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Light & Wonder, Inc. Reports Second Quarter 2024 Results
Light & Wonder, Inc. reported results for the second quarter ended June 30, 2024.
We maintained strong momentum in the second quarter, delivering an 8th consecutive quarter of double-digit consolidated revenue growth year-over-year, and continued execution on our diverse content roadmap and cross-platform strategy. Consolidated revenue grew 12%, driven by continued strong performance across all our businesses, resulting in robust earnings growth:
- Gaming revenue increased to $539 million, up 14% compared to the prior year period, primarily driven by global Gaming machine sales growth, which increased 32%, coupled with record Gaming operations unit expansion in the North American installed base and growth across Gaming systems, resulting in AEBITDA growth and margin expansion of 17% and 100 basis points, respectively.
- SciPlay revenue grew to $205 million, an 8% increase from the prior year period, driven by the social casino business, which continues to outpace the market and gain share on strong payer metrics, while growing our direct-to-consumer platform and expanding AEBITDA margin by 300 basis points.
- iGaming revenue grew to $74 million, a 6% increase from the prior year period, primarily reflecting continued momentum in North America, while the prior year benefited from $2 million in license termination fees.
First half 2024 consolidated revenue increased 13% to $1.6 billion as we continued advancement towards our long-term financial targets and returned $175 million to our shareholders through share repurchases.
Matt Wilson, President and Chief Executive Officer of Light & Wonder, said, “Light & Wonder continues to capitalize on opportunities underpinned by our scale and diversified product offerings as demonstrated through the growth momentum across the business. We saw strong progress in the Gaming business as the expansion of units in the North American installed base reached an inflection point. Our global presence enables further product refinement and market penetration with our suite of games and casino solutions. We continue to develop our catalog of proven, evergreen franchises to bring the most engaging experiences to our players, leveraging the power of our portfolio across land-based, social and iGaming platforms. The uplift that we have continued to see across the business is a testament to the quality of the talent and culture in our organization. I am pleased with the continued momentum that we are seeing and know that the best is yet to come.”
Oliver Chow, Chief Financial Officer of Light & Wonder, added, “Our 13th consecutive quarter of consolidated revenue growth once again reflects the strength of our combined business and solid financial profile. We continue to see improved earnings quality with consistent growth and healthy margins, all while investing back into the business to scale for the future. The new $1.0 billion share repurchase program is a testament to the value we see in the business and confidence in our ability to execute to plan over the long-term. We believe we will continue to create significant value for our shareholders through enhanced cash flow generation initiatives while delivering on our financial targets.”
LEVERAGE AND CAPITAL RETURN UPDATE
- Principal face value of debt outstanding(1) was $3.9 billion, translating to a net debt leverage ratio(2) of 3.0x as of June 30, 2024. Our net debt leverage ratio(2) decreased by 0.1x from December 31, 2023, and remained within our targeted net debt leverage ratio(2) range of 2.5x to 3.5x.
- Returned $175 million of capital to shareholders through the repurchase of approximately 1.8 million shares of L&W common stock during the first half of 2024 and completed the full $750 million share repurchase authorization. Under the initial share repurchase program, we purchased 11.2 million common shares, or 11.6% of shares outstanding at the inception of the program on March 1, 2022. The average purchase price of $66.72 per share represents a 34% discount to yesterday’s closing price of $100.71. In June 2024, the Board of Directors approved a new three-year share repurchase program(3) of up to $1.0 billion of the Company’s outstanding common stock through June 12, 2027.
- Repriced our Term Loan B again in July 2024, reducing our interest rate by 50 basis points resulting in a decrease in annualized interest costs of approximately $11 million, or $19 million in annualized interest costs reduction including our January repricing.
(1) Principal face value of debt outstanding represents outstanding principal value of debt balances that conform to the presentation found in Note 10 to the Condensed Consolidated Financial Statements in our March 31, 2024 Form 10-Q.
(2) Additional information on non-GAAP financial measures presented herein is available at the end of this release.
(3) The program may be conducted via open market repurchases, privately negotiated transactions, including block trades, accelerated share repurchases, issuer tender
offers or other derivative contracts or instruments, “10b5-1” plans, or other financial arrangements, and may be suspended or discontinued at any time.
N1 Partners has just launched a new campaign for its flagship brand – N1 Bet. Until the end of November partners can boost their payouts by up to +7% when driving traffic to two key Tier-1 GEOs: Australia and Germany.
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Reading Time: 2 minutes
SOFTSWISS, an international technology provider with over 15 years in the iGaming sector, has partnered with South African entities for the Responsible Gambling Summit 2025, reinforcing its commitment to safe, sustainable play in one of its key growth regions. The two-day summit, organised by the South African Responsible Gambling Foundation, brings together regulators, operators, and experts to advance harm minimisation and industry collaboration.
The Responsible Gambling Summit 2025 will take place from 13 to 14 November in Johannesburg, South Africa, and will include an awards gala dinner recognising initiatives in safer gambling. The programme spans policy, compliance, innovation, and public education, with sessions on illegal market impacts, regulatory development, and technology’s role in prevention and intervention. A SOFTSWISS representative will join the panel discussion ‘Innovation, Technology, and Responsible Gambling’, which explores emerging risks and mitigation strategies in digital environments.
“Industry partnership is essential to keep responsible gambling and player protection visible, effective, and evidence-based across channels. We greatly value the commitment and partnership of prominent international companies, such as SOFTSWISS, whose support brings expertise and resources to these important initiatives in South Africa,” said Sibongile Simelane-Quntana, Executive Director at the South African Responsible Gambling Foundation.
