Light & Wonder has kept its growth streak alive in early 2025. The company shared its financial update for the first quarter, posting a slight increase in revenue and stable profit while also highlighting key developments in its gaming and iGaming segments.
Good to know
- Light & Wonder has reported 16 straight quarters of year-over-year revenue growth.
- $25.2 billion in wagers were processed through its iGaming platform in Q1.
- The company bought back 1.9 million shares for $166 million during the quarter.
Revenue for Q1 2025 reached $774 million, a 2% increase from last year. Net income held steady at $82 million, roughly flat compared to the same period in 2024. Despite this, the company’s adjusted earnings before interest, taxes, depreciation, and amortization (AEBITDA) rose by 11%, landing at $311 million.
Much of the revenue growth came from the core gaming segment, which brought in $495 million for the quarter—up 4% year-over-year. Gaming operations generated $173 million, gaming machine sales added $208 million, and the rest came from gaming systems and table products, which earned $63 million and $51 million, respectively.
CEO Matt Wilson said, “Our R&D investment, vast array of product offerings and comprehensive content strategy continue to deliver success in game deployment and franchise expansions.” He also expressed confidence in the roadmap ahead and its ability to push performance across all units.
iGaming also helped boost performance, with revenue increasing by 4% year-over-year to reach $77 million. Light & Wonder noted strong momentum in North America and expansion within its partner network. A record-breaking $25.2 billion in wagers were processed through its iGaming platform during the quarter, showing strong user activity.
Meanwhile, the company’s SciPlay segment slipped slightly, posting a 2% revenue decrease to $202 million. This was mainly due to a drop in average monthly payers from Jackpot Party Casino. However, average monthly revenue per paying user improved, which helped ease the impact. The SciPlay segment still managed a 3% rise in AEBITDA, ending the quarter at $64 million.
Gaming and iGaming segments saw AEBITDA increases of 9% and 8%, reaching $254 million and $27 million, respectively.
In addition to operational updates, Light & Wonder also spent $166 million to repurchase around 1.9 million shares of its common stock during the quarter.
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