Light & Wonder posts $438m in gaming revenue for Q4 2022
The supplier said its growth during the year was due to continuing business momentum.
Light & Wonder has published its financial results for both the fourth quarter and the 2022 fiscal year.
During Q4, gaming revenue grew by 18% when compared to the prior-year period’s results and rose to $438m.
Revenue from SciPlay climbed to $182m, reflecting an 18% boost year-over-year and its highest quarterly revenue on record.
Fourth-quarter iGaming revenue and adjusted EBITDA increased as well, growing by 15% and 27% respectively.
The company reported double-digit topline growth for the fiscal year and attributed the spikes to “continued momentum across our businesses and continuing expansion in high-return markets.”
Consolidated revenue for 2022 increased by 17%, according to the financial report.
Company President and CEO Matt Wilson attributed the year’s success to the company’s team, along with its games and technology.
He said: “2022 was a pivotal year for Light & Wonder. 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.”
Group CFO Connie James voiced similar sentiments and added that the year’s results have set the company on a stable foundation for future growth.
James commented: “We are proud of the tremendous and rapid progress we have made over the past 18 months. We delivered quality earnings, setting the foundation for sustainable growth going forward as we continue to focus on delivering shareholder value.”
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