Global gaming supplier Light & Wonder has announced net income of US$67 million in the three months to 31 December 2023, up from US$21 million in 4Q22 on the back of an 11th straight quarter of year-on-year revenue growth.
Adjusted EBITDA also grew by 14% year-on-year to US$302 million.
According to the company’s financials, released Wednesday morning (Asia time), 4Q23 revenue climbed to US$770 million with double-digit growth across all business segments.
This included a 13% increase in gaming revenue to US$496 million on “robust” gaming machine sales growth – up 31% year-on-year – and strong momentum in gaming operations. SciPlay revenue grew by 12% to US$204 million, a new quarterly revenue record, thanks to the core social gaming business, while iGaming revenue grew 13% to US$70 million.
FY23 consolidated revenue grew by 16% to US$2.9 billion with Adjusted EBITDA of US$1.1 billion and net income of US$180 million.
“2023 was a banner year for Light & Wonder,” said the company’s President and CEO, Matt Wilson.
“Our business delivered double digit growth across the board throughout the year, enabled by strategic investments and strong execution. We consistently leverage a differentiated product strategy and plan to capitalize on the significant growth opportunities ahead of us.
“I am thrilled with the momentum we continue to see in the business, and with our winning mentality, experience and talent in place we are well positioned to continue our growth trajectory. I want to congratulate our team on a successful year and know the best is yet to come.”
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