Light & Wonder has recorded double digit growth for a ninth consecutive quarter as the supplier managed to avoid being significantly hindered by the removal of Dragon Train terminals across North America.
The firm revealed that of its approximately 2,200 units of Dragon Train-themed games, 95% have been removed or converted with another game from its portfolio of game franchises. It anticipates that Dragon Train 2 will be released in the near future.
Positive performance for the firm in North America played a key part in it landing a gaming revenue increase to $537m, up 15% compared to the prior year period. This was also fuelled by a global Gaming machine sales growth of 38%, whilst igaming revenue increased by 6% to $74m.
Matt Wilson, President and CEO of Light & Wonder, said: “Our results once again reflect the relentless collective efforts of the talent across our organisation underpinned by our robust and scalable R&D platform. At G2E and AGE, we showcased a wide array of products that demonstrated the diversity and strength of our portfolio and franchises.
“We will continue to execute on our cross-platform strategy focused on innovative content and products as a leading global end-to-end gaming technology solutions provider. Our team is committed and engaged as we stay on course through the execution chapter of our journey to reach our target.”
Meanwhile, SciPlay revenue was bolstered to $206m, a 5% increase from the prior year period, at the heart of this growth was the company’s social casino business. Furthermore, this was enhanced by the continuation of delivering ‘consistently high player engagement and monetization, leveraging game content, dynamic Live Ops through the SciPlay Engine and effective marketing strategies’.
Nonetheless, net income suffered a slight dip to $64m from $80m, with the company citing the impact of higher restructuring and other costs ‘related to certain legal matters’.
Free cash flow also saw a dip to $83m from $123m, as a result of negative shifts in working capital.
Oliver Chow, Chief Financial Officer of Light & Wonder, added: “The highly cash generative nature of our business, combined with a healthy balance sheet and strategic capital allocation program, has proven to be a strong framework to create shareholder value.
“We plan to further accelerate this value creation flywheel through continued R&D and capex investments, as well as through financial means such as our share repurchase program. We stay highly convicted to our strategy and roadmap as we reaffirm our 2025 $1.4bn Consolidated AEBITDA target(1) and look to remain a compounder of growth for years to come.”
EveryMatrix has partnered with BetBlocker and the Responsible Gaming Foundation (RGF) as part of a collaborative project to support safer gambling in Malta.
Launched as part of European Safer Gambling Week 2024, the project will see a Maltese version of BetBlocker’s blocking software created, supporting players in Malta looking to manage their gambling access. The partnership will also help raise awareness of the service.
“We’re delighted to be able to support BetBlocker and the RGF with this important initiative in Malta, particularly in time for Safer Gambling Week,” commented Jake Cachia, Head of Compliance at EveryMatrix.
“EveryMatrix is proud of its commitment to safer gambling and player protection while producing market-leading gaming solutions, and partnerships such as underlining how crucial it is to keep making a difference.”
A UK-registered charity, BetBlocker blocks a device from accessing over 85,000 gambling websites and 1,500 gambling apps. A free-to-use app, the service can be used anonymously and it currently supports tens of thousands of active users.
Duncan Garvie, Founder and Trustee for BetBlocker, noted: “One of the biggest challenges for BetBlocker is ensuring that a technologically complex app is as simple as possible for users to set up. Currently, BetBlocker can take a user from download to blocked in under two minutes.
“But that is only the case where the user finds the set-up instructions easy to engage with. Where a user is able to access BetBlocker in the language that they are most confident in, the chances of them converting to an active block is far higher.
Garvie continued: “We’re really grateful to EveryMatrix and the RGF for their partnership on this project. It significantly improves the options for Maltese players and will go a long way in terms of raising awareness of the support that BetBlocker offers amongst MGA licensees.
“We hope that in the future, the MGA will advance their player protection standards with the inclusion of requirement for licensees to signpost blocking software to ensure players are aware of this option.”
Kevin O’Neill, General Manager for the Responsible Gaming Foundation, added: “The Responsible Gaming Foundation is proud to collaborate with BetBlocker and Everymatrix on this initiative, furthering our mission to support safer gambling practices in Malta.
“Translating BetBlocker into Maltese is a significant step towards accessibility and inclusivity, ensuring that players can effectively manage their gambling habits in their native language.
“This project demonstrates the power of partnerships in enhancing player protection and underscores the importance of providing players with tools that promote responsible decision-making.
“As we launch this initiative during European Safer Gambling Week 2024, we remain committed to contributing to an environment where innovative solutions, such as BetBlocker, can meaningfully impact safeguarding our community.”
