Light & Wonder Stock Price, News & Analysis

Light & Wonder (NASDAQ: LNW) has completed its acquisition of Grover Gaming's charitable gaming assets for $850 million in cash, with an additional potential $200 million earn-out based on revenue performance over four years. The acquisition strengthens Light & Wonder's position as a leading global cross-platform games company by expanding into the fast-growing charitable gaming market.

Matt Wilson, President and CEO of Light & Wonder, emphasized that Grover Gaming's leadership in charitable gaming aligns with their strategy to expand into complementary regulated markets. Brian Brown, former Grover Gaming CEO and now head of Light & Wonder's new division, expressed optimism about growth opportunities within the Light & Wonder ecosystem.

Light & Wonder (LNW) reported strong Q1 2025 results marking its 16th consecutive quarter of year-over-year revenue growth. The company achieved consolidated revenue of $774 million, up 2% YoY, with AEBITDA rising 11% to $311 million. Gaming revenue increased 4% to $495 million, while iGaming grew 4% to $77 million. SciPlay revenue slightly decreased by 2% to $202 million. The company returned $166 million to shareholders through share repurchases of approximately 1.9 million shares. Net income remained stable at $82 million, with EPS increasing 7% to $0.94. The company maintains its 2025 Consolidated AEBITDA target of $1.4 billion (pre-Grover transaction) and is proceeding with the strategic acquisition of Grover Gaming's charitable gaming business for $850 million, expected to close in Q2 2025.

Light & Wonder (NASDAQ/ASX: LNW) has announced its upcoming Investor Day scheduled for Tuesday, May 20, 2025, in New York City at 2:00 p.m. ET. The event will showcase presentations from key leadership including President and CEO Matt Wilson, CFO Oliver Chow, and business unit leaders, alongside an expert panel featuring Todd Eilers from Eilers & Krejcik Gaming.

The presentations will deliver a comprehensive overview of the company's business units, strategic priorities, and value creation opportunities. While in-person attendance is invitation-only for financial analysts and institutional investors, a live video webcast will be accessible through Light & Wonder's investor relations website. The company will provide presentation materials, GAAP financial measures reconciliation, and comparable non-GAAP metrics during the event.

Light & Wonder (NASDAQ and ASX: LNW) has scheduled its first quarter 2025 financial results release for Wednesday, May 7, 2025, after market close. The company will host an investor conference call and simultaneous webcast at 4:30 p.m. U.S. Eastern Time on the same day.

Participants can pre-register for the conference call to receive a passcode and unique PIN for immediate access. The event will be accessible via webcast through the company's investor relations website at explore.investors.lnw.com. A replay will be available approximately one hour after the webcast and archived on the website.

The conference call can be accessed through:

• US Toll Free: +1 (833) 470-1428
• Australia: +61 2 7908 3093
• International: +1 (404) 975-4839

Access Code: 402721

Light & Wonder (NASDAQ: LNW) provided an update on its ongoing litigation with Aristocrat regarding Dragon Train and related games. Aristocrat filed a second amended complaint adding trade secret misappropriation claims against Jewel of the Dragon. Key developments include:

- LNW will voluntarily stop commercializing Jewel of the Dragon and offer replacements to customers
- Company discovered certain Aristocrat PAR sheets from 2015 were available to development team
- Expanding review to include all hold and spin games released before mid-2021
- Approximately 95% of 2,200 Dragon Train units have been converted in North America

Despite these challenges, LNW reaffirms its 2025 financial targets of $1.4 Billion Targeted Consolidated AEBITDA and Targeted Adjusted NPATA between $565-635 million. The company states Jewel of the Dragon's removal is not expected to materially affect revenue or future growth.

Light & Wonder (NASDAQ and ASX: LNW) has announced a important investor conference call scheduled for Wednesday, April 2, 2025, following market close at 4:30 p.m. U.S. Eastern Time. The call will provide updates regarding the Dragon Train litigation.

The conference will be accessible through multiple channels, including a simultaneous webcast. Participants are encouraged to pre-register to receive a unique PIN and conference passcode for immediate access. The call timing corresponds to 1:30 p.m. U.S. Pacific Time and 7:30 a.m. Australian Eastern Daylight Time (April 3, 2025).

Investors can join via:

• US Toll Free: +1 (833) 470-1428
• Australia: +61 2 7908 3093
• International: +1 (404) 975-4839

A webcast replay will be available approximately one hour after the call on the company's investor website.

Light & Wonder (LNW) reported strong financial results for Q4 and full year 2024, achieving record consolidated revenue of $3.2 billion, up 10% year-over-year. The company's Gaming segment revenue increased 12% to $2.1 billion, while SciPlay revenue rose 6% to $821 million, and iGaming revenue grew 9% to $299 million.

Key highlights include:

• Added 850+ North American Gaming Operations Units in Q4 and 2,700+ units year-over-year
• Returned $462 million to shareholders through share repurchases in 2024
• Announced strategic acquisition of Grover Gaming's charitable business for $850 million
• Q4 net income increased to $107 million from $67 million year-over-year
• Maintained net debt leverage ratio of 3.0x

The company expanded its revolving credit facility to $1.0 billion and is evaluating potential strategies for its ASX listing, where approximately 30% of total ownership is represented.

Light & Wonder (NASDAQ: LNW) has announced the acquisition of Grover Gaming's charitable gaming assets for $850 million in cash, plus a potential $200 million revenue-based earn-out over four years. Grover Charitable Gaming operates over 10,000 electronic pull-tab units across five U.S. states (ND, OH, VA, KY, NH) under a recurring revenue model.

The acquisition represents a multiple of ~7.7x based on 2024 Grover Adjusted EBITDA. Grover generated $135 million in revenue and $111 million in Adjusted EBITDA for 2024. The transaction is expected to close in Q2 2025, subject to regulatory approvals.

The deal aims to establish LNW's position in the fast-growing charitable gaming space while maintaining the target leverage ratio of 2.5x-3.5x. Light & Wonder reaffirms its 2025 $1.4 billion Consolidated AEBITDA Target, excluding any contribution from this acquisition.

Light & Wonder (NASDAQ: LNW) has announced the promotion of Nathan Drane to Chief Product Officer (CPO), expanding his role from CPO of the Gaming business to an enterprise-wide position. In this new role, Drane will lead all game creation across the company under a single department.

Drane, who joined the company in early 2021 after more than 12 years in product-centric roles, has been instrumental in developing the company's cross-platform strategy. CEO Matt Wilson expressed confidence in Drane's leadership and vision, noting his clear content roadmap for growth.

The reorganization establishes a centralized content organization focused on building games for all markets and platforms, emphasizing data-driven development decisions and talent growth. Former CPO Rich Schneider will continue contributing to the company's product innovation and strategy as Senior Advisor.