Light & Wonder, Inc. Reports Fourth Quarter and Full Year 2023 Results

Achieved Record Full Year Results Driven by Double-Digit Growth across All Businesses
Light & Wonder reported yesterday, February 27, its results for the fourth quarter and fiscal year ended December 31, 2023.

The company closed the year with momentum and delivered its 11th consecutive quarter of consolidated revenue growth and sixth consecutive quarter of double-digit growth year-over-year. Consolidated revenue in the quarter grew 13%, driven by strong performance across all our businesses, while we maintained strong margins.

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.

Additionally, iGaming revenue increased 13% to $70 million reflecting continued growth momentum in the U.S. and international markets.

Full year consolidated revenue increased 16% to $2.9 billion delivering record results, which showcased our strong financial performance, execution on our growth strategy and transformation, and continued advancement towards our long-term financial targets.

Matt Wilson, President and Chief Executive Officer 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, added, “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.”
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