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Light & Wonder, Inc. Reports Second Quarter 2024 Results

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Light & Wonder, Inc.  reported results for the second quarter ended June 30, 2024.

We maintained strong momentum in the second quarter, delivering an 8th consecutive quarter of double-digit consolidated revenue growth year-over-year, and continued execution on our diverse content roadmap and cross-platform strategy. Consolidated revenue grew 12%, driven by continued strong performance across all our businesses, resulting in robust earnings growth:

  • Gaming revenue increased to $539 million, up 14% compared to the prior year period, primarily driven by global Gaming machine sales growth, which increased 32%, coupled with record Gaming operations unit expansion in the North American installed base and growth across Gaming systems, resulting in AEBITDA growth and margin expansion of 17% and 100 basis points, respectively.
  • SciPlay revenue grew to $205 million, an 8% increase from the prior year period, driven by the social casino business, which continues to outpace the market and gain share on strong payer metrics, while growing our direct-to-consumer platform and expanding AEBITDA margin by 300 basis points.
  • iGaming revenue grew to $74 million, a 6% increase from the prior year period, primarily reflecting continued momentum in North America, while the prior year benefited from $2 million in license termination fees.

First half 2024 consolidated revenue increased 13% to $1.6 billion as we continued advancement towards our long-term financial targets and returned $175 million to our shareholders through share repurchases.

Matt Wilson, President and Chief Executive Officer of Light & Wonder, said, “Light & Wonder continues to capitalize on opportunities underpinned by our scale and diversified product offerings as demonstrated through the growth momentum across the business. We saw strong progress in the Gaming business as the expansion of units in the North American installed base reached an inflection point. Our global presence enables further product refinement and market penetration with our suite of games and casino solutions. We continue to develop our catalog of proven, evergreen franchises to bring the most engaging experiences to our players, leveraging the power of our portfolio across land-based, social and iGaming platforms. The uplift that we have continued to see across the business is a testament to the quality of the talent and culture in our organization. I am pleased with the continued momentum that we are seeing and know that the best is yet to come.”

Oliver Chow, Chief Financial Officer of Light & Wonder, added, “Our 13th consecutive quarter of consolidated revenue growth once again reflects the strength of our combined business and solid financial profile. We continue to see improved earnings quality with consistent growth and healthy margins, all while investing back into the business to scale for the future. The new $1.0 billion share repurchase program is a testament to the value we see in the business and confidence in our ability to execute to plan over the long-term. We believe we will continue to create significant value for our shareholders through enhanced cash flow generation initiatives while delivering on our financial targets.”

LEVERAGE AND CAPITAL RETURN UPDATE

  • Principal face value of debt outstanding(1) was $3.9 billion, translating to a net debt leverage ratio(2) of 3.0x as of June 30, 2024. Our net debt leverage ratio(2) decreased by 0.1x from December 31, 2023, and remained within our targeted net debt leverage ratio(2) range of 2.5x to 3.5x.
  • Returned $175 million of capital to shareholders through the repurchase of approximately 1.8 million shares of L&W common stock during the first half of 2024 and completed the full $750 million share repurchase authorization. Under the initial share repurchase program, we purchased 11.2 million common shares, or 11.6% of shares outstanding at the inception of the program on March 1, 2022. The average purchase price of $66.72 per share represents a 34% discount to yesterday’s closing price of $100.71. In June 2024, the Board of Directors approved a new three-year share repurchase program(3) of up to $1.0 billion of the Company’s outstanding common stock through June 12, 2027.
  • Repriced our Term Loan B again in July 2024, reducing our interest rate by 50 basis points resulting in a decrease in annualized interest costs of approximately $11 million, or $19 million in annualized interest costs reduction including our January repricing.

(1) Principal face value of debt outstanding represents outstanding principal value of debt balances that conform to the presentation found in Note 10 to the Condensed Consolidated Financial Statements in our March 31, 2024 Form 10-Q.

(2) Additional information on non-GAAP financial measures presented herein is available at the end of this release.

(3) The program may be conducted via open market repurchases, privately negotiated transactions, including block trades, accelerated share repurchases, issuer tender
offers or other derivative contracts or instruments, “10b5-1” plans, or other financial arrangements, and may be suspended or discontinued at any time.

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Legacy of Lost Gold: Explore the Depths of the Jungle With ELA Games’ Latest Release

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August 18, 2025

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Swing from the vines, exploring the jungle and its dense foliage for unimaginable riches! Various jungle animals join you in your quest to find gold, where each spin gives you plenty of opportunities. 

ELA Games presents its newest release: Legacy of Lost Gold. Are you ready for the adventure?

The Heroes of the Jungle

Legacy of Lost Gold’s crown jewel is its Hold & Win Bonus Game. Here, various jungle companions and heroes show up in the special top row, each bringing their unique power-up to help players on their quest:

  • Collect all visible coins for an instant payout
  • Boost every coin by +1
  • Upgrade the reel below by +1 to +5
  • Multiply the reel below by x2

 

Additionally, respins will continue as long as new symbols land on the main bonus grid, giving players even more chances to stack their treasures high. Each time a hero arrives, the game’s intensity rises as the chance of juicy rewards increases!

ELA Games’ Latest Expedition

Legacy of Lost Gold is an example of the studio’s approach to game development: high-energy gameplay, visually-rich aesthetics, and engaging mechanics so players can have constant fun from the first spin to the last.

Yaroslav Soloshenko, ELA Games’ Business Development Team Lead, commented on the new release, “The team loves looking for new ways to keep players engaged and invested… not just in winning, but in the journey itself. Legacy of Lost Gold adds to the immersion with characters that help along the way, creating an experience that players resonate with. In this game, you’re not just chasing the next win; you feel like the main character, where each spin could be impactful.”

