Currency in USD 66.73 +0.61 (+0.92%) At close: 04:00PM EDT 66.73 0.00 (0.00%) After hours: 04:00PM EDT Stock chart is Moving to the balance sheet, cash flow and capital allocation. Its OPENGAMING platform powers the largest digital-gaming network in the industry. Scientific Games Provides Business Strategy Update and Reports This launch was another huge success with our Blazing 7s franchise titles debuting at #1 and #2 in the Eilers stepper segment. To access the call by telephone, please dial: +1 (844) 200-6205 for U.S. or +1 (929) 526-1599 for International and ask to join the Light & Wonder call using conference ID: 245536. Investor Relations: +1 (702) 532-7614 IR@lnw.com Light & Wonder, Inc. These statements involve certain risks and uncertainties that could cause actual results to differ materially from those discussed during the call. We have built a leading and unique position in a market that's not only huge and converging but has also been historically resilient to the dynamic economic environment. Schumaker Place, located in Salisbury, Maryland, is a 96-unit tax credit financed community originally developed by LNWA in 1992. Wrapping up, I want to emphasize how the swift and transformative capital management steps we have taken position us well to deliver on our strategy and succeed in different economic cycles. Capital expenditures from continuing operations were $58 million in the fourth quarter of 2022. It's great to see both the market recovery and our ability again to fulfill that. Additionally, I'd say that as we look forward, we're going to start to expand into some of these ancillary markets, which we haven't had the opportunity to do just yet. 347.00M. Let's turn to the quarter's financial highlights. Our net debt leverage ratio declined from a peak of 10.5x to 3.6x at the end of the second quarter, a truly remarkable transformation from where we were just 18 months ago. Learn about the executive team and board of directors at Light & Wonder Inc Ordinary Shares (LNW:XNAS) and review their bios and compensation over the latest fiscal years. Consolidated revenue was $2,512 million compared to $2,153 million, a 17% increase relative to the prior year. And it puts us well on our way to achieving the 2.5x to 3.5x range that we outlined. And with the momentum we've now realized, and as you said, the conversations that we've been having with operators, and we've seen and experienced that increase in CapEx. Thank you all for your participation. Light & Wonder Announces Completion of Legal Entity I wanted to start on the core land-based business. Light & Wonder, Inc. (NASDAQ: LNW) (formerly known as Scientific Games Corporation) is a global leader in cross-platform games and entertainment. WebLNW - Light & Wonder, Inc. NasdaqGS - NasdaqGS Real Time Price. Companys earnings for a period net of operating costs, taxes, and interest. So we remain confident about our industry and our path forward. expectations of growth in total consumer spending on social casino gaming. Or should we be thinking about more hiring and more additions as you go? Find out the revenue, expenses and profit or loss over the last fiscal year. Investor Presentations. Light & Wonder, Inc. Common Stock (LNW) SEC Filings | Nasdaq Skip to main content Market During today's call, we will discuss our second quarter 2022 results and operating performance followed by a question-and-answer period. Generated Double-Digit Consolidated Revenue Growth of 18% in the Quarter and 17% for the Full Year, Returned $413 Million(1) of Capital to Shareholders Through Share Repurchases. WebRepresents the total incurred expenses through normal operations. And we obviously can't predict the macro environment. We couldn't be more pleased with the progress we are seeing across our Gaming business, all which speaks to the success of our new products and the opportunity that lies ahead. ASP was also robust at over $17,000, reinforcing the value we are creating with our reinvigorated product road map. Light & Wonder Provides Business Strategy Details and Long-Term Targets at 2022 Investor Day Published May 10, 2022 Light & Wonder Increases Custom Content Net (loss) income was $(176) million compared to $24 million in the prior year due to higher revenue and operating income, including lower interest expense, which was offset by $147 million in loss on debt financing transactions in the current period. Now turning to quarterly results. Let's now turn to iGaming, where our results demonstrate our ability to leverage our unrivaled position in the marketplace, including our original content, unmatched iGaming platform and leading PAM to deliver best-in-class offerings to our partners and players. Net loss from continuing operations of $150 million was primarily impacted by $147 million loss on financing transactions associated with the April debt paydown. Thank you. This quarter demonstrated strong operating results, low leverage and significant capital returns, all adding up to a compelling value proposition. Gaming AEBITDA was $215 million, up 16% compared to the prior year period. We're also pleased to welcome Victor Blanco as our Chief Technology Officer; and Roxane Lukas as our Chief People Capability Officer, both of whom have deep games, technology and digital experience, as we continue to enhance our executive team. And as Barry mentioned, we purchased $203 million or over 4% of our market cap in just 5 months since authorizing our program on March 1. And we have a strong funnel in Q3 and Q4, which gives me even more confidence than ever that we can continue to drive