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Gaming Revenue

Light & Wonder Reports Fourth Quarter and Full Year 2023 Results

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Light & Wonder Inc. reported results for the fourth quarter and fiscal year ended December 31, 2023. The Consolidated revenue in the quarter grew 13%.

Highlights

  • 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.
  • iGaming revenue increased 13% to $70 million reflecting continued growth momentum in the US and international markets.
  • Full year consolidated revenue increased 16% to $2.9 billion delivering record results, which showcased strong financial performance, execution on growth strategy and transformation, and continued advancement toward long-term financial targets.

Matt Wilson, President and CEO 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, said: “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.”

Leverage, Capital Return and Strategy Update

  • Principal face value of debt outstanding of $3.9 billion, translating to net debt leverage ratio of 1x as of December 31, 2023, despite the cash outflow required to complete the SciPlay merger. The net debt leverage ratio decreased 0.2x from December 31, 2022, and remained within the targeted net debt leverage ratio range of 2.5x to 3.5x.
  • Returned $25 million of capital to shareholders through the repurchase of approximately 3 million shares of L&W common stock during the quarter and $170 million or 2.4 million shares during 2023. Since the initiation of the program, the company has returned $575 million of capital to shareholders through the repurchase of approximately 9.4 million shares of L&W common stock, representing 77% of total program authorization.
  • Repriced the Term Loan B in January 2024 reducing the interest rate by 35 basis points, resulting in a reduction in annualized interest costs of approximately $8 million.
  • SciPlay merger integration completed successfully, with the Company strengthening its cross-platform strategy through synergistic game development processes across all businesses.

Financial reports

PA Gaming Control Board Reports a Nearly 11% increase of Gaming Revenue in April

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The Pennsylvania Gaming Control Board (PGCB) reported today that the combined total revenue generated from all forms of gaming along with fantasy contests during April 2025 was $558,717,922, an increase of 10.7% from last April.

The following chart compiles all revenue generated in April 2025 by casinos, along with fantasy contests and VGTs operated by other vendors and includes a comparison to total revenue generated in April 2024.

Source

April 2025

Total Revenue

April 2024

Total Revenue

% Change

Valley Forge Casino Resort

$99,090,172

$85,340,755

16.11%

Hollywood Casino at Penn National Race Course

$97,719,246

$78,343,398

24.73%

Rivers Casino Philadelphia

$56,209,401

$49,076,360

14.53%

Parx Casino

$54,211,940

$53,793,286

0.78%

Wind Creek Bethlehem

$47,825,103

$46,326,454

3.23%

Rivers Casino Pittsburgh

$27,533,445

$28,478,326

-3.32%

Hollywood Casino at the Meadows

$27,138,316

$26,007,948

4.35%

Live! Casino Philadelphia

$26,562,159

$24,304,441

9.29%

Harrah’s Philadelphia

$23,511,110

$21,071,057

11.58%

Mohegan Pennsylvania

$19,130,831

$20,024,953

-4.47%

Mount Airy Casino Resort

$17,803,898

$19,187,606

-7.21%

Presque Isle Downs and Casino

$13,732,651

$8,862,424

54.95%

Hollywood Casino York

$10,235,524

$8,450,128

21.13%

Live! Casino Pittsburgh

$9,585,109

$10,589,049

-9.48%

Golden Nugget

$7,670,389

$3,544,056

116.43%

Hollywood Casino Morgantown

$7,532,447

$7,330,347

2.76%

Video Gaming Terminals

$3,518,821

$3,648,270

-3.55%

Parx Shippensburg

$3,160,614

$3,125,398

1.13%

Bally’s Pennsylvania

$2,958,241

$3,812,426

-22.41%

The Casino at Nemacolin

$2,331,513

$2,138,432

9.03%

Fantasy Contests

$1,256,994

$1,228,294

2.34%

Statewide Total

$558,717,922

$504,683,409

10.71%

Total tax from games revenue during April 2025 was $234,493,926*.

