Light & Wonder has reported a substantial 78 per cent increase in quarterly net income, reaching $US114 million. The surge was primarily driven by robust performance in its gaming operations and record revenue from its iGaming segment. The company is a global gaming company focused on creating games, systems, and services for casino, social and mobile gaming markets. It aims to deliver seamless experiences for players across various platforms.
Consolidated revenue for the quarter rose by 3 per cent to $US841 million. Adjusted net profit after tax also saw significant growth, climbing 25 per cent to $US153 million. The company’s gaming revenue increased by 4 per cent to $US558 million. A key factor was a 38 per cent rise in gaming operations, which included an additional $US40 million from its Grover charitable gaming arm.
The company’s North American premium installed base has expanded for the 21st consecutive quarter, with Grover adding 229 units. This consistent growth reflects the strong demand for Light & Wonder’s gaming products and services in the North American market.
Chief executive Matt Wilson commented that the group’s transition to a single primary listing on the ASX is progressing as planned. This move is expected to simplify the company’s structure and enhance its visibility within the Australian market, which is heavily focused on the gaming industry.