growth. BROOKFIELD, NEWS, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Brookfield Business Partners L.P. (NYSE:BBU) (TSX:BBU.UN) (" Brookfield Business Partners ") together with institutional partners (collectively Brookfield) today announced an agreement to acquire Scientific Games Corporations global lottery services and technology business Light & Wonder's gaming division provides products such as slot machines, table games, shuffling machines, and casino management systems. And if I can -- I'm going to just pick out one piece of it just to kind of demonstrate that upside. Additionally, we made investments in key initiatives at iGaming and SciPlay to fuel long-term growth. But as I mentioned in the last -- as we just talked about the next 6 months, we know the game sector is resilient and that the industry is showing great momentum today. You would have seen, I would call out a little bit of softness in the margin in gaming, but that was really more driven by a mix issue than anything else in terms of the hardware sales coming through from the games business as well as the iVIEW 4. And our confidence in our people, playbook and the product road map that we shared that day, quite frankly, it's only gotten stronger as evidenced in this quarter. And we saw additional success from Gold Fish Feeding Time and Rich Little Piggies Hog Wild, all successful extensions of our proven evergreen franchises. Our call today will contain statements that include forward-looking statements under the Private Securities Litigation Reform Act of 1995. So as you know, we have a leadership position in both of those. [Operator Instructions]. And in 2023, as we move past the strategic initiatives, free cash flow is expected to improve significantly, translating to substantial free cash flow per share as we benefit from our strong growth profile, the transformation of our balance sheet, the flow-through of operational efficiency benefits and the active purchasing of our shares. As a reminder, this conference call is being recorded. Do you feel like you have all of the sort of human capital in place to do what you need to do? In terms of our ability and the pace in which we've been moving, there was an element in the quarter given the change in the sports deal that required us to pause for a moment because we were -- we had some material nonpublic information. And we have an unmatched position. Second, we moved quickly to delever using the $5.7 billion gross cash proceeds from Lottery to pay down and refinance our debt, enabling us to achieve a net debt leverage ratio of 3.6x. By the way, you saw it in game sales, too, with sequential 19% quarter-on-quarter. The prior year benefited from an income tax benefit as a result of a reversal of our valuation allowance on deferred taxes and gain on remeasurement of Euro denominated debt, which was redeemed as part of the April 2022 debt pay down and refinancing transactions. And subsequently, on June 30 of this year, we entered into an amendment to the definitive purchase agreement. U.S. revenues increased 47% year-over-year, growth that was driven by GGR scaling as well as continued market share gains. I want to note that as it relates to FX, our comp base provides us with a natural hedge. And in a sign that the market continues to move toward recovery, we saw replacement units approaching 2019 quarterly run rate levels. And that's allowed us to do a couple of things. Light & Wonder, Inc. (LNW) Income Statement - Yahoo Finance Turning to iGaming. Both SciPlay and iGaming achieved record revenues. Add comparison. In terms of capital allocation, we continue to take a balanced and opportunistic approach to enhance shareholder value. And just how are your lead times trending more recently relative to earlier this year, call it Q1? Review quarterly and annual revenue, net income, and cash flow for Light & Wonder Inc Ordinary Shares (LNW:XNAS) stock through the last fiscal year. We've been really proactive in supply chain. Overall, we feel great about our unique position in iGaming with our robust original content offering, unrivaled platform and differentiated scale. SciPlay continued to drive strong engagement and monetization of players fueled by strategic investments, enabling SciPlay to deliver record payer metrics, and it once again outpaced the market and gained share. We've already executed about 27% of that. For example, we recently launched the highly anticipated Kascada Dual Screen cabinet globally, and we saw a strong performance out of the gate in both the U.S. and Australia. The newest version of the Solitaire Pets Adventure is in soft launch, and we have some early positive data. We also saw strong performance from our Lightning Box acquisition, which remains the #1 digital native studio on our iGaming platform in the U.S. Gaming revenue increased to $438 million, up 18% compared to the prior year period, primarily driven by another quarter of robust Gaming machine sales growth of 41%. LNW - Light & Wonder, Inc. NasdaqGS - NasdaqGS Real Time Price. Growth was primarily driven by double-digit revenue growth in Gaming, demonstrating robust recovery and continued momentum approaching pre-COVID levels. LNW Light & Wonder to Report First Quarter 2023 Results on Tuesday, Maybe one more quick one for you, Connie. Combined net cash (used in) provided by operating activities was $(87) million compared to $226 million in the prior year period, which includes both continuing and discontinued operations. Finally, in tables, we continue to leverage our wealth of experience in IP to maintain our market-leading position. We