Light & Wonder Stock Price, News & Analysis

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.

Light & Wonder (NASDAQ and ASX: LNW) has announced it will release its fourth quarter and full year 2024 financial results on Tuesday, February 25, 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 call will be accessible via US Toll Free at +1 (833) 470-1428, from Australia at +61 2 7908 3093, and internationally at +1 (404) 975-4839 using access code 690757. A webcast replay will be available approximately one hour after the call and archived on the company's website.

Light & Wonder (NASDAQ and ASX: LNW) reported its Q3 2024 results, highlighting a 12% YoY increase in consolidated revenue. This marks the 9th consecutive quarter of double-digit revenue growth. Gaming revenue rose 15% to $537 million, driven by a 38% increase in global gaming machine sales and strong North American operations. SciPlay revenue grew 5% to $206 million, supported by the social casino business and a robust direct-to-consumer platform. iGaming revenue increased by 6% to $74 million, despite a 4% impact from the previous year's license termination fees. The company returned $44 million to shareholders via share repurchases and maintained a healthy balance sheet. Light & Wonder reaffirmed its commitment to a $1.4 billion FY 2025 Consolidated AEBITDA target. The company also showcased its diverse game portfolio at G2E and AGE and was added to the S&P/ASX 100 Index on September 25, 2024.

Light & Wonder, Inc. (NASDAQ and ASX: LNW) has released a video statement from President and CEO Matt Wilson addressing recent developments in the Dragon Train litigation. The statement is accessible on the company's website under the 'Recent Events' section and archived in 'Events and Presentations'. This announcement indicates that Light & Wonder is actively communicating with investors and stakeholders about an ongoing legal matter that may have implications for the company's operations or financial position.

Light & Wonder (NASDAQ and ASX: LNW) has announced it will release its financial results for the third quarter of 2024 on Tuesday, November 12, 2024, 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 to discuss the results.

Participants are encouraged to pre-register for the conference call using the provided link. Pre-registered callers will receive a conference passcode and unique PIN for immediate access to the call. The webcast will be accessible through the company's website at https://explore.investors.lnw.com, with a replay available approximately one hour after the webcast.

Light & Wonder (NASDAQ and ASX: LNW) received a preliminary injunction from the U.S. District Court for the District of Nevada regarding its Dragon Train game in a lawsuit with Aristocrat. The company disagrees with the decision and plans to appeal. Despite this setback, Light & Wonder reaffirms its 2025 $1.4 billion Targeted Consolidated AEBITDA and expects continued strong growth across all businesses.

The company emphasizes its diversified portfolio of successful game franchises, with Dragon Train estimated to contribute less than 5% to the 2025 Consolidated AEBITDA. Light & Wonder highlights its #1 market share and performance position for top new sold games in North America, with 8 of the top 25 premium leased and wide-area progressive parent theme games. The company is already working on new iterations of the Dragon Train franchise consistent with the court's ruling.

Light & Wonder, Inc. (NASDAQ: LNW) reported its Q2 2024 results, marking its 13th consecutive quarter of consolidated revenue growth with a 12% YoY increase, reaching $818 million. Gaming revenue surged 14% to $539 million, driven by a 32% rise in global gaming machine sales. SciPlay revenue grew 8% to $205 million, and iGaming revenue increased 6% to $74 million.

Net income soared to $82 million from $5 million the previous year. Consolidated AEBITDA rose 17% to $330 million. Over the first half of 2024, revenue hit $1.6 billion, a 13% YoY jump.

The company completed a $175 million share repurchase, announcing an additional $1 billion program. Debt stood at $3.9 billion with a net debt leverage ratio of 3.0x. Light & Wonder was added to the Russell 1000 Index in June 2024.

Light & Wonder (NASDAQ and ASX: LNW) has released its 2023 Global Corporate Social Responsibility Report, highlighting significant progress across its six pillars: People, Community, Planet, Player, Supplier Diversity, and Corporate Governance. Key achievements include:

- $2.3 million in donations and contributions
- Approximately 16,000 volunteer hours to 289 charitable organizations
- Doubled Employee Resource Group membership to 1,300
- Reclaimed $13 million worth of materials from decommissioned gaming machines
- Invested $150,000 in Responsible Gaming organizations
- Launched an ESG Council for global oversight

The company remains committed to creating long-term value for stakeholders, the industry, and communities through its 'Game Changers by Light & Wonder' program.