Global gaming giant Light & Wonder reported an 18% increase in revenues and 23% increase in consolidated Adjusted EBITDA in 4Q22, aided by strong gains in its gaming and SciPlay segments.
However net income fell from US$62 million a year earlier to US$21 million due to a deferred tax benefit in 4Q21.
Revenue for the December 2022 quarter reached US$682 million, up from US$580 million thanks largely to an 18% increase in gaming revenues to US$438 million. SciPlay revenues also jumped 18% to US$182 million while iGaming was up 15% to US$62 million.
Group-wide Adjusted EBITDA reached US$265 million.
For FY22, Light & Wonder’s revenues climbed by 17% to US$2.51 billion, including a 21% gain in gaming to US$1.60 billion. SciPlay increased by 11% to US$671 million and iGaming by 6% to US$240 million.
Adjusted EBITDA also saw a 15% improvement to US$913 million, although the company reported a net loss of US$176 million in 2022 due to a US$147 million loss on debt financing transactions.
“2022 was a pivotal year for Light & Wonder,” said President and CEO, Matt Wilson.
“We delivered on an ambitious and transformative plan while driving operational success and double-digit growth in our business.
“We are excited about our future and see strong momentum continuing in the business in the year to come. Our industry leading talent, games and technology put us in a strong position to deliver on our product roadmap, capitalize on the enormous opportunities ahead and lead in the convergence of gaming.”
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