Gaming provider Light & Wonder’s newly-appointed President and Chief Executive Officer (CEO) Matt Wilson announced his goals for a streamlined business to achieve further growth.
The announcement follows the company’s latest quarter (Q3) findings – from July to September 2022.
With Light & Wonder now operating across gaming, igaming and social gaming, Wilson said this new approach will allow the group to advance in the next quarter and beyond.
“Our strategy is in place, and we are taking share with our robust R&D engine and best-in-class talent,” Wilson said.
Light & Wonder’s CEO added that “our strong balance sheet and operational momentum gives us the ability to leverage our leading industry position, evergreen franchises and unmatched platforms that drive sustainable growth and significant value.”
Wilson further explained that all this fosters “a high-performance culture and making disciplined investments in [the] future while maintaining a laser focus on operations and execution will underpin our success.”
What did Light & Wonder’s 2022 Q3 look like?
At $648.0m, revenue from this year’s Q3 for this games provider was up 20.2% from $539.0m in the same period in 2021.
Light & Wonder’s iGaming revenue during 2022’s Q3 also went up, this time by 9.4% ($58 million).
While spending $559 million on operating costs (10.7% higher than 2021), a further $65 million on net financial expenditure were spent by the games provider.
For the period July-September 2022, Light & Wonder made a $24 million profit (before tax), compared to a $72m loss during Q3 of the previous year.
The game provider’s Q3 ended with a net profit of $328 million – an 80.2% increase from 2021.
About Light & Wonder
Light & Wonder is one of the oldest and largest game providers (dating back to the 1940s) and operates in 50 countries.
Some of the top casinos in New Zealand where you can find Light & Wonder games include; LeoVegas, Royal Panda, Jackpot Molly, and Rizk.
If would like to stay updated with the latest casino news, we invite you to check out the following articles from our Casino News section: