Light & Wonder's Q4 2024: Unpacking Contradictions in Gaming Growth, M&A, and iGaming Strategy

These are the key contradictions discussed in Light & Wonder's latest 2024Q4 earnings call, specifically including: Gaming Operations Growth and M&A Strategy:



Revenue and Profit Growth:
- Light & Wonder reported consolidated revenue of $3.2 billion for the year, a 10% increase from the prior year, with $797 million in Q4, up 4% year-over-year.
- The growth was driven by strong performance across their business units, particularly in Gaming, SciPlay, and iGaming.

Gaming Operations and Market Share:
- Gaming unit reported revenue of $515 million in Q4, up 4% from the prior year.
- The growth was attributed to increased installed base footprint, with more than 850 units added in North America and achieving the number one ship share position in North America for the fourth quarter.

SciPlay Performance:
- SciPlay's full year revenue grew 6% to $821 million, with Q4 revenue at $204 million.
- The growth was driven by strategic user acquisition spend, expansion of the direct-to-consumer platform, and increased average revenue per daily active user and paying user.

iGaming Expansion:
- iGaming revenue increased 11% year-over-year to $78 million in Q4, with AEBITDA up 9%.
- This growth was supported by strong content launches and momentum in North American and European markets.