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Light & Wonder, Inc. Reports Second Quarter 2024 Results

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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.

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The power of sweepstakes: how Infingame brings strategic value to the iGaming market

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Infingame is strengthening its position in one of the fastest-growing segments of the iGaming industry, leveraging deep expertise in sweepstakes to help operators and game developers unlock new growth opportunities.

Over the past year, sweepstakes have moved from a niche concept to a major focus area, particularly in North America, where the model has gained significant traction across the US, with growing interest in markets such as Canada and Australia. This momentum is being driven by a fundamental shift in how players engage with gaming products.

“Sweepstakes introduce a different kind of experience,” said Dmytro Kryvorchuk, COO at Infingame. “By using token-based systems, the focus moves away from immediate financial outcomes and towards entertainment, progression, and longer player sessions.”

Infingame has positioned itself as a bridge between traditional iGaming and the sweepstakes ecosystem. While its aggregation platform connects operators to over 150 game providers, only a limited number currently offer sweepstakes-adapted content. To address this gap, Infingame works closely with studios to support the transition.

“Developing for sweepstakes is not a simple port of existing games,” Dmytro Kryvorchuk noted. “Studios must rethink everything, from language and UX to mechanics and compliance. Terms like ‘bet’ or ‘cash’ often need to be replaced entirely, and dual-currency logic must be built into the core experience.”

Infingame supports this process through technical integration, regulatory guidance, and a streamlined API that allows developers to adapt and scale content efficiently. The company has also played an active role in mentoring providers through the adaptation process, accelerating their entry into the sweepstakes market and expanding the available content pool for operators.

This collaborative approach has enabled Infingame to build a strong foothold in North America, working alongside some of the region’s largest sweepstakes operators. As a result, new clients can be onboarded quickly, with access to relevant content and practical expertise from day one.

A key differentiator lies in Infingame’s role beyond aggregation. The company acts as a strategic partner, helping operators navigate the complex and often fragmented regulatory landscape. In North America, where requirements vary significantly between states, compliance remains a central challenge.

“We don’t just provide content, we help operators understand how to structure their platforms correctly,” Kryvorchuk said. “That includes everything from choosing the right mechanics and terminology to connecting them with legal advisors, payment providers, and financial partners who specialise in sweepstakes.”

As the market matures, Infingame continues to invest in expanding its sweepstakes offering. The company is actively onboarding new providers, sharing market insights, and supporting studios in navigating regulatory nuances.

At the same time, Infingame is enhancing its engagement toolkit. Early results have shown measurable increases in player activity and retention, particularly in reactivating dormant users. Building on this momentum, new features such as Challenges are being rolled out to give operators additional ways to drive engagement and differentiate their offering in an increasingly competitive space.

By combining content, technology, and hands-on expertise, Infingame is helping shape the future of sweepstakes, transforming it from an emerging trend into a sustainable, high-value segment of the global iGaming industry.

About Infingame  

Infingame is a leading game aggregator built to help operators move faster and scale smarter. Through a single API integration, the platform gives access to a portfolio of over 16,000 games from more than 150 providers, allowing partners to launch quickly without dealing with multiple integrations.

Delivered via a single API, Infingame offers unparalleled technical excellence, the industry’s fastest spin times, exclusive tournaments and strategic partnerships with top-tier operators in North America, LatAm and beyond. Spanning a portfolio of slots, crash games, sweepstakes and live casino, book a demo via the LinkedIn page, website or at [email protected].

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Boomerang Partners: Peak sports season creates key opportunities in the Golden Boomerang Awards Kickoff stage

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From April 3 to June 9, Boomerang Partners is holding the first stage (Kickoff) of its annual affiliate traffic tournament, the Golden Boomerang Awards. Hundreds of affiliate teams from around the world are competing for unique sports-related experiences. The main prize for the first stage is a trip to the Wimbledon Championships from June 29 to July 12.

Strategic Importance of May

May is the most intense phase of the Kickoff stage in the Golden Boomerang Awards 2026. The concentration of major sporting events during this period creates the highest volume of opportunities to generate traffic and accumulate points.

The tournament is structured around key moments in the sports calendar, allowing participants to align their campaigns with peak audience interest. In practice, this means that late April and May – and May in particular – offer significantly more potential compared to quieter periods.

This is where consistency becomes critical. With multiple high-profile events running in parallel, teams need to maintain a steady pace and work across several sports to stay competitive.

As a result, May is set to determine the direction of the leaderboard. Teams that stay active can move into top positions, while any slowdown during this period can quickly push teams behind, at a stage when competition is at its most intense.

