Light & Wonder experienced double-digit revenue and profit growth in the latest reporting period. New CEO Matt Wilson described the past year as “pivotal” for the company, which offloaded its lottery and sports-betting businesses and changed its name. Despite this major restructuring, the company saw revenues rise 17.5% to €682m, while adjusted EBITDA rose 23% to €265m. Wilson said that the company’s key performance indicators (KPIs) were all in the green, and that there was no impact from the macro environment at present. He also noted that the gaming machine business had seen substantial progress, driven by robust product sales. The company’s online gross gaming revenue (GGR) rose for the ninth consecutive quarter to $62m, up 15%. Wilson said that the company would be doubling down on cross-platform content, and that it would be launching live casino services in Michigan soon. Wilson said that the company was ready to compete, and that it continued to grow market share, citing the success of SciPlay, which reported record revenues of $182.1m for the Q4.
Melco Resorts EarningsMelco Resorts operates integrated resorts and casinos in Asia. The company’s CEO, Lawrence Ho, said that they are “encouraged” by the situation in Macau, despite the fact that […]