In the first quarter of 2024, Light & Wonder marked significant growth in consolidated revenue and net income, with consolidated revenue reaching $756m, a 13% increase compared to the prior-year period. Net income soared to $82m, compared to $27m in the previous year, driven by higher revenue and robust margins, as well as reduced depreciation and amortisation (D&A) and restructuring costs.
This growth was attributed to strong performance across all lines of business, with key highlights in gaming revenue, SciPlay and iGaming.
Gaming revenue led the way with a 14% increase compared to last year, rising to $476m, driven by global growth in gaming machine sales by 30% and gaming systems by 9%.
SciPlay represented an 11% increase from the prior year with $206m, having achieved its highest ever AMRPPU of $113.93, resulting in a 13% year-over-year increase in ARPDAU to $1.01 while retaining payer conversion above 10%.
IGaming revenue reached a quarterly record of $74m, marking a 14% increase from the prior year period, with wagers processed through the iGaming platform totaled $22.4bn in the first quarter.
These key highlights underscore the company's strong performance across its business segments, driven by continued revenue growth, strategic investments, and successful product launches.
For historical details, please read this report on L&W’s year 2023 results of the same time period.
