Light & Wonder reports all-time high in consolidated revenue with $3.2bn during FY2024

Light & Wonder has reported its financial results for both Q4 2024 and full year (FY), achieving an all-time high in consolidated revenue by generating $3.2bn during FY2024, representing an increase of 10% year-over-year. 

“We ended a strong 2024 with continued double-digit revenue and earnings growth for the year. 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 roadmap,” Light & Wonder CEO Matt Wilson said. 

“Our recently announced strategic acquisition of Grover Gaming’s charitable business enhances our cross platform strategy and presence in regulated land-based markets, giving us a broader distribution base for our vast content library and accelerating our drive for sustainable future growth.”

Throughout FY2024, the company’s gaming segment increased its revenue by 12% from the prior year period for a reported total of $2.1bn. The SciPlay segment grew by 6% year-over-year to account for $821m of revenue during FY2024, while iGaming managed to generate $299m for an increase of 9% from the prior year period. 

Due to the positive results for Light & Wonder, the company reported a net income of $336m during FY2024, increasing by 86.7% year-over-year. 

Operating income for Light & Wonder during FY2024 was reported to be $668m, representing an increase of 29% year-over-year while consolidated EBITDA grew by 11% for a total of $1.2bn throughout the period.

Good to know: Nathan Drane was promoted to the role of Chief Product Officer for Light & Wonder on February 11, having most recently served as CPO of the company’s gaming sector

During the fourth quarter of 2024, consolidated revenue increased by 4% from the prior year period to $797m, primarily driven by gaming revenue which also grew by 4% year-over-year for a total of $515m. SciPlay generated an equivalent $204m from the prior year period, while iGaming increased by 11% to account for $78m of revenue during Q4 2024. 

Net income for Q4 2024 was reported to be $107m, equating to an increase of 59.7% from the prior year period, as consolidated EBITDA grew by 4% for a total of $315m throughout the period. 

On February 18, Light & Wonder entered into a definitive agreement to acquire the charitable gaming assets of Grover Gaming for a total consideration of $850m cash.

Once the transaction is complete, which is anticipated for the second quarter of 2025, employees from both Grover Gaming and Light & Wonder will occupy the business.

Kirk Geller

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