Gaming Revenue
Light & Wonder Reports Fourth Quarter and Full Year 2023 Results
Light & Wonder Inc. reported results for the fourth quarter and fiscal year ended December 31, 2023. The Consolidated revenue in the quarter grew 13%.
Highlights
- Gaming revenue increased to $496 million, up 13% compared to the prior year period, primarily driven by another quarter of robust Gaming machine sales growth, which increased 31% globally, coupled with continued strong momentum in Gaming operations.
- SciPlay revenue rose to $204 million, a 12% increase from the prior year period, breaking a quarterly revenue record for the sixth consecutive quarter, driven by the core social casino business, which once again delivered strong payer metrics and outpaced the market and gained share.
- iGaming revenue increased 13% to $70 million reflecting continued growth momentum in the US and international markets.
- Full year consolidated revenue increased 16% to $2.9 billion delivering record results, which showcased strong financial performance, execution on growth strategy and transformation, and continued advancement toward long-term financial targets.
Matt Wilson, President and CEO of Light & Wonder, said: “2023 was a banner year for Light & Wonder. Our businesses delivered double-digit growth across the board throughout the year, enabled by strategic investments and strong execution. We consistently leverage a differentiated product strategy and plan to capitalize on the significant growth opportunities ahead of us. I am thrilled with the momentum we continue to see in the business, and with our winning mentality, experience, and talent in place, we are well-positioned to continue our growth trajectory. I want to congratulate our team on a successful year and know the best is yet to come.”
Oliver Chow, Chief Financial Officer of Light & Wonder, said: “We continue to see healthy trends in the business and were able to capitalize on many of the opportunities presented to us in 2023 to deliver strong top- and bottom-line growth, both in the quarter and for the full year. Our teams continued to deliver quality earnings with improved metrics over the course of 2023. Moving forward, we will focus on driving sustainable growth and executing against our balanced and opportunistic capital allocation strategy with discipline, driving value for all stakeholders.”
Leverage, Capital Return and Strategy Update
- Principal face value of debt outstanding of $3.9 billion, translating to net debt leverage ratio of 1x as of December 31, 2023, despite the cash outflow required to complete the SciPlay merger. The net debt leverage ratio decreased 0.2x from December 31, 2022, and remained within the targeted net debt leverage ratio range of 2.5x to 3.5x.
- Returned $25 million of capital to shareholders through the repurchase of approximately 3 million shares of L&W common stock during the quarter and $170 million or 2.4 million shares during 2023. Since the initiation of the program, the company has returned $575 million of capital to shareholders through the repurchase of approximately 9.4 million shares of L&W common stock, representing 77% of total program authorization.
- Repriced the Term Loan B in January 2024 reducing the interest rate by 35 basis points, resulting in a reduction in annualized interest costs of approximately $8 million.
- SciPlay merger integration completed successfully, with the Company strengthening its cross-platform strategy through synergistic game development processes across all businesses.
A new research has revealed the stark reality behind a notable downturn in tourism to the renowned resort city, Las Vegas, with the number of visitors falling sharply compared to previous years.
The study, conducted by leading casino and sports betting community OLBG, shows that Vegas has seen a drop off of around 264,248 tourists on average per month – a decline of approximately 7.6%. It means over a quarter of a million fewer people are heading to the city each month marking one of the most significant slowdowns outside of pandemic years.
Post-Covid recovery stalling
Despite a steady period after the 2020 lockdown, Las Vegas saw consistent growth up until 2024. Recent OLBG data however shows a clear reversal with average monthly visitors falling from 3.47million to 3.21million. The city is now facing renewed pressure to maintain its global appeal.
The drop in tourism is reflected across key hotel metrics. Average room occupancy has declined to 80.4%, down from 84.4% the previous year – the lowest level in four years.
At the same time, the average daily room rate has fallen by nearly 10%, indicating that hotels are reducing prices to attract visitors. Revenue per available room has also dropped by 13% year-on-year, reaching its lowest level in over nine years outside of the pandemic.
Gaming revenue shows some resilience
Gaming revenue has seen a modest increase of 3.8% year-on-year, reaching a monthly average of $1.11 billion (inflation-adjusted). However, this follows a decline the previous year and remains below earlier peak levels.
While the sector is holding relatively steady, it is not enough to offset the wider decline in tourism and hospitality performance.
The data also reflects broader changes in consumer behaviour. The continued growth of online gambling, combined with more value-driven travel decisions, is reshaping the global gambling landscape.
Shift toward lower-cost destinations
Rising travel costs and changing consumer priorities appear to be driving a shift toward more affordable gambling destinations. Travellers are increasingly seeking locations that offer similar entertainment experiences at a lower overall cost.
Destinations such as Atlantic City and Biloxi in the US, alongside European cities like Prague and Budapest, are gaining traction due to cheaper accommodation, lower travel costs, and competitive casino offerings. International resort destinations, including Sun City in South Africa, are also emerging as cost-effective alternatives.
This growing competition is putting pressure on Las Vegas, particularly among price-sensitive travellers.
An OLBG spokesperson said: “Las Vegas has been the benchmark for global gambling tourism, but latest figures suggest its dominance is being tested. Continued rising costs in terms of travel and accommodation, plus spending in the city, means many players are more selective on destinations.