 

Play Now!

The gold is out there… just waiting for someone to swoop in and take it. It’s not going to find itself! Play Legacy of Lost Gold today and see if you can discover the hidden riches.

Demo Now

The post Legacy of Lost Gold: Explore the Depths of the Jungle With ELA Games’ Latest Release appeared first on European Gaming Industry News.

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247Bet Is Here: Casimba Gaming Unveils New Sportsbook Brand

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21 minutes ago

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August 18, 2025

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Casimba Gaming is proud to announce the launch of 247Bet, a dynamic new sportsbook brand designed to deliver a cutting-edge, multi-channel betting experience.

Casimba Gaming is a leading B2C and B2B iGaming provider, powering more than 20 casino brands with a full-stack platform, including over 6,000 titles from 75+ providers.

Speaking on the launch of 247Bet, Chief Product Officer Jon Liska said, “Building on the success of our leading casino offering, we’re expanding into sports betting to give our customers the ultimate choice in gaming entertainment. 247Bet will offer a seamless customer journey with modern user experiences, giving customers the ability to find the sports, markets, and content they want faster than ever.”

Initially launching under White Hat Gaming’s UKGC licence, 247Bet will cater to the UK market, with strategic plans to expand under the MGA licence to additional markets where Casimba Gaming already operates.

Liska adds, “With 247Bet, we wanted to build a brand that feels fresh, intuitive, and engaging from the very first tap. Our initial focus is the UK, but we will be looking to expand this to wider European markets, key Nordic Sports, principal North American and other global markets.”

Known for its global footprint and with an established integration with White Hat Gaming’s casino platform, Altenar’s platform will be used to power the sportsbook product. Altenar provides a robust solution, equipped with promotional tools and features for a market-leading betting site.

To enhance player engagement, 247Bet is also leveraging Smartico’s industry-leading gamification technology and CRM functionality and is working in partnership with NetRefer to build a high-performing affiliate programme as a key acquisition channel.

Dersim Sylwan, CEO of Casimba Gaming added, “The launch of 247Bet is a proud moment for Casimba Gaming and a natural next step in our evolution. This bold move is part of our vision to create a hero brand with global appeal; delivering a world-class, multi-channel experience that excites players everywhere.”

As part of the long-term strategy, Casimba Gaming is actively hiring a Sportsbook Product Manager to lead the brand’s promotional roadmap, content strategy, and overall performance.

To find out more, visit https://247bet.com/

The post 247Bet Is Here: Casimba Gaming Unveils New Sportsbook Brand appeared first on European Gaming Industry News.

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Lim “Ulsan” Soo-hoon Fights off the Competition to Reign as TEKKEN 8 at 2025 Esports World Cup Champion, Securing Back-to-Back EWC Titles

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August 18, 2025

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Lim “Ulsan” Soo-hoon has claimed the TEKKEN 8 at EWC 25 crown having beaten Yoon “LowHigh” Sun-woong in a 5-2 grand final finish. His victory secures DN Freecs their first win at EWC 25 as he takes home $250,000 of the $1,000,000 prize pool.

Lim “Ulsan” Soo-hoon had a strong run at EWC 25, losing just one series against Kim “Kkokkoma” Mu-jong in the first match of the second phase. From that point on, however, he went unbeaten on his way to the grand final, even taking down Kim “Kkokkoma” Mu-jong for revenge on his way back from the lower bracket.

In the semifinals, Lim “Ulsan” Soo-hoon booked his place in the grand final with a 5-3 finish over Kim “CherryBerryMango” Jae-hyun, securing his second EWC TEKKEN 8 grand final in a row. Ulsan showcased his mastery of Dragunov throughout the grand final, setting the scene with a decisive victory in the first set, before taking the title in the seventh set with a 5-2 win.

His grand final opponent, Yoon “LowHigh” Sun-woong, took down Team Vitality’s Jeon “JeonDDing” Sang-hyun in a 5-2 finish to lock his place in the grand final. The former EVO champion displayed his Bryan skills throughout the final against Ulsan, but it wasn’t enough to overcome the overall winner.

“I never expected this. I cannot imagine I would win again. I mean, this year I had a rough start; there was a nerf to Dragunov, I had a lot of difficulties – I wanted to prove myself on this stage, and I have done it,” said Lim “Ulsan” Soo-hoon. “It’s been like a dream to be here. Thank you to those who support me from everywhere, my team, my friends, all my partners, and especially the Kingdom of Saudi Arabia for making this the biggest tournament in the world.”

“I’m still hungry. I just want to make myself a legend,” said Lim “Ulsan” Soo-hoon.

Lim “Ulsan” Soo-hoon secured 1000 Club Championship points for DN Freecs, who, as a result, jumped up to joint-eleventh place in the Club Championship standings, with 1200 points. Despite having three players in the top eight, DN Freecs will only receive one lot of points.

It was a disappointing showing from Team Falcons in TEKKEN 8, as all three representatives were eliminated before earning any points. With only a few games left to earn points, Team Falcons had high hopes for TEKKEN 8. Elsewhere, Twisted Minds, who secured victory earlier in the day in PUBG, failed to make it two for two on Saturday, also failing to score points in TEKKEN 8 as Arslan “Arslan Ash” Siddique was eliminated by overall winner, Lim “Ulsan” Soo-hoon.

The post Lim “Ulsan” Soo-hoon Fights off the Competition to Reign as TEKKEN 8 at 2025 Esports World Cup Champion, Securing Back-to-Back EWC Titles appeared first on European Gaming Industry News.

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