Light & Wonder Inc. announced that the Oregon Lottery has purchased more than 1200 additional Video Lottery Terminals (VLT). This comes less than a year after the Oregon Lottery purchased 1175 VLTs following the successful trial phase in the state.

The gaming machines will house diverse player-favorite games such as BLAZING HOT CELEBRATIONS, LIGHTNING TUSKS, AMERICAN ORIGINAL, BIER HAUS, AMERICAN ORIGINAL STARS & BARS, QUICK HIT MONEY WHEEL, TREASURE FRUITS, FLUSH FRENZY Poker, and more.

“We are thrilled to continue our partnership with the Oregon Lottery and to provide their players with our state-of-the-art KASCADA Dual Screen Multi-Games. The additional placement of over 1,200 VLTs is a testament to the success and popularity of our games in the region. We are committed to delivering innovative and engaging gaming experiences that enhance player enjoyment and drive growth for our customers,” said Niaz Nejad, Managing Director – Americas, Gaming at Light & Wonder.

“We’re excited to continue our partnership in bringing Light & Wonder’s popular games and product expertise to our Video Lottery players. They consistently use our feedback to deliver quality products that benefit our team and customers,” said Sar Richards, Oregon Lottery’s Manager of Video Gaming Products.

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Light & Wonder Inc. has announced that it will present its industry-leading Class II, core, and premium titles along with top-performing systems solutions and table offerings at the 2024 Indian Gaming Tradeshow & Convention (IGA) on April 8-11 in Anaheim, Calif.

“Light & Wonder is honored to be at this year’s IGA and we’re proud to present a versatile portfolio tailored to our valued tribal customers. From captivating content to leading-edge tables and systems, our product showcase further demonstrates our position as the leading cross-platform global games company,” Siobhan Lane, Chief Executive Officer of Gaming at Light & Wonder, said.

Engaging Class II Content: Demonstrating its commitment to tribal customers, the Company will present Class II iterations of top-performing L&W titles such as DRAGON TRAIN, HUFF N’ EVEN MORE PUFF, and HOT HOT BLAZING LOCKS. Class II customers can also experience engaging titles such as DOUBLE DRAGON, DRAGON TRIO, SUPER WINNING STREAK, LION EYES, and LION LINK.

Top-Performing Slots: Coming off the heels of its chart-topping success in the Australian market and its recent North American market arrival, the Company will shine a spotlight on DRAGON TRAIN. Housed on the award-winning KASCADA Dual Screen cabinet, DRAGON TRAIN offers an unparalleled gaming experience with its innovative features, including the Hold-and-Spin feature, new Sticky Reels, and the Cash Cluster game feature. The top-performing title will join legacy L&W titles including HUFF ‘N EVEN MORE PUFF within the Company’s booth.

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The Company will also highlight its latest licensed content with SQUID GAME slots. The slots are based on the widely acclaimed and most popular Netflix series of all time, SQUID GAME, and seamlessly integrate iconic games from the show such as Red Light, Green Light; Tug of War; and The Glass Tile.

Innovative Hardware: L&W will also showcase innovative new hardware with the all-new LANDMARK 7000 Transparent stepper cabinet. The cabinet incorporates video elements through an iDeck offering and a video reel glass screen allowing for more dynamic content.

Premium Table Offerings: The Company will demonstrate its position as the market-leading table games provider and present its latest table game offerings with innovative solutions including the Table Progress System which features a never-before-seen coin sensor technology. This industry-first technology offers a built-in LCD screen, an eye-catching 27-inch LED-trimmed sign, and updated software with new bonusing features and enhanced reporting. The tables team will also highlight its innovative blackjack game variant DOUBLE DOWN MADNESS along with its commission-free baccarat game, RUYI BACCARAT.

Spotlight on Systems Solutions: Light & Wonder will showcase its system-agnostic global platform, L&W ENGAGE which enables operators to leverage data to execute a cohesive curated customer journey at every touchpoint regardless of location, vertical, or platform.

Attendees can also experience the Patron Mobile App within the Company’s booth. The solution is elevating the casino resort experience by enabling patrons to seamlessly manage a range of resort-related activities from registration and profile updates, to cardless and cashless session creation, checking balances, and promotions. The solution also enables users to participate in cross-platform social gaming tournaments from the palm of their hands.

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The team will also present its latest kiosk solution, PATRON KIOSK. This solution is designed to redefine customer interaction and elevate guest engagement in resorts worldwide. PATRON KIOSK streamlines the loyalty program enrollment process and offers each individual guest tailored experiences for an elevated experience.

Light & Wonder Inc. reported results for the fourth quarter and fiscal year ended December 31, 2023. The Consolidated revenue in the quarter grew 13%.

Highlights

• Gaming revenue increased to $496 million, up 13% compared to the prior year period, primarily driven by another quarter of robust Gaming machine sales growth, which increased 31% globally, coupled with continued strong momentum in Gaming operations.
• SciPlay revenue rose to $204 million, a 12% increase from the prior year period, breaking a quarterly revenue record for the sixth consecutive quarter, driven by the core social casino business, which once again delivered strong payer metrics and outpaced the market and gained share.
• iGaming revenue increased 13% to $70 million reflecting continued growth momentum in the US and international markets.
• Full year consolidated revenue increased 16% to $2.9 billion delivering record results, which showcased strong financial performance, execution on growth strategy and transformation, and continued advancement toward long-term financial targets.

Matt Wilson, President and CEO of Light & Wonder, said: “2023 was a banner year for Light & Wonder. Our businesses delivered double-digit growth across the board throughout the year, enabled by strategic investments and strong execution. We consistently leverage a differentiated product strategy and plan to capitalize on the significant growth opportunities ahead of us. I am thrilled with the momentum we continue to see in the business, and with our winning mentality, experience, and talent in place, we are well-positioned to continue our growth trajectory. I want to congratulate our team on a successful year and know the best is yet to come.”

Oliver Chow, Chief Financial Officer of Light & Wonder, said: “We continue to see healthy trends in the business and were able to capitalize on many of the opportunities presented to us in 2023 to deliver strong top- and bottom-line growth, both in the quarter and for the full year. Our teams continued to deliver quality earnings with improved metrics over the course of 2023. Moving forward, we will focus on driving sustainable growth and executing against our balanced and opportunistic capital allocation strategy with discipline, driving value for all stakeholders.”

Leverage, Capital Return and Strategy Update

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• Principal face value of debt outstanding of $3.9 billion, translating to net debt leverage ratio of 1x as of December 31, 2023, despite the cash outflow required to complete the SciPlay merger. The net debt leverage ratio decreased 0.2x from December 31, 2022, and remained within the targeted net debt leverage ratio range of 2.5x to 3.5x.
• Returned $25 million of capital to shareholders through the repurchase of approximately 3 million shares of L&W common stock during the quarter and $170 million or 2.4 million shares during 2023. Since the initiation of the program, the company has returned $575 million of capital to shareholders through the repurchase of approximately 9.4 million shares of L&W common stock, representing 77% of total program authorization.
• Repriced the Term Loan B in January 2024 reducing the interest rate by 35 basis points, resulting in a reduction in annualized interest costs of approximately $8 million.
• SciPlay merger integration completed successfully, with the Company strengthening its cross-platform strategy through synergistic game development processes across all businesses.