Light & Wonder reports $817m in consolidated revenue for Q3 2024
The increase in revenue represents the ninth consecutive quarter in which the company has reported double-digit growth year-over-year.
Key Points
- While consolidated AEBITDA increased by 11.5% from the prior year period, Light & Wonder reported a decrease in net income by 20% year-over-year
- The company’s gaming, SciPlay and iGaming sectors all saw increases in revenue from what was reported during the third quarter of 2023
Light & Wonder has announced financial results for the company’s performance throughout the third quarter of 2024, reporting an increase in consolidated revenue as well as consolidated AEBITDA. Despite the increases, however, the company did see a 20% decrease in net income from the prior year period for a total of $64m during Q3 2024.
The company stated that the decrease in net income was primarily due to higher restructuring and other costs related to “certain legal matters.”
Consolidated revenue managed to increase by 12% year-over-year, reported to be $817m throughout the third quarter of 2024. Light & Wonder’s consolidated AEBITDA increased by 11.5% from the prior year period to be $319m during Q3 2024.
The double-digit increase in consolidated revenue represents the ninth consecutive quarter in which Light & Wonder has been able to do so.
Good to know: Light & Wonder announced that it signed a multi-year partnership with Sky Dancer Casino in Belcourt, North Dakota on November 4
“Our results once again reflect the relentless collective efforts of the talent across our organization underpinned by our robust and scalable R&D platform. At G2E and AGE, we showcased a wide array of products that demonstrated the diversity and strength of our portfolio and franchises,” Light & Wonder President and CEO Matt Wilson said.
“We will continue to execute on our cross-platform strategy focused on innovative content and products as a leading global end-to-end gaming technology solutions provider. Our team is committed and engaged as we stay on course through the execution chapter of our journey to reach our target.”
Gaming revenue accounted for $537m of the total revenue reported, an increase of 15% from the prior year period. SciPlay and iGaming revenues were reported to be $206m and $74m, year-over-year increases of 5% and 6%, respectively.
Tags/Keywords
Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.
Latest News
