Casino equipment and online gaming provider Light & Wonder Inc L&W reported first-quarter revenue growth of 12.8% year-over-year to $756 million. Revenue fell 1.8% quarter-over-quarter, according to a press release Wednesday.

The company said sales growth "continued double-digit sales growth across all businesses" and "led in strong revenue growth."

"We had a solid start to 2024, achieving consolidated revenue growth and strong cash flow for the 12th consecutive quarter year-over-year, while continuing to execute a strong content roadmap and cross-platform strategy," Light & Wonder said.

The company's net income attributable to shareholders rose 272.7% year-over-year to $82 million in the first quarter. Judging sequentially, these net income represented a 24.2% increase from the last quarter of 2023.

The group's adjusted consolidated net income (EBITDA) before interest, taxation, depreciation and amortization rose 12.9% year-over-year to $281 million in the first quarter.

The group consists of three main categories: land-based gaming, digital gaming, SciPlay, and iGaming.

Wednesday's announcement quoted Matt Wilson, president and chief executive of Light & Wonder, as saying the group's "strong momentum continued into 2024" and "driven growth in gaming sales in markets adjacent to North America and in international markets led by Australia and Asia."

"This quarter's performance is a testament to our action plan, and we expect growth to be further strengthened by the launch of key hardware and content in the land and digital markets throughout the year," the CEO said.

J.P. Morgan said in a note on Thursday that Wright & Wonder's first-quarter earnings beat market consensus, and that "good performance stemming from ground-based games is a slight slump for SciPlay due to weak average sales per daily active user." 파워볼사이트

"Game console sales are centered around Australia, and the installation of Dragon Train slots started in late March, so the outlook is clear," analysts Don Carducci, Michael James and Dylan Adrian said.

"The next quarter's performance will demonstrate a strong rollout of this family of games based on continued momentum in Australia," they added.

Light & Wonder shipped 9,696 new gaming machines in the three months to March 31, up 26.3% year-over-year. In the first quarter of 2024, shipments grew 45.2% year-over-year to 5,259 units sold in international markets, including Asia Pacific.

Global game console sales values were flat compared to the previous quarter, but were up 29.7% year-over-year to $250 million.