Matt Wilson, President and CEO of Light & Wonder, outlined his vision for the company’s future during the Q2 earnings call, revealing that most of their games have already been launched, so as market evaluation deepens, the level of gaming might return to normal.
He added that the company will refocus on R&D investments because they are hopeful about expanding their scale and surpassing the social casino industry as they continue to witness market growth.
Moreover, the group's huge success in North America has also bolstered its endeavors in the online gambling sector, with online gambling revenues seeing a 6% yearly growth, reaching $74 million.
During the earnings call, Wilson provided investors with further insights about SciPlay, revealing that with direct-to-consumer businesses taking center stage in Q2, “Q2 was significantly more important than Q1,” thus the company is “maintaining good operational momentum.”
He also analyzed the impact of the lottery market on competition, noting that the market is currently in an “interesting legal environment,” yet he stated that given the nature of their games, it remains competitive for L&W.
"This isn't a field we intend to join, but it's one we are closely monitoring," Wilson said during an investor inquiry.
Additionally, he highlighted that Japan, UAE, and Thailand, as emerging markets, will provide diverse positive opportunities in the coming years, further enhancing the optimistic outlook on emerging markets.
Wilson added, when they go beyond the traditional markets in Asia, that's when the real expansion opportunities arise.
