Welcome to our dedicated page for Light & Wonder news (Ticker: LNW), a resource for investors and traders seeking the latest updates and insights on Light & Wonder stock.
Light & Wonder, Inc. (symbol: LNW) is a leading name in the global lottery and regulated gaming industry. Since its inception, the company has been at the forefront of innovation, beginning with the breakthrough technology that launched the world’s first secure instant lottery game in 1974. Over the past four decades, Light & Wonder has been instrumental in advancing the games, technology, programs, marketing research, and security that drive success for more than 300 clients across six continents.
With a workforce of over 3,500 employees, Light & Wonder operates from advanced-technology manufacturing and operational facilities spanning North America, South America, Europe, Asia, and Australia. This global presence allows the company to meet diverse customer requirements efficiently and effectively.
Light & Wonder stands out as the industry's only full-service provider, offering a wide array of customizable products, technology, and services to meet the unique needs of various lottery and gaming jurisdictions. The company is recognized for its high-quality electronic gaming machines, which are sold to pubs, clubs, and casinos worldwide. It holds licenses in most global jurisdictions that permit gambling, securing its position as one of the top three players in the market alongside International Game Technology and Aristocrat Leisure.
Additionally, Light & Wonder has a significant presence in the mobile gaming sector through its subsidiary, SciPlay, which accounts for about one-fourth of its revenue. SciPlay focuses on developing and distributing casual mobile games, particularly in the social casino niche. The company's nascent iGaming business further complements its portfolio by offering digital content and capabilities to real-money gaming providers.
From its pioneering roots to its current projects and partnerships, Light & Wonder continues to be a driving force in the gaming industry, providing cutting-edge solutions and maintaining a robust financial condition. Stay updated with the latest news and developments from Light & Wonder to keep abreast of their performance and industry advancements.
Light & Wonder (NASDAQ: LNW) announced a new three-year $1 billion share repurchase program, replacing a prior $750 million program that concluded on June 13, 2024. The new program will run through June 12, 2027, and reflects confidence in continued strong business performance. The previous program repurchased 11.2 million shares at an average price of $66.72, a 28% discount to the current price of $92.35. CEO Matt Wilson highlighted the company's ongoing growth strategy and AEBITDA target of $1.4 billion for 2025. CFO Oliver Chow emphasized the financial flexibility and value creation potential of the new repurchase program.
Light & Wonder, Inc. (NASDAQ and ASX: LNW) reported a 13% year-over-year revenue growth in the first quarter of 2024, driven by strong gaming machine sales and record SciPlay and iGaming revenue. The company's consolidated revenue reached $756 million, with net income of $82 million and strong cash flow generation. The principal face value of debt outstanding was $3.9 billion, translating to a net debt leverage ratio of 3.0x. Light & Wonder returned $25 million of capital to shareholders through a share repurchase program. The company's financial highlights included a 13% increase in consolidated AEBITDA, an adjusted NPATA of $105 million, and free cash flow of $93 million. Gaming revenue grew by 14%, SciPlay revenue by 11%, and iGaming revenue by 14%. Gaming operations led the revenue growth, while SciPlay achieved record revenue levels. iGaming revenue reflected continued momentum in the U.S. and international markets. Capital expenditures in the first quarter were $66 million.
FAQ
What is the current stock price of Light & Wonder (LNW)?
What is the market cap of Light & Wonder (LNW)?
What is Light & Wonder, Inc.?
What does Light & Wonder, Inc. specialize in?
How is Light & Wonder, Inc. positioned in the market?
Where does Light & Wonder, Inc. operate?
What is SciPlay?
What is iGaming?
How many employees does Light & Wonder, Inc. have?
What makes Light & Wonder's products unique?
When was the first secure instant lottery game launched?
Why should investors follow Light & Wonder, Inc.?