 

April Revenue by Game Type

The PGCB is also providing a synopsis of revenue year-over-year by types of games: 

Type of Gaming Revenue

April 2025

April 2024

% Change

Retail Slots Revenue

$203,094,831

$205,485,828

-1.16%

iGaming Slots Revenue

$169,478,496

$126,013,832

34.49%

Retail Tables Revenue

$80,604,940

$78,482,947

2.70%

iGaming Tables Revenue

$55,892,309

$45,006,006

24.19%

Sports Wagering Revenue

$42,533,444

$42,412,510

0.29%

Video Gaming Terminals Revenue

$3,518,821

$3,648,270

-3.55%

iGaming Poker Revenue

$2,338,087

$2,405,721

-2.81%

Fantasy Contests Revenue

$1,256,994

$1,228,294

2.34%

Total Gaming Revenue

$558,717,922

$504,683,409

10.71%

 

Slot Machine Revenue

April’s revenue from the play of retail slot machines was $203,094,831, a 1.16% decrease in revenue when compared to the $205,485,828 generated in April 2024.

The number of slot machines in operation in April 2025 was 24,363 compared to 24,890 at the casinos in April 2024. 

Slot machine revenue for each of the casinos, with the percentage change reflected over the previous year, is as follows:

Casino

April 2025 Slots Revenue

April 2024 Slots Revenue

% Change

Parx Casino

$31,398,827

$31,627,184

-0.72%

Wind Creek Bethlehem

$22,484,142

$22,648,114

-0.72%

Rivers Casino Pittsburgh

$20,903,809

$21,552,173

-3.01%

Mohegan Pennsylvania

$15,066,512

$15,605,963

-3.46%

Hollywood Casino at the Meadows

$13,359,817

$13,791,981

-3.13%

Live! Casino Philadelphia

$12,578,702

$12,575,159

0.03%

Mount Airy Casino Resort

$11,989,812

$12,266,755

-2.26%

Rivers Casino Philadelphia

$11,807,479

$12,032,212

-1.87%

Hollywood Casino at Penn National Race Course

$11,528,692

$11,684,897

-1.34%

Valley Forge Casino Resort

$9,401,048

$9,035,378

4.05%

Harrah’s Philadelphia

$8,833,678

$9,080,862

-2.72%

Live! Casino Pittsburgh

$8,142,058

$9,126,484

-10.79%

Presque Isle Downs and Casino

$7,631,607

$7,476,168

2.08%

Hollywood Casino York

$7,560,618

$6,728,004

12.38%

Hollywood Casino Morgantown

$5,261,874

$5,338,456

-1.43%

Parx Shippensburg

$3,106,843

$3,040,633

2.18%

The Casino at Nemacolin

$2,039,313

$1,875,402

8.74%

Statewide Total

$203,094,831

$205,485,828

-1.16%

Tax revenue from the play of slot machines in April 2025 was $102,841,807*.

 

Retail Table Games Revenue

Retail Table Games revenue for April 2025 was $80,604,940, an increase of 2.70% from April 2024 when revenue was $78,482,947.

Table games revenue for each of the casinos, with the percentage change reflected over the previous year, is as follows.

Casino

April 2025 Table Games Revenue

April 2024 Table Games Revenue

% Change

Wind Creek Bethlehem

$23,971,086

$21,882,043

9.55%

Parx Casino

$16,102,523

$15,718,477

2.44%

Live! Casino Philadelphia

$9,233,598

$7,704,612

19.85%

Rivers Casino Philadelphia

$7,937,680

$6,993,058

13.51%

Rivers Casino Pittsburgh

$5,950,178

$6,154,381

-3.32%

Valley Forge Casino Resort

$2,883,706

$2,797,020

3.10%

Mount Airy Casino Resort

$2,380,314

$2,949,545

-19.30%

Harrah’s Philadelphia

$2,271,048

$2,071,503

9.63%

Mohegan Pennsylvania

$2,026,335

$2,662,142

-23.88%

Hollywood Casino at the Meadows

$1,632,924

$2,387,398

-31.60%

Hollywood Casino York

$1,496,542

$1,086,823

37.70%

Hollywood Casino at Penn National Race Course

$1,321,634

$2,176,702

-39.28%

Live! Casino Pittsburgh

$1,195,412

$1,375,312

-13.08%

Presque Isle Downs and Casino

$1,075,228

$1,319,443

-18.51%

Hollywood Casino Morgantown

$786,348

$870,996

-9.72%

The Casino at Nemacolin

$292,200

$263,030

11.09%

Parx Shippensburg

$48,185

$70,462

-31.62%

Statewide Total

$80,604,940

$78,482,947

2.70%

Total tax revenue from table games play during April 2025 was $13,496,060*.

 

Internet Casino-Type Gaming (iGaming) Revenue

Casino games offered online generated monthly gross revenue totaling $227,708,892 during April 2025. Compared to revenue of $173,425,559 in April 2024, this represents an increase of 31.30%.

A breakdown of revenue of casino games offered online is as follows:

Casino Operator

iSlots

Revenue

iTables Revenue

iPoker Revenue

Total iGaming Revenue

Hollywood Casino at Penn National Race Course

$57,479,821

$25,212,629

$498,895

$83,191,345

Valley Forge Casino Resort

$48,266,132

$18,464,415

$66,730,547

Rivers Casino Philadelphia

$31,127,572

$4,490,644

$266,573

$35,884,789

Harrah’s Philadelphia

$8,115,975

$2,670,850

$378,874

$11,165,698

Golden Nugget

$7,136,062

$534,327

$7,670,389

Parx Casino

$4,809,436

$960,916

$5,770,352

Live! Casino Philadelphia

$3,737,078

$861,343

$4,598,421

Mount Airy Casino Resort

$1,755,991

$510,777

$1,193,745

$3,460,513

Presque Isle Downs and Casino

$1,859,955

$1,253,532

$3,113,487

Bally’s Pennsylvania

$2,570,604

$387,637

$2,958,241

Mohegan Pennsylvania

$1,528,712

$301,957

$1,830,668

Wind Creek Bethlehem

$1,091,159

$243,283

$1,334,442

Statewide Total

$169,478,496

$55,892,309

$2,338,087

$227,708,892

Tax revenue generated from iGaming during April 2025 was $100,825,684*.

Total iGaming revenue for each of the casinos during April 2025 and April 2024, if applicable, is as follows:

Operator

April 2025
iGaming Revenue

April 2024
iGaming Revenue

% Change

Hollywood Casino at Penn National Race Course

$83,191,345

$62,315,703

33.50%

Valley Forge Casino Resort

$66,730,547

$48,092,985

38.75%

Rivers Casino Philadelphia

$35,884,789

$30,642,859

17.11%

Harrah’s Philadelphia

$11,165,698

$9,409,722

18.66%

Golden Nugget

$7,670,389

$3,544,056

116.43%

Parx Casino

$5,770,352

$4,990,916

15.62%

Live! Casino Philadelphia

$4,598,421

$3,436,705

33.80%

Mount Airy Casino Resort

$3,460,513

$3,956,965

-12.55%

Presque Isle Downs and Casino

$3,113,487

n/a

n/a

Bally’s Pennsylvania

$2,958,241

$3,812,426

-22.41%

Mohegan Pennsylvania

$1,830,668

$1,412,160

29.64%

Wind Creek Bethlehem

$1,334,442

$1,811,063

-26.32%

Statewide Total

$227,708,892

$173,425,559

31.30%

 

Sports Wagering Revenue

April 2025 total sports wagering handle was $711,569,216, 10.14% above the April 2024 total of $646,061,065. 

The taxable revenue figure for April 2025 was $42,533,444, or 0.29% higher when compared to April 2024, when taxable revenue was $42,412,510. 

