Gaming services provider Light & Wonder has reported continued revenue growth for the last 13 quarters.
According to a recent company announcement, consolidated revenue for the second quarter rose 12 per cent to US$818 million (MOP6.57 billion).
Apart from the 13th consecutive quarter of year-over-year expansion, the advancement also marks the eighth back-to-back quarter of double-digit growth in revenue – propelled by robust performances across all business divisions.
Gaming revenue climbed 14 per cent – largely thanks to continued growth in gaming equipment sales that was up 32 per cent year on year that quarter – with Australia and Macau the biggest sales drivers.
The company also reported a 14 per cent rise in gaming systems, and 5 per cent in gaming operations revenue.
SciPlay and IGaming revenue grew by 8 per cent and 6 per cent, respectively.
Between April and June, net income stood at US$82 millioin, versus US$ 5 million observed in the same quarter last year.
Consolidated AEBITDA, meanwhile, rose 17 per cent to US$330 million year on year.
Operating activities generated some US$141 million in net cash, up from US$34 million previously. Free cash flow was also reported to have surged to US$70 million from US$24 million.
In an earnings call on the Q2 performance, Matthew Wilson, chief executive officer of Light & Wonder, said he was happy to see the Asian market “back in full stride” post-Covid.
“What’s growing our business at the moment is really those traditional Asian markets, so Singapore, Macau, the Philippines, a lot of activity in that space,” he said.
“So feeling really good about the opportunities in front of us for those markets, and that will be a multi-year opportunity.”
