit sales and system upgrades. SciPlay generated $204 million in revenue, maintaining engagement and monetization rates, while iGaming revenue climbed 11% to $78 million due to stronger content launches and platform adoption.

Overall, Light & Wonder’s full-year operating income rose 29% to $668 million, and adjusted EBITDA increased 11% to $1.24 billion. Free cash flow stood at $318 million, reinforcing the company’s ability to fund strategic investments and shareholder returns.

As the company nears the second anniversary of its secondary listing on the Australian Securities Exchange (ASX), it remains committed to enhancing liquidity and market capitalization. Board Chair Jamie Odell noted, “The ASX is a premier exchange with a strong history of ing global gaming companies.”

Looking ahead, Light & Wonder remains focused on growth through product innovation and cross-platform expansion. The company is targeting an adjusted EBITDA of $1.4 billion by 2025 and expects low double-digit consolidated adjusted EBITDA growth in Q1 2025. Additionally, its recent entry into Brazil’s iGaming market with 50 new game titles underscores its push for global expansion.

Despite challenges such as legal disputes surrounding its Dragon Train-themed games, which led to distribution restrictions in North America, Light & Wonder successfully replaced 95% of impacted units with alternative products. The company also remains optimistic about the demand for slot machines, citing strong performance in revenue-sharing games.

CEO Matt Wilson reaffirmed confidence in the company’s direction, stating, “Gaming continues to deliver exceptional results… I’m encouraged and expect gaming operations to return to robust growth in 2025.” CFO Oliver Chow echoed this sentiment, emphasizing the company’s strong financial position and high product demand.

With a solid financial footing, strategic acquisitions, and ongoing expansion efforts, Light & Wonder is poised for sustained growth in the coming years.

Source:

‘’Light & Wonder Hits $3.2B Revenue in 2024, Divests Live Dealer Games’’, worldcasinodirectory, February 26, 2025.

‘’Light & Wonder, Inc. Reports Fourth Quarter and Full Year 2024 Results’’, explore.lnw.com, February 25, 2025.