April 2025 sports wagering total handle and revenue are as follows:

Casino Operator

Total

Handle2

Retail

Revenue

Online Revenue

Total Revenue

Valley Forge Casino Resort

$269,836,185

-$35,399

$20,110,270

$20,074,871

Hollywood Casino at the Meadows

$185,602,950

$53,276

$12,092,299

$12,145,575

Presque Isle Downs and Casino

$34,243,132

$31,271

$1,881,058

$1,912,329

Hollywood Casino at Penn National

$32,151,458

$72,749

$1,604,825

$1,677,575

Hollywood Casino Morgantown

$60,055,196

-$26,384

$1,510,609

$1,484,225

Harrah’s Philadelphia

$25,824,434

$134,774

$1,105,911

$1,240,686

Hollywood Casino York

$42,038,254

$918

$1,177,446

$1,178,364

Parx Casino

$14,986,726

$263,367

$676,869

$940,237

Rivers Casino Pittsburgh

$25,411,936

$218,799

$460,660

$679,459

Rivers Casino Philadelphia

$12,149,428

$66,794

$512,660

$579,454

Live! Casino Pittsburgh

$1,087,213

$247,640

$0

$247,640

Live! Casino Philadelphia

$5,490,455

$151,438

$0

$151,438

Mohegan Pennsylvania

$717,634

$117,077

$0

$117,077

Mohegan Lehigh Valley1

$712,790

$90,238

$0

$90,238

Wind Creek Bethlehem

$828,888

-$620

$36,053

$35,434

Parx Shippensburg

$42,879

$5,585

$0

$5,585

Mount Airy Casino Resort

$389,661

-$26,742

$0

-$26,742

Statewide Total

$711,569,216

$1,364,783

$41,168,661

$42,533,444

Operated by Mohegan Pennsylvania

A breakout of the handle between retail and online sportsbooks can be found on the website report.

Sports wagering revenue for each of the casinos and plus the one Off Track Betting facility during April 2025 and April 2024, if applicable, is as follows:

Operator

April 2025 Sports Wagering Revenue

April 2024 Sports Wagering Revenue

% Change

Valley Forge Casino Resort

$20,074,871

$25,415,372

-21.01%

Hollywood Casino at the Meadows

$12,145,575

$9,828,569

23.57%

Presque Isle Downs and Casino

$1,912,329

$66,814

2762.17%

Hollywood Casino at Penn National Race Course

$1,677,575

$2,166,095

-22.55%

Hollywood Casino Morgantown

$1,484,225

$1,120,894

32.41%

Harrah’s Philadelphia

$1,240,686

$508,970

143.76%

Hollywood Casino York

$1,178,364

$635,301

85.48%

Parx Casino

$940,237

$1,343,210

-30.00%

Rivers Casino Pittsburgh

$679,459

$771,772

-11.96%

Rivers Casino Philadelphia

$579,454

-$591,769

-197.92%

Live! Casino Pittsburgh

$247,640

$87,253

183.82%

Live! Casino Philadelphia

$151,438

$587,965

-74.24%

Mohegan Pennsylvania

$117,077

$168,079

-30.34%

Mohegan Lehigh Valley2

$90,238

$176,609

-48.91%

Wind Creek Bethlehem

$35,434

-$14,766

-339.96%

Parx Shippensburg

$5,585

$14,302

-60.95%

Mount Airy Casino Resort

-$26,742

$14,342

n/a

South Philly Race & Sportsbook1 3

n/a

$113,499

n/a

Statewide Total

$42,533,444

$42,412,510

0.29%

1Operated by Parx Casino

Operated by Mohegan Pennsylvania

3 No longer operating

Tax revenue generated from sports wagering during April 2025 was $15,312,040*.

 

Video Gaming Terminals

Total adjusted revenue for April 2025 for video gaming terminals (VGTs) was $3,518,821, 3.55% lower than April 2024 when revenue was $3,648,270. By the end of April 2025, all VGT Operators offered the maximum permitted five machines at each of the 74 qualified truck stop establishments, compared to five machines at each of the 74 establishments at this time last year.

