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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, Inc. (NASDAQ: LNW) announced its financial results for the first quarter of 2023 will be released on May 9, 2023, after market close. A conference call to discuss these results will take place on the same day at 4:30 p.m. Eastern Time. Pre-registration for participants is encouraged, allowing immediate access to the call. Callers can dial in at US Toll Free: +1 (833) 470-1428 or International: +1 (204) 525-0658 with Conference ID: 348332.
Additionally, the webcast will be accessible via the Company's website, and a replay will be available about one hour after the call and archived for later access. Investors can contact Investor Relations at +1 (702) 532-7614 for further inquiries.
Light & Wonder (NASDAQ: LNW) announced its evaluation of a potential secondary listing on the Australian Securities Exchange (ASX) to enhance shareholder value and market presence. The Board sees significant benefits, including greater visibility in Australia, a key market for its gaming business, and access to Australian institutional investors to complement its US shareholder base. Executive Chair Jamie Odell emphasized the ASX's reputation as a premium market for gaming companies. However, there is no guarantee that the Company will pursue this listing, with further updates expected after the evaluation process.
Light & Wonder reported an 18% revenue growth in Q4 2022, totaling $682 million, and a 17% increase for the full year, reaching $2.5 billion. Gaming revenue surged 18% to $438 million, driven by a 41% increase in Gaming machine sales. SciPlay set a record with $182 million in revenue, marking an 18% growth, while iGaming revenue rose 15%.
Despite these gains, net income fell to $21 million from $62 million year-over-year, leading to a full-year net loss of $176 million. The company returned $413 million to shareholders through share repurchases this year and maintained a net debt leverage ratio of 3.3x.
Light & Wonder, Inc. (NASDAQ: LNW) will release its financial results for the fourth quarter and the year ended December 31, 2022 on March 1, 2023, after market close. The Company will host an investor conference call and webcast at 4:30 p.m. Eastern Time the same day to discuss the results. Participants can pre-register for the call to receive a conference passcode. The call will be accessible via Light & Wonder's website, with a replay available afterward. Interested investors can also dial in directly using the provided numbers for the US and international calls.
Light & Wonder (NASDAQ: LNW) announces the launch of Wonder 500™, a new gaming product developed in-house, aimed at enhancing player engagement in the UK market. This product responds to operator feedback and regulatory changes, featuring a £2 maximum stake and up to 500x win potential. It will be exclusive to Sky Betting & Gaming with titles like Mighty Black Knight™, Spartacus™, and Rod & Annette Go Fishing™ launching this month. The company aims to adapt to shifting player dynamics and regulatory challenges while promoting responsible gaming.
Light & Wonder (NASDAQ: LNW) has partnered with Sightline Payments to introduce a cashless gaming solution at Parx Casino in Bensalem, Pennsylvania. This initiative, featuring the Parx Wallet app and Play+ funding solution, enables seamless cashless transactions for over 3,000 slot machines and table games. Customers can easily access funds on and off property, enhancing safety and convenience. The partnership aims to transform the gaming experience and supports Light & Wonder's commitment to innovative technology in the gaming industry.
Light & Wonder, Inc. (NASDAQ: LNW) reported a 20% year-over-year revenue growth of $648 million for Q3 2022, driven by strong performance in its Gaming and iGaming sectors. The company completed the sale of its Sports Betting business for $800 million, significantly improving its balance sheet with a net debt leverage ratio of 3.1x. However, net income fell to $20 million from $100 million in the prior year due to tax benefits in 2021. Light & Wonder returned $241 million to shareholders via share repurchases, reflecting 32% of total authorization.
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