Global gaming supplier Light & Wonder has reported revenue of US$756 million for the three months to 31 March 2024, up 13% year-on-year on double-digit growth across all business segments.
In what was the 12th consecutive quarter of year-on-year consolidated revenue growth, Q1 saw gaming revenue increase by 14% to US$476 million, primarily driven by 30% growth in global gaming machine sales plus improvement across gaming operations and gaming systems.
SciPlay , Light & Wonder’s social gaming arm, saw revenue grow to a quarterly revenue record of US$206 million, up 11% from the prior year period, while iGaming revenue increased by 14% to another quarterly revenue record of US$74 million, primarily reflecting continued momentum in the U.S. and international markets.
Net income attributable to Light & Wonder grew by 273% to US$82 million while Adjusted EBITDA was up 13% to US$281 million.
Light & Wonder President and CEO Matt Wilson said, “Our strong momentum continued into 2024 across the business with our compelling global product offerings driving Game Sales growth in North American adjacent markets and in international markets led by Australia and Asia.
“SciPlay and iGaming both reached record revenue levels yet again with consistent double-digit year-over-year growth. The performance in the quarter validates our execution plan and we expect growth to be further enhanced by key hardware and content launches in both our land-based and digital markets throughout the year.
“Our differentiated product roadmap and targeted commercial strategy enable us to capitalize on growth opportunities beyond our solidified core businesses. We will continue to execute on our initiatives to deliver sustainable growth underpinned by our robust product portfolio and world-class talent.”
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