Now in its sixth year and recognising the achievements of operators, suppliers and affiliates from across all the major disciplines. This latest entrant in the CasinoBeats contenders series delves into supplier categories as we look at those vying for the ‘Innovation in Casino Entertainment’ gong.

BetGames.tv

Invention and innovation are pillars in the gaming community and while there is a sameness in operators providing daily lotteries and traditional casino games, the freshness and fluid nature of our marketplace means breaking boundaries.

BetGames.TV provides an enhanced, modernistic vision. The company created a niche market in the dynamic, fluid, rapidly changing world of gaming. We showcase a unique live dealer experience and maintain the industry norm of efficiency, speed and revenue potential.

Betsoft

2019 has been a year of significant success and innovation for Betsoft. This stems from our unique and innovative approach to slot design. Our portfolio of Slots3 games has grown considerably, and our offering now boasts a multitude of best performing games including Spinfinity Man and Viking Voyage.

However, among our most exciting titles is Max Quest: The Wrath of Ra. This game is a departure from the traditional slot model offering players a completely new casino experience and operators a disruptive, highly original, revenue generating vehicle to both acquire and retain customers.

Design Works Gaming

Design Works Gaming has an enviable history of producing slot games for land-based and social casinos. After developing titles for some of the biggest names in land-based casinos, DWG turned its gaze to the social scene with its first social casino, Diamond Sky, which was launched in 2016. We experienced significant success with Diamond Sky, and since have launched a number of social casinos, including two more this calendar year.

Evolution Gaming

Monopoly live from Evolution Gaming — a unique live online game show based on the world’s best-loved board game. It is an all-new special edition of our player-favourite Dream Catcher and created in partnership with Hasbro. It blends live game action with augmented reality, creating an entirely new player experience and has opened up live casino to an entirely new segment of players!

Green Jade Games

Being a new studio, we believe our best chance is innovation. Our vision is to deliver the next generation of casino games. Green Jade Games’ ambition is to develop the next generation casino games, based on an innovative mix of features from slots, computer games and hyper-casual games.

Greentube

Step inside Greentube’s “Home of Games” as we deliver safe and secure casino entertainment to players around the world. As the Novomatic Interactive division, we offer a diversified game portfolio of video slots, table games, AWP reloaded slots, server-based gaming, social casino gaming, video bingo and more.

Our omni-channel technology is at the forefront of gaming innovation and converges online, mobile and land-based gaming. As a full service RNG supplier we offer both customised platform solutions as well as a complete range of operation services.

Iforium

Welcome to Iforium, join us in connecting the game. Founded in 2006 and based in the Isle of Man, Iforium are a leading B2B software development company focused on providing the next generation casino platform.

Gameflex, our multi-award winning casino aggregation platform delivers the largest gaming portfolio in the industry with a focus on the regulated markets. Our portfolio now extends to over 9,000 games from 100+ content providers and is growing month on month.

The Iforium platform is live in 12 regulated markets and we work with multiple household name operators. We are presently licenced and regulated by the UKGC, MGA, ONJN and New Jersey in the US.

Playtech

Unique to Playtech games, game modifiers are “unlockable” special features available within certain games, giving licensees a cost-effective way to boost engagement through tailored, semi-personalised gameplay.

Game modifiers can be activated either manually through Playtech’s IMS or automatically via rules set in the engagement centre, either for individuals or multiple players. As well as creating an enhanced player experience, Game modifiers are designed to offer licensees a fresh alternative to traