Light & Wonder reports 18% year-on-year revenue increase for Q4 2022

Light & Wonder has reported its financial results for the fourth quarter and full year 2022.

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The company noted that gaming revenue for the quarter increased by 18% year-on-year to $438m, primarily driven by robust gaming machine sales growth of 41% and continued strong momentum in gaming operations, systems and tables.

SciPlay revenue for the period rose to its highest quarterly revenue ever, climbing by 18% year-on-year to $182m. And Q4 2022 iGaming revenue climbed by 15% year-on-year, with AEBITDA growing 27% year-on-year, reflecting continued growth momentum in the US market.

For the full year 2022, Light & Wonder delivered double-digit topline growth driven by continued momentum across its businesses and continuing expansion in high-return markets.

“2022 was a pivotal year for Light & Wonder,” said Light & Wonder President and CEO Matt Wilson. “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.”

Light & Wonder CFO Connie James added: “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.

“We also returned significant capital to our shareholders, totalling $413m since our share repurchase programme was announced a year ago. We now have a strong balance sheet and clear roadmap to advance with discipline on our balanced and opportunistic capital allocation strategy and elevate Light & Wonder’s value proposition.”

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