Light & Wonder (ASX: LNW) banks on new hardware and content launches to drive 2024 revenue growth.

Mon 20 May 24, 05:09 AM | Team Kalkine

Image source: © G0r3cki | Megapixl.com

Highlights

Earlier known as the Scientific Games Corporation, Light & Wonder Inc. (ASX: LNW) is an American firm which offers gambling products and services, including casino management systems, shuffling machines, slot machines and table games.

In the first quarter of financial year 2024 (1QFY24), revenue of the company grew by 13% YoY to USD 756 million, backed by higher performance across all lines of business. During the reported period, adjusted EBITDA increased by 13% YoY to USD 281 million, net income increased to USD 82 million, underpinned by consistently higher margins and revenue growth, along with decrease in amortization and depreciation, restructuring and other costs.

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