Key sporting events in late April and May

Late April and May bring a high concentration of major sporting events across different disciplines. The period includes the NHL and NBA playoffs, as well as the decisive stages of European football competitions – with the UEFA Champions League final on May 30, the UEFA Europa League final on May 20, and the UEFA Conference League final on May 27.

At the same time, domestic football seasons are coming to an end across Italy, England, Germany, France, and Spain, while the KHL playoffs and the IIHF World Championship (May 15–31) keep audience attention high throughout the month.

Other key events during this period include the World Team Table Tennis Championships in London (April 28–May 10) and Roland Garros in Paris (May 18–June 7).

The Solution: Tools for the Marathon

Late April and May are not the time to spread traffic evenly. Most of the value comes from key match days and decisive stages of major tournaments, when attention and online betting activity spike.

With the volume of events during this period, the calendar becomes harder to navigate. Teams that are newer to the vertical often miss important moments or don’t fully use the calendar, simply because it’s not always clear where the real peaks are.

To address this, earlier this year Boomerang Partners introduced the Sports Marketing & Betting Calendar 2026 – a practical guide based on internal data. It helps affiliate teams navigate the season, identify key events, and plan campaigns around periods that actually drive results.

In practice, this comes down to timing. Teams that align their activity with these peaks can get more out of the same traffic, while those who treat the period as a regular month often fall behind.

Liliia Sudachenko, Affiliate Team Lead at Boomerang Partners, commented: “2026 is a major year for sports, and May stands out as one of the busiest months in the calendar. Affiliate teams participating in the third season of the Golden Boomerang Awards can benefit from analyzing both current and upcoming tournaments to build a more precise strategy. Each peak in the sports calendar is not just additional traffic, but a real opportunity to strengthen positions in the leaderboard”.

Why May matters for the stage outcome

Affiliate teams that haven’t yet joined the third season of the Golden Boomerang Awards 2026 should not waste any time. The first stage of the tournament continues through June 9, and every point earned in May will count toward the stage result. All interested affiliates can register and start competing for valuable prizes and unique experiences on the GBA website.

About Boomerang

Boomerang Partners is a rapidly growing global marketing agency offering a wide range of services. Boomerang Partners is an Official Regional Partner of AC Milan. In 2024, it launched the inaugural Golden Boomerang Awards – a global tournament for affiliate teams. More than 400 affiliate teams participated in the second season of the tournament in 2025. Partners of the Agency launched six new products in 2024-2025, contributing to a nearly 1.5-fold increase in product users.

The Agency’s clients’ portfolio contains 10+ brands offering affiliate and entertainment services across 40+ markets in compliance with local regulations. These products provide incentive programs and 24/7 multilingual support.

Disclaimer:

This promotion is not affiliated with, endorsed by, or sponsored by The Wimbledon Championships, UEFA. All trademarks and event names are the property of their respective owners. Any prizes described (including trips or event attendance) are independently organized by Boomerang Partners and do not imply any official partnership.

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TAG Media and Gamblitude launch affiliate tool affie.ai

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TAG Media and Gamblitude have launched affie.ai, a guided decision-making engine designed for iGaming affiliate managers. The companies said the product will make its debut at SBC Summit Malta, running 28–30 April.

At the event, affie.ai’s Elaine Gardiner, Alana Weldon and Wojtek Sznapka will demonstrate the platform to operators interested in becoming one of five launch partners. The companies said they are offering a “No Strings Attached” six-week trial to five operators.

affie.ai is positioned as a decision layer rather than an affiliate tracking platform or dashboard. TAG Media said the product is built on strategic frameworks the company has used across “50+ programme launches” over the past decade, while Gamblitude provides the data and analytics layer. Gamblitude was founded by former STS chief technology officer Wojtek Sznapka and former STS chief sportsbook officer Piotr Cerlak.

The companies said affie.ai provides data-informed recommendations covering deal structures, partner performance, programme optimisation and commercial risk insights, with the goal of reducing time spent on reporting and spreadsheet-based analysis.

Elaine Gardiner, Co-Founder of affie.ai says: “After 17 years managing affiliate programmes for operators including Cherry Casino, Ninja Casino and Rizk, I know what good decision-making looks like in this role and I know how rarely it’s supported by the right tools. affie.ai takes the strategic thinking our team applies every day and makes it available on demand and at pace: specific to your programme, specific to your data and ready when the affiliate manager needs it.”

The post TAG Media and Gamblitude launch affiliate tool affie.ai appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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