Light & Wonder, a major player in the online gambling industry, has released its financial results for the third quarter of 2023. This quarter marked the tenth consecutive quarter of revenue growth for the company, with a 13% increase in consolidated revenue compared to the same period last year.

The company’s iGaming and SciPlay divisions also experienced record revenues, with iGaming revenue hitting $70 million, a 21% increase from last year, and SciPlay revenue reaching $196 million, a 15% increase from last year. Additionally, gaming revenue saw an 11% increase to $465 million, driven by an uptick in machine sales in North America and Australia, as well as a strong performance of table products in North America.

During the third quarter, Light & Wonder returned $112 million of capital to shareholders through share repurchases and finalized the acquisition of SciPlay, acquiring the outstanding 17% equity interest. Matt Wilson, the president and CEO of Light & Wonder, attributed the company’s exceptional results to its team of experts and highlighted the successful acquisition of SciPlay and inclusion in the ASX 200 index in Australia as important achievements during the period.

Wilson expressed confidence in the company’s positive momentum for the rest of 2023 and beyond, predicting continued growth across all three of its businesses.

By admin