Light & Wonder, a cross-platform global games company, reported its results for Q4 and the full year of 2023, delivering its 11th consecutive quarter of consolidated revenue growth and its sixth consecutive quarter of double-digit growth year-over-year.
The company achieved a 16% increase in full year consolidated revenue with a record $2.9 billion.
Fourth quarter results
A 31% increase in gaming machine sales spurred $496 million in total gaming revenue for the fourth quarter, which was a 13% increase compared to the same period last year.
iGaming revenue continued its positive momentum in both U.S. and international markets, driving $70 million for the quarter as well, which was also a 13% increase from the prior year.
Consolidated revenue in the quarter grew 13% overall.
'A banner year'
Matt Wilson, president and CEO of Light & Wonder, reveled in the company’s performance.
“2023 was a banner year for Light & Wonder," he said. "Our businesses delivered double-digit growth across the board throughout the year, enabled by strategic investments and strong execution.”
The company saw $170 million of capital returned to shareholders through its share repurchases during 2023.
Light & Wonder successfully completed its acquisition of SciPlay in October. SciPlay achieved a quarterly revenue record for the sixth consecutive quarter in Q4, with its social casino business driving $204 million, a 12% increase from the prior year period.
CFO Oliver Chow pointed to the company’s trajectory moving forward.
“We will focus on driving sustainable growth and executing against our balanced and opportunistic capital allocation strategy with discipline, driving value for all stakeholders,” Chow said.
