Light & Wonder has released its second quarter 2024 financial results, showing its 13th consecutive quarter of year-over-year revenue growth. Consolidated revenue was $818 million, up 12 percent year-over-year.
Gaming revenue was $539 million, up 14 percent year-over-year. Slots sales growth increased 32 percent. SciPlay revenue grew to $205 million, up 8 percent year-over-year, driven by its social casino business. Gaming revenue grew to $74 million, up 6 percent.
Matt Wilson, president and CEO of Light & Wonder, said:
Light & Wonder continues to capitalize on opportunities underpinned by our scale and diversified product offering, as demonstrated by growth momentum across the business. We have seen significant progress in the gaming business as divisional expansion across the installed base in North America has reached an inflection point. Our global presence allows us to enhance our product and penetrate the market with our suite of casino games and solutions.
Oliver Chow, CFO of Light & Wonder, added:
Our 13th consecutive quarter of consolidated revenue growth again reflects the strength of our combined business and solid financial profile. We continue to see improving revenue 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 the confidence we have in our ability to execute on our plans over the long term. We believe we will continue to create significant value for our shareholders through enhanced cash flow generation initiatives, while achieving our financial targets.
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