The company is a renowned gambling products provider with a large assortment of software for operators. The expansion across the Asian gaming arena is tactically crucial for the developer, as stated by Matt Wilson, the company’s CEO. That is why Light & Wonder grows its influence in the Philippines.
Expansion Prospects
Matt Wilson mentioned that Macau would remain their primary market as their experience in the region is decades-long.
More important details given by the CEO are the following:
- The recovery after the Coronavirus pandemic was harsh for the region, and current expansion plays a crucial role for the brand and the company’s clients.
- The developer currently has the largest share of the market and focuses on continuing this tendency with time.
- Light & Wonder will favour a lot from the expansion of the Philippines entertainment sphere, considering how rapidly the niche is advancing.
While neighbouring regions like Singapore also possess giant profit value for the developer, the recovery rate of the Philippines is highly beneficial for the brand and operators.
Reasons to Move Outside Macau
In 2023, the local authorities presented the slot capacity for the next 10 years, which is set to 12,000. With this in mind, the competition between product manufacturers increases since operators are now only eager to get the best machines.
That is why the introduction of Light & Winder’s amusement in neighbouring markets will facilitate the brand's popularity and recognition. Preparations for further expansion are also strong: Jin Ji Bao Xi Grand is a highly anticipated slot that will be released in Asia next year.
Strategy Execution
With his official promotion to the CEO position in 2022, Matt Wilson points out the aims that have already been and are to be achieved:
- Light & Wonder managed to earn over $ 280 million in the second quarter of 2023, with a rise of almost 33%, overlooking the previous year.
- The company’s authorities set a goal of reaching an EBITDA of $ 1.4 billion, which is expected to be hit by 2025.
- Besides Asia, the organisation actively advances to the Australian market, with investors anticipating even stronger growth in the area.
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