Truck Stop VGT adjusted revenue for each of the terminal operators during April 2025 is as follows:

VGTs Terminal Operator

April 2025 VGT Revenue

April 2024 VGT Revenue

% Change

Marquee by Penn1

$2,407,652

$2,388,864

0.79%

J&J Ventures Gaming2

$800,157

$960,004

-16.65%

Jango3

$311,012

$249,650

24.58%

Accel Entertainment Gaming5

$0

$4,696

n/a

Venture Gaming LLC4

$0

$45,056

n/a

Statewide Total

$3,518,821

$3,648,270

-3.55%

1 operated VGTs in 32 establishments during April  

2 operated VGTs in 27 establishments during April  

3 operated VGTs in 13 establishments during April 

4 operated VGT’s in 2 establishments but were not operational during April 

5 operated VGTs in no establishments during April

Tax revenue collected from the play of VGTs in April 2025 was $1,829,787*.

 

Fantasy Contests

Fantasy Contests revenue was $1,256,994 in April 2025, an increase of 2.34% over April 2024, when revenue was $1,228,294

Fantasy Contests Operator

April 2025 Fantasy Revenue

April 2024 Fantasy Revenue

% Change

DraftKings

$945,998

$915,949

3.28%

FanDuel

$181,113

$211,873

-14.52%

Underdog Sports, Inc.

$114,632

$84,085

36.33%

Yahoo Fantasy Sports

$10,635

$11,038

-3.65%

Fantasy Sports Games LLC

$2,760

$3,460

-20.24%

Sportshub Technologies

$1,937

$1,844

5.03%

OwnersBox

-$81

$37

-316.83%

Jock MKR

n/a

$8

n/a

Statewide Total

$1,256,994

$1,228,294

2.34%

Tax revenue collected from the play of Fantasy Contests in April 2025 was $188,549*.

*All tax revenue figures reflect amount generated prior to any adjustments by the PA Department of Revenue

 

The post PA Gaming Control Board Reports a Nearly 11% increase of Gaming Revenue in April appeared first on Gaming and Gambling Industry in the Americas.

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Chris Albrecht

Caesars’ Temporary Casino Generates $222M in Gaming Revenue Since Opening Last Year

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The temporary Caesars casino has generated $222 million in gaming revenue since opening last Year.

Meanwhile, construction continues on the permanent casino right next door.

Danville has received nearly $20 million of that as part of their agreement – $7 million more than expected.

“We figured it would be more, but we didn’t know it was gonna be this much more. That’s all great, actually, because it’s a temporary facility. It’s in a tent. They don’t have near the number of games that they would have in the full casino,” said Ken Larking, Danville City Manager.

Larking says the money is going toward neighborhood parks, school improvements, economic development and more.

“We want to invest in what would grow our city including more businesses, more opportunities for jobs, better quality of life, better recreational amenities, better education, workforce development, those are the kinds of things that we’re investing in,” Larking added.

General Manager Chris Albrecht says the temporary casino sees around 100,000 visitors per month. He expects that number to grow substantially once the permanent casino opens.

“That’s really going to bring a lot more customers from further away when we have all the offerings from the hotel, the restaurants, the entertainment meeting space, the pool, and the spa. It’s going to drive visitation from even further and further away. So, we’re really excited to move next door here in the next few months,” Albrecht said.

Their current staff will also jump from about 400 people to around 1200.

“Those jobs are number one and that incremental revenue to the city will help support existing businesses and hopefully new investment into this market as well,” Albrecht said.

They say the permanent casino is still on track to open by the end of the year.

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Dodge & Cox

US Investment Firm Dodge & Cox Doubles Stake in Entain to 10%

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UK-listed gambling company Entain has revealed that US fund management group Dodge & Cox last week doubled its stake.

The investment, which took its shareholding from 5.01% to 10.33%, took place on the same day Entain reported an update for the third quarter, during which group net gaming revenues rose 7% year-on-year.

As of the Ladbrokes owner’s closing share price on 1 November, the day before the investment, a 5.22% stake would have been worth around £310m.

Entain said on 2 November that it was on track to meet the upper end of its net gaming revenue guidance of $1.8bn to $2.0bn for the full year.

Dodge & Cox is a San Francisco-based investment manager with $323bn in assets under management as of the end of 2022.

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