The following is a summary of the Light & Wonder, Inc. (LNW) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Light & Wonder reported Q3 consolidated revenue of $817 million, a 12% increase year-over-year.

• Operating income reached $159 million, reflecting a $12 million increase from the prior year.

• Net income per share was reported at $0.71, down from $0.81 year-over-year due to higher restructuring and other costs.

• Consolidated AEBITDA grew 12% to $319 million, maintaining an AEBITDA margin of 39%.

Business Progress:

• The company showcased over 80 unique game titles at G2E, receiving positive feedback and aligning their R&D resources effectively.

• Launched a new gaming studio in Reno and introduced the Best Games Workshop, fostering innovation and collaborative development.

• Mentioned strong momentum in the Gaming sector, especially in North America, with a 17 consecutive quarters growth in the premium installed base.

• Introduced innovative products like the Cosmic cabinet and the Huff N' Puff Hard Hat edition, while expanding in new markets including the Manitoba VLT market.

Opportunities:

• Continued expansion in iGaming, driven by a strong content and services portfolio, with a number one US Slot GGR share reflecting effective market capitalization.

• Expansion into new geographic markets and sectors expected to drive future growth, particularly in interactive gaming and social casino platforms.

Risks:

• Acknowledged potential impacts from the Dragon Train injunction, although mitigation efforts are underway with a 95% conversion rate of the affected units to new titles.

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