“Destinations that offer similar casino experiences but at lower prices are becoming more popular – whether that’s still in the US in Atlantic City and Biloxi or across Europe in cities such as Prague and Budapest. Value is becoming the key driver for tourists’ decision-making.
“However, continued growth of online gambling is giving players more flexibility than they’ve ever had. In some cases, this reduces the need to travel altogether whilst others choose short, cost-effective trips with digital play.
“Sin City isn’t going anywhere, though. It remains a world class destination but it’s operating in a much more competitive global market compared to previous years.”
The post New Research Shows Stark Reality of Tourism Decline in Las Vegas appeared first on Americas iGaming & Sports Betting News.
ZingBrain AI Drives Hondubet Growth with Real-Time Personalisation
ZingBrain AI is reshaping the iGaming landscape by delivering measurable performance gains for Hondubet through advanced real-time personalization technology.
By replacing its manually curated casino lobby with a fully automated, API-driven solution, Hondubet has unlocked a new level of player engagement and operational efficiency. The AI-powered system dynamically adapts content to individual player behaviors, ensuring that each user encounters games tailored to their unique preferences.
Significant Performance Gains Across Player Segments
Data from a controlled A/B test comparing the legacy manual lobby with the new personalized system highlights substantial improvements:
- A 25% increase in Gross Gaming Revenue (GGR) and turnover among newly registered players
- A 10% rise in total bets placed by returning users
- A 25% boost in the number of unique games explored across the player base
These results underscore the effectiveness of AI-driven personalization in enhancing both user engagement and revenue generation.
From Manual Management to Intelligent Automation
Previously, Hondubet relied heavily on manual processes to manage its casino lobby, requiring constant updates and resource-intensive oversight. According to Julian Pareja Garcia of Hondubet, the shift to ZingBrain AI has been transformative.
The automated system continuously learns from player interactions, refining game recommendations and lobby sections without human intervention. This allows the operator’s team to focus on strategic initiatives rather than routine maintenance.
Smarter Player Experiences Through AI Innovation
Oleg Smolerov emphasized the collaborative approach between the two companies, highlighting a shared commitment to innovation and product excellence.
Rather than static content placement, the AI engine ensures that every element of the lobby evolves in response to real-time data. This creates a more intuitive and engaging user experience, where players are presented with content that feels both relevant and natural.
Aligning Commercial Goals with User Experience
Beyond engagement metrics, the integration also supports Hondubet’s commercial strategy. Through ZingBrain AI’s Game Promotion tool, priority titles can be strategically surfaced within personalized sections.
Crucially, the system evaluates performance continuously. Games that fail to resonate with players are automatically deprioritized and replaced with more relevant options. This ensures a balance between promotional objectives and player satisfaction, maximizing both retention and monetization.
A New Standard for iGaming Personalisation
The success of this integration signals a broader shift within the iGaming industry toward intelligent automation and data-driven experiences. By leveraging AI to personalize every touchpoint, operators like Hondubet are setting new benchmarks for engagement, efficiency, and revenue growth.
As competition intensifies, solutions like ZingBrain AI are poised to become essential tools for operators seeking to deliver meaningful, high-performing user experiences at scale.
The post ZingBrain AI Boosts Hondubet Engagement appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Arizona
Arizona Department of Gaming Marks Fifth Super Bowl of Legal Sports Betting — November Wagers Top $965M
The Arizona Department of Gaming today highlighted a major milestone: the upcoming Super Bowl will be the fifth played under Arizona’s legal, state-regulated sports wagering framework. Since regulated event wagering launched in 2021, Arizona’s oversight—guided by state law and Tribal-State Compacts—has aimed to protect consumers, preserve integrity, and generate public revenue.
Key November 2025 figures: strong wagering growth
In its latest monthly report, the Department said Arizona bettors wagered approximately $965 million on sports and events in November 2025 — about a 7.5% increase versus November 2024. The state collected roughly $5.5 million in privilege fees for the month.* Fiscal year-to-date privilege fees total $26.3 million (about $25.7M from event wagering and $637,399 from fantasy sports).
Arizona also recorded its highest monthly event wagering in October 2025 with $967,141,269, and the second-highest in November 2025 with $965,233,844.*
Regulated framework and consumer protections
Arizona’s regulated model requires licensed operators to follow statutory rules, Tribal-State Compacts, and ongoing regulatory oversight. The Department conducts audits, compliance reviews, and integrity controls designed to prevent fraud and illegal activity. Licensed event wagering operators remit privilege fees, calculated as a percentage of gaming revenue — with 90% of those fees directed to Arizona’s General Fund to support state programs and priorities.
There are currently fourteen licensed event wagering operators approved to offer wagering in Arizona, each subject to ongoing Department review and potential audit adjustments.
Responsible play and support resources
The Department emphasizes the importance of using state-licensed event wagering and fantasy sports apps or retail locations. For guidance and safety tips, players are encouraged to visit Check Your Bet at gaming.az.gov/checkyourbet.
For individuals and families affected by problem gambling, the Department’s Division of Problem Gambling offers confidential, subsidized treatment and resources statewide at problemgambling.az.com.
* Disclaimer: Monthly operator figures are self-reported and subject to adjustment after Department audits and review. The Department does not guarantee the final accuracy of the self-reported totals.
The post Arizona Department of Gaming Marks Fifth Super Bowl of Legal Sports Betting — November Wagers Top $965M appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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