Light & Wonder aims to reach US$ 1.4 billion in AEBITDA by 2025. Matt Wilson, the executive of this influential gaming organisation, has expressed the company's strong commitment to completing long-term goals as part of its growth strategy.
Rebuilding the Group
Mr Wilson stated in an interview that his firm has high confidence in achieving its target earnings. The expert mentioned that during the Covid pandemic, L&W was in significant debt and had to change its strategy by rearranging management to overcome the challenges.
The company decided to place certain parts of its business for sale, generating approximately US$ 6 billion, which was used to strengthen the weak areas.
The official highlighted that L&W was formerly operating as Scientific Games and encompassed various assets, including lottery, sports systems and other types of content.
The group managed to grow into a cross-platform global company. Its 3 main areas of focus are as follows:
- land-based niche;
- social casino sphere (SciPlay Corp);
- iGaming segment.
Mr Wilson also emphasised that the studio performed well in the 1st quarter of 2023, with double-digit growth across all segments.
Achievements of the Company
With the debt lifted, L&W has been able to put more in:
- analysis and advancement;
- capital investments;
- user acquisition activities.
The executive mentioned that all their businesses are well-positioned for growth in the coming years. In the opening quarter of 2023, the group earned revenue of US$ 670 million, a 17.1% increase compared to the previous year. The growth was driven by strong performance in all business segments, including some record revenues for online gambling and SciPlay.
The provider also reported US$ 27 million in net profits in the first quarter. This is a significant improvement compared to a loss of US$ 67 million in the same period last year.
The representative highlighted that secondary listing in Australia is the next turning point in the group's strategic evolution. The enterprise has already received approval from the ASX, signalling the company's further expansion and commitment to the local market.
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