Light and Wonder Reports Substantial Growth In Twelve Consecutive Quarters

Light and Wonder has recorded substantial growth in twelve consecutive quarters after revealing strong revenue in the most recent report.

Light and Wonder Reports Substantial Growth In Twelve Consecutive Quarters

Online slots games provider, Light and Wonder, reported growth for the twelfth quarter in a row, after recording double-digit revenue in every area of business.

In Q1, Light and Wonder attributed $517 million of revenue to the increase in service activity, which increased by 8.4% and product revenue also grew by 23.8% ($239m).

In the most recent quarter, which ended on March 31st, the gaming revenue at Light and Wonder reached $476m and saw a 14% increase year-on-year.

Revenue for SciPlay finished on a record high, accumulating $206m and growing by 11% when compared to the previous year.

Igaming revenue also set a new record for the company, as it grew by 14% and brought $74m into the company this quarter.

Matt Wilson, CEO of Light and Wonder, has applauded the company’s opening to 2024 and pointed out the considerable growth across new North American betting sites.

He said (Via Light and Wonder presser): “Our strong momentum continued into 2024 across the business with our compelling global product offerings driving game sales growth in North American adjacent markets and in international markets led by Australia and Asia.

“The performance in the quarter validates our execution plan and we expect growth to be further enhanced by key hardware and content launches in both our land-based and digital markets throughout the year.

“Our differentiated product road map and targeted commercial strategy enable us to capitalize on growth opportunities beyond our solidified core businesses. We will continue to execute on our initiatives to deliver sustainable growth underpinned by our robust product portfolio and world-class talent.

“The performance in the quarter validates our execution plan. We expect growth to be further enhanced by key hardware and content launches in both our land-based and digital markets throughout the year.”