Light & Wonder, Inc. reported strong financial results for the fourth quarter and full year 2024, achieving record consolidated revenue of $3.2 billion, a 10% year-over-year increase. The company experienced growth across all its business segments, with gaming revenue rising 12% to $2.1 billion, driven by a 22% increase in gaming machine sales and a 13% increase in gaming systems revenue. SciPlay revenue grew 6% to $821 million, while iGaming revenue increased 9% to $299 million, reflecting momentum in the U.S. and international markets.

Operating income increased 29%, while consolidated AEBITDA grew 11%, and adjusted NPATA rose 24%. Light & Wonder returned $462 million to shareholders through share repurchases, completing its initial $750 million buyback program and making progress on a new $1 billion program authorized in June 2024.

CEO Matt Wilson highlighted strong gaming machine sales in North America and Australia, attributing gains to research and development investments and a robust product lineup. CFO Oliver Chow emphasized the company’s financial strength, which supports strategic acquisitions, including the recently announced $850 million purchase of Grover Gaming’s charitable gaming business. The deal is expected to enhance recurring revenue and expand market presence in regulated land-based gaming.

The company also amended its credit agreement, increasing revolving commitments to $1 billion and extending the maturity date. Additionally, Light & Wonder reached a $72.5 million settlement to resolve antitrust claims related to its automatic card shuffler business.

Fourth-quarter revenue rose 4% to $797 million, with net income increasing to $107 million from $67 million a year earlier. Adjusted NPATA grew 17% to $127 million, and free cash flow improved to $74 million. The gaming segment saw a 4% revenue increase, SciPlay remained flat, and iGaming grew 11%.

Looking ahead, the company expects continued growth, with first-quarter 2025 consolidated AEBITDA projected to rise in the low double-digits. Light & Wonder is also evaluating a potential shift to a dual primary or sole listing on the Australian Securities Exchange, where approximately 30% of its ownership is now based.