Light & Wonder, Inc. reported a strong financial performance for the fiscal year ended December 31, 2024, with total revenue reaching $3.19 billion, a 10% increase from $2.90 billion in 2023. The company’s net income attributable to shareholders was $336 million, or $3.77 per share, compared to $163 million, or $1.79 per share, in the previous year, reflecting a significant year-over-year growth of 106%. The increase in revenue was primarily driven by robust sales in the Gaming segment, which saw a 12% rise, bolstered by a 22% increase in gaming machine sales.
The company experienced notable changes compared to the previous fiscal period, including a strategic focus on expanding its digital gaming presence and enhancing its product offerings. In 2024, Light & Wonder completed the acquisition of the remaining 17% equity interest in SciPlay, making it a wholly-owned subsidiary, which is expected to enhance its growth profile. Additionally, the company announced a strategic acquisition of Grover Charitable Gaming for $850 million, aimed at expanding its footprint in regulated land-based markets.
Operationally, Light & Wonder reported an increase in its installed base of gaming machines, with U.S. and Canada units rising to 34,004, a 9% increase from the previous year. The average daily revenue per unit also improved, indicating higher player engagement. The company’s international operations, however, faced challenges, with a decrease in installed units primarily due to the closure of certain locations in the U.K. and reductions in low-yielding units in other regions. The total employee headcount as of December 31, 2024, was approximately 6,800, reflecting the company’s commitment to maintaining a strong workforce to support its growth initiatives.
Looking ahead, Light & Wonder expressed optimism about its future performance, driven by ongoing investments in research and development, as well as strategic acquisitions. The company aims to leverage its diversified portfolio of gaming franchises and expand its market share in both existing and new jurisdictions. However, it acknowledged potential risks, including economic uncertainties, inflationary pressures, and regulatory challenges that could impact its operations and financial results. The company remains focused on executing its strategic roadmap to drive long-term value and enhance shareholder returns.
About Light & Wonder, Inc.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.