Welcome to our dedicated page for Light & Wonder news (Ticker: LNW), a resource for investors and traders seeking the latest updates and insights on Light & Wonder stock.
Light & Wonder, Inc. reports developments in its cross-platform games business, with recurring updates on game performance, gaming operations units, North American premium installed base trends, SciPlay revenue, iGaming results and charitable gaming activity tied to Grover.
Company news also covers debt refinancing and senior notes, share repurchases, capital allocation, governance and leadership appointments, and capital-markets structure after the Nasdaq delisting and transition to a sole standard listing on the ASX. Legal updates include proceedings concerning game math models for selected hold-and-spin games.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Light & Wonder, Inc. (NASDAQ: LNW) announced its financial results for the first quarter of 2023 will be released on May 9, 2023, after market close. A conference call to discuss these results will take place on the same day at 4:30 p.m. Eastern Time. Pre-registration for participants is encouraged, allowing immediate access to the call. Callers can dial in at US Toll Free: +1 (833) 470-1428 or International: +1 (204) 525-0658 with Conference ID: 348332.
Additionally, the webcast will be accessible via the Company's website, and a replay will be available about one hour after the call and archived for later access. Investors can contact Investor Relations at +1 (702) 532-7614 for further inquiries.
Light & Wonder (NASDAQ: LNW) announced its evaluation of a potential secondary listing on the Australian Securities Exchange (ASX) to enhance shareholder value and market presence. The Board sees significant benefits, including greater visibility in Australia, a key market for its gaming business, and access to Australian institutional investors to complement its US shareholder base. Executive Chair Jamie Odell emphasized the ASX's reputation as a premium market for gaming companies. However, there is no guarantee that the Company will pursue this listing, with further updates expected after the evaluation process.
Light & Wonder reported an 18% revenue growth in Q4 2022, totaling $682 million, and a 17% increase for the full year, reaching $2.5 billion. Gaming revenue surged 18% to $438 million, driven by a 41% increase in Gaming machine sales. SciPlay set a record with $182 million in revenue, marking an 18% growth, while iGaming revenue rose 15%.
Despite these gains, net income fell to $21 million from $62 million year-over-year, leading to a full-year net loss of $176 million. The company returned $413 million to shareholders through share repurchases this year and maintained a net debt leverage ratio of 3.3x.