Light & Wonder (L&W) has published its Q2 2023 report， revealing a 20% consolidated revenue growth year-on-year， rising to $731m. Consolidated AEBITDA also rose 33% to $281m in Q2 2023.

The company’s global game sales are up 41%， systems are up 20%， and table products have also risen 34%， all on a YoY basis.

Due to these increases， L&W saw a 21% growth in revenues for the global gaming segment to $471m.

When compared to rival IGT’s revenue， L&W has seen a 9% rise， jumping from $670m in the last quarter to $731m in this quarter; meanwhile IGT has seen a 0% increase in revenue from Q1 2023 to Q2 2023. So， while IGT's revenues are consistently higher， Light & Wonder is making up the ground quarter by quarter.

A comparison graph between Light & Wonder Vs IGT's revenue from Q2 2022- Q2 2023.

L&W’s iGaming revenue achieved another quarterly revenue record of $70m，slots up 17%， primarily driven by continued growth in the US-regulated market.

Its acquisition of SciPlay paid off， as SciPlay achieved record revenue of $190m， a 19% increase year-on-year. It has since acquired 100% of the shares in the company.

Net income from continuing operations stands at $5m for Q2 2023， which is up from minus $150m year-on-year. After seeing a large loss last year， the company has now made a slight profit.

However， net income attributable to L&W was $3.2bn in Q2 2022， but now stands at minus $1m. This was due to a minus $3.4bn net loss from discontinued operations (net of tax).

Light & Wonder’s President and CEO， Matt Wilson， commented: “Our reported numbers continue to validate the investments that we’ve made in our business and demonstrate the significant progress we are making towards our long-term targets.”