“South Africa is a priority market for SOFTSWISS, and we are proud to support this summit’s mission to advance safer play through collaboration and technology,” said Miranda Guliashvili, Head of Regional Growth at SOFTSWISS. “We continuously apply responsible gambling best practices in our products to help operators build sustainable, compliant growth.”
Building on this commitment, the SOFTSWISS Anti-Fraud team has delivered measurable results: from January to August 2025, it prevented over 15 million euro in fraudulent transactions, resolved more than 56,000 tasks, and processed 70 player complaints submitted to gaming regulators and forums. As fraud tactics evolve – including attempts to use AI-generated deepfakes during verification – SOFTSWISS is strengthening its tools and processes to help operators maintain a secure, transparent environment.
About SOFTSWISS
SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Casino Platform, the Game Aggregator with over 35,000 casino games, Affilka Affiliate Platform, the Sportsbook Software and the Jackpot Aggregator. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.
The post SOFTSWISS Deepens Safer Play as Platinum Partner of Responsible Gambling Summit 2025 appeared first on European Gaming Industry News.
Reading Time: 4 minutes
Here are this weeks latest slots releases compiled by European Gaming
PG Soft, a world-class digital mobile games company, has released its powerful new title, Kraken Gold Rush. PG Soft’s game invites players to embark on the perilous high seas and navigate past The Kraken’s monstrous tentacles, desperate to drag ships into the abyss. Sticky Wilds and multipliers reaching x100 help players hunt down a legendary haul of 10 million gold coins.
Evoplay has launched Velvet Gems, a glamorous slot filled with sparkling stones, seamless gameplay, and high reward potential. The game immerses players in a luxurious realm of shimmering rubies, emeralds, and sapphires, where each spin radiates opulence. Striking visuals and a refined soundtrack create a premium atmosphere, making it a perfect choice for players seeking an elegant, feature-rich experience.
The authorities thought they’d finally locked away The Syndicate, the most notorious crew of fugitives in history. But in Nolimit City’s latest release, Breakout, not even a maximum security prison can hold them. This jailbreak-themed slot adds to the list of this year’s releases; Dead Men Walking, Tsar Wars and Kill Em All.
Think you are brave enough to return to the Castle of Terror? This lab experiment-horror sequel from Big Time Gaming is a bone-chilling adventure packed with electrifying features designed to give you the fright of your life. This is a slot where players find themselves in a spooky lab where they must brace themselves for Bonus Respins that are triggered by landing Scatters.
BGaming brings the party to the reels with the release of its latest slot, Fiesta Clusters. This vibrant, highly volatile slice of action combines the celebratory spirit of Cinco de Mayo with the expressive artistry of Día de los Muertos, delivering vibrant thrills for players and a seasonal spike potential for operators around Halloween.
Push Gaming is set to deliver twice the thrills this Halloween with the release of two new seasonal titles, Tarot Treasures and Tricky Treats. Both games highlight the recent launch of Push Gaming’s new product segmentation. Push Action delivers titles with enhanced layers of mechanics and player interaction, a category which Tarot Treasures proudly joins.
Spinomenal has launched Buffalo Rampage – Hold & Hit 3×3, a 3×3 reel, 5 lines video slot. Buffalo Rampage – Hold & Hit 3×3 unfolds across a sun-scorched desert at dusk, framed by towering cacti and brought to life with a slow-paced and Western-inspired soundtrack that immerses players in the action.
TaDa Gaming, has added some dark magic to its TriLuck slots series with its five reels, three rows and 50 fixed paylines new game, 3 Witch’s Lamp. Green, Purple and Blue Potion Pot Scatters can trigger the bonus game’s free spins, five fixed jackpots, ignite coins for wins and increase the bonus prizes.
Blueprint Gaming
has introduced a new four pots mechanic and enlarged 5×3 grid to its latest release, Cash Strike Power Force 5, marking an innovative double debut for the internationally recognised series. With various iterations from the Cash Strike family consistently ranking in the supplier’s top 10 revenue-generating markets, the new title builds on the impressive momentum from its predecessors.
Play’n GO invites players underwater in Bubblin’ Riches, a 6×4 slot where golden coins and greedy fish collide for submerged surprises. Set in a playful underwater reef, Bubblin’ Riches brings a burst of colour and charm to the reels. At the heart of the action is a bloated Goldfish with a hoarding habit – every Coin Scatter that lands could feed its fortune, or set off a surprise payout.
Playson turns up the heat in its scorching new release Flaming Bells: Hold and Win, where nostalgic gameplay is reinspired with a 5,000x Grand Jackpot, Extra Bonus Game and valuable Multipliers. Collect symbols gather all visible cash values from the reels, including other Collect icons and the three in-game Jackpot symbol values.
ELA Games beckons players to step into a shadowy realm of sorcery and mystery with its newest release: Witches’ Book. Bathe in the magic as a powerful coven of three witches conjures their spells across the reels, revealing mysterious rewards and surprises. Each spin is a step toward ultimate strength, where massive riches and bubbling magic await.
Amusnet has released its latest online video slot, 27 Wild Shots. This vibrant slot game blends the style of classic fruit games with the charm of a fairytale twist, led by none other than the Little Red Riding Hood herself. The three reels burst with familiar symbols of juicy fruits, reimagined in a lively forest theme.
The post Week 42/2025 slot games releases appeared first on European Gaming Industry News.
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