Light & Wonder Reports Loss for 2022

Despite excellent sales and AEBITDA gains across all areas, Light & Wonder reports a loss for 4Q22 and FY22. 

Despite revenue and AEBITDA increases of 17.58% and 22.68%, Light & Wonder gambling company reports a 4Q22/FY22 loss. President/CEO Matt Wilson looks ahead optimistically, noting strong momentum. 

Leading cross-platform developer Light & Wonder specialises in building new worlds where players can fully immerse themselves in action-packed casinos, online, or mobile games. But despite impressive revenue and AEBITDA growth across all business segments, Light & Wonder declared a loss of $176M in 4Q22 and FY22, down from 2021’s profit of $24M. 

Profits in the gaming sector grew by 18% 

The gaming segment was the primary revenue driver, with 18% yearly profit growth ($438 million) and a 29% AEBITDA increase ($215 million).

iGaming revenue saw a significant rise of 15% to $62 million, wagers tripled to $19.2 billion, and AEBITDA increased 7% to $80 million. SciPlay delivered record growth, with revenue up 18% to $182 million and AEBITDA up 24% to $48 million. 

Matt Wilson, President and CEO of Light & Wonder 

As Light & Wonder’s Executive President and Group Chief Executive of Gaming, Wilson oversees the team’s strategic growth objectives and product development, production, supply chain, and sales of the company’s gaming products, systems, and services. 

Despite the problematic quarter, Wilson stated that “we delivered on an ambitious and transformative plan while driving operational success” and looked ahead with optimism with “strong momentum continuing in the business”. 

Better Positioning into FY23 

Thanks to Light & Wonder’s strong revenue performance across all its segments, it is well-positioned to continue its growth in FY23. The revenue is expected to increase by 17%, AEBITDA by 15%, gaming revenue by 21%, SciPlay by 11%, and iGaming by 6%. With such robust revenue potential, Light & Wonder is set to remain a leader in the gambling industry. 

Summary 

Light & Wonder is headquartered in Las Vegas, Nevada, and employs roughly 5,000 people across six continents. Jobs depend, and growth and Light & Wonder delivered strong revenue growth across all segments in FY22, despite declaring a loss for the year. 

Gaming revenue was the main driver, with iGaming and SciPlay also seeing significant growth. President/CEO Matt Wilson expressed optimism for the company’s future and expected strong revenue potential in FY23. With solid revenue foundations, Light & Wonder is unsurprisingly well-positioned to remain a leader in the gambling industry.