Q1 revenue growth sustained by Light and Wonder
Light & Wonder kept its growth streak going strong in Q1 2025, according to the company's recent financial update. The gaming titan reported a moderate boost in revenue and steady profits while stressing notable advancements in both their gaming and iGaming divisions.
Remember, Light & Wonder has maintained a whopping 16 consecutive quarters of year-over-year revenue growth.
The latest figures show a 2% revenue surge to a staggering $774 million compared to Q1 2024, with net income remaining steady at $82 million. Impressively, adjusted earnings before interest, taxes, depreciation, and amortization (AEBITDA) soared by an impressive 11% to $311 million.
The core gaming segment led the charge, raking in $495 million during the quarter, an uptick of 4%. Gaming operations brought in $173 million, while gaming machine sales generated a colossal $208 million. Remaining earnings came from gaming systems and table products, fetching a combined $114 million.
CEO Matt Wilson rejoiced, "Our R&D investment, vast array of product offerings, and comprehensive content strategy have delivered success in game deployment and franchise expansions." He expressed optimism about the company's upcoming ventures and their ability to power progress across all units.
iGaming also contributed to the growth, with revenue increasing by 4% to $77 million. The company highlighted strong momentum in North America and the development of its partner network. A monumental $25.2 billion in wagers were processed through its iGaming platform, indicating robust user engagement.
However, the SciPlay segment experienced a slight 2% dip in revenue, landing at $202 million. This was primarily due to a decrease in average monthly payers at Jackpot Party Casino, but the average monthly revenue per paying user improved, softening the impact. Despite the setback, the SciPlay segment managed to see a 3% leap in AEBITDA, finishing the quarter with $64 million.
Both the gaming and iGaming segments recorded AEBITDA increases of 9% and 8%, respectively, ending the quarter with $254 million and $27 million, respectively.
In other news, Light & Wonder spent $166 million to buy back around 1.9 million shares of its common stock during the quarter.
Stay tuned for more developments in this exciting journey of Light & Wonder's expansion in the gaming world!
- In the financial update for Q1 2025, Light & Wonder reported a 2% increase in earnings, reaching a substantial $774 million compared to Q1 2024.
- The gaming titan's adjusted earnings before interest, taxes, depreciation, and amortization (AEBITDA) saw a significant boost of 11% in Q1 2025, amounting to $311 million.
- Light & Wonder's iGaming division recorded a 4% revenue growth in Q1 2025, with a notable $77 million in earnings.
- Despite a 2% dip in revenue, the SciPlay segment managed to increase its AEBITDA by 3% in Q1 2025, closing the quarter with $64 million.
