Light & Wonder Q3 2024 financial results

Light & Wonder, Inc. (ASX: LNW) has released its financial results for the third quarter ending September 30, 2024. The company achieved its ninth consecutive quarter of double-digit consolidated revenue growth, with a 12% year-over-year increase. However, net income fell to $64 million from $80 million in the previous year due to higher restructuring and other costs.

Light & Wonder's strategic outlook and ambitions

Light & Wonder, Inc. (ASX: LNW) reported robust financial results for Q3 2024, with a 12% increase in consolidated revenue, reaching $817 million. The growth was bolstered by a 15% rise in gaming revenue, driven by increased global gaming machine sales and strong North American operations. The SciPlay and iGaming divisions also contributed positively, with revenue increases of 5% and 6%, respectively. Despite these gains, net income decreased to $64 million due to higher restructuring costs. The company is committed to achieving a $1.4 billion consolidated AEBITDA target for FY 2025 while maintaining a net debt leverage ratio within their targeted range. Future strategies focus on innovation, research and development, and cross-platform growth to solidify Light & Wonder's position as a leading global gaming technology solutions provider.

Executive insights on Q3 performance

We are pleased to report another quarter of strong performance driven by our diversified businesses. Our gaming segment continues to perform exceptionally well, underscoring the strength of our portfolio and market presence. We remain focused on executing our strategy to drive growth and shareholder value.