believe that there's no better time to be in this industry, and nobody is better positioned to take advantage of the $70 billion TAM games market opportunity. You see it here on the table side of the business with the increase in Shufflers increase in our 50% -- over now -- over 50% subscription on VALT. We are squarely pointed at the $70 billion TAM across all game markets. We completed our strategic transformation, resulting in a streamlined organization and deleveraged balance sheet, positioning the Company to strongly execute on its strategic plan and long-term financial targets. All categories. Additionally, payer conversion reached a record of 9.4% while average monthly revenue per paying user remained elevated. As Barry mentioned, we're continuing to expand the portfolio. With its sticky player base, strong monetization and low capital intensity, SciPlay continues to be highly cash-generative. Light & Wonder, Inc. engages in the development of technology-based products and services and associated content. SciPlay revenue was $182 million, a 18% increase from the prior year period, breaking another record by achieving the highest quarterly revenue ever. We expect AEBITDA margins to scale in Q4 as we see the benefits from these investments and as we move past the marketing innovation campaign. Private Securities Litigation Reform Act of 1995. Combined net cash (used in) provided by operating activities was $(381) million compared to $685 million in the prior year, which includes both continuing and discontinued operations. We see an opportunity to maximize this acquisition by leveraging our expertise and capabilities such as adding new meta features to drive higher LTV. Great. Now let's go deeper into each business unit, starting with Gaming, where our new strategy and product road map are already delivering robust underlying growth. Great. Gaming operations revenue benefited from year-over-year growth in our North American installed base and elevated average daily revenue per unit, due to strong content performance and continued success of our KASCADA and MURAL cabinets. LNW Stock Price & Charts | Light & Wonder Connie James, Chief Financial Officer of Light & Wonder, added, "We are proud of the tremendous and rapid progress we have made over the past 18 months. Long and Short Trading And I'd just say, in general, that as we move forward, we know that our business is going to generate significant cash and we see free cash flow per share as a key metric. And so we're seeing a -- we have a strong confidence in the market and quite frankly, an even stronger confidence in our ability to take share, given the success and momentum of the games and the robust product road map that we have. You can access our filings with the SEC through the SEC website at www.sec.gov or through our website, and we strongly encourage you to do so. So in Gaming, we had a great quarter, and we saw growth across all 4 gaming business lines, which is, again, a testament to the strong market recovery and also our strong lineup in all the major categories. Superior reliability and operating performance across our business. Insider trades for Limelight Networks, Inc. (LLNW). I think that's evidenced just by the performance we've had through the first half of the year, in particular our ability just to fulfill the growing demand. Look, I think there's great news here. WebE xh i b i t 99.1 UWM Holdings Corporation Announces Second Quarter 2022 Results $215.4 m i l l i on i n 2Q 22 N e t I n c om e ; S e c on d Q u ar t e r L oan O r i gi n at i on Vol u m e of $29.9 bi l l i on , i n c l u di n g P u r c h as e Vol u m e o f $ 22.4 bi l l i on Net debt leverage ratio, a non-GAAP financial measure defined below, declined 47% to 3.3x from 6.2x at the end of 2021, remaining in our targeted net debt leverage ratio(1) range of 2.5x to 3.5x. Excluding the VAT impact, year-over-year consolidated revenue and consolidated AEBITDA growth was 12% and 9%, respectively. WebAbout Us Telephone and Data Systems (TDS) is a Fortune 1000 company that provides wireless products and services; cable and wireline broadband, TV and voice services; and hosted and managed services to approximately 6 million customers nationwide. But we grew that, if you remember, bringing on the team and the playbook and our road map 2 years ago. And I'd just build on to what Barry said, that one of the beauties about our business is we get real-time data. SciPlay's continued focus on engagement and monetization allowed them to deliver ARPDAU growth of 3% year-over-year to $0.74 while maintaining a steady DAU base. Although we believe industry information to be accurate, it is not independently verified by us and we do not make any representation as to the accuracy of that information. But as we launch into Stepper here, which, again, that cabinet is just off to a phenomenal start. We saw a sequential rebound in the business, thanks to gains from our evergreen franchises like Rainbow Riches, Rainbow Frenzy and Blazing Hot 7's Big Bonuses. Generated Double-Digit Consolidated Revenue Growth of 18% in the Quarter and 17% for the Full Year Returned $413 Million of Capital to Shareholders The newly released Huff N' More Puff, which launched on the Kascada Dual Screen, debuted at #1 on the Eilers for-sale list. Overall, we delivered continued strong results with consolidated revenue growing 5% to $610 million and consolidated AEBITDA of $212 million. With our newfound balance sheet strength, one of our key priorities is returning capital to our shareholders. Light & Wonder, Inc. Reports First Quarter 2023 Results
