Light & Wonder has lauded a Q2 revenue boost of 12.4% to $471m, boosted by “strong momentum” from the firm’s gaming offering.
Consecutive periods of growth for the firm’s gaming output was secured by a myriad of key releases, including the success of its Squid Games launch.
The versatility of the supplier was underlined by its continued success within the Eilers and Fantini report, where its games continue to rank high.
It marks the acceleration of an upward trajectory for the group as it celebrates a 13th straight quarter of year-on-year consolidated revenue growth.
Furthermore, there was also considerable success with the omni channel strategy of the group, as the Huff N more Puff title enhanced engagement globally for the firm.
Updating investors, Light & Wonder President and CEO Matt Wilson underlined that the success of the firm is evident when it comes to sales of its units across North America as it looks to continue to expand its “robust portfolio”.
Looking ahead he did reveal that the firm has rolled out the lion’s share of games now, so will likely see levels normalise as it deepens its assessment of the market.
He added there will be a renewed focus from the firm on R&D investment as it looks to scale up with the market and outpace the social casino sector, whilst they remain bullish on scaling ambitions.
Furthermore, the igaming efforts of the firm were bolstered by the group’s significant success in North America, as it saw a 6% annual increase to $74m.
Providing comment to investors, during the firm’s earnings call, Wilson provided further insight into SciPlay, as he revealed that there is “good operating momentum” for the firm as Direct to Consumer took centre stage during the second quarter, taking a “huge step up from Q1 to Q2 in terms of importance”.
He also analysed the competitive impact of the sweepstake market, which is currently under an “interesting legal landscape”, however he did state his belief that, given the nature of the games they are providing, they are competitive for L&W.
“It’s not something that we intend on participating in, but it is a sector that we are watching very closely”, stated Wilson when quizzed by investors.
There was also enhanced optimism for new emerging markets as he pinpointed the big three of Japan, the UAE and Thailand as providing significantly positive opportunities for diversification in the coming years.
Wilson added that there are real opportunities for expansion when they grow beyond the traditional markets already established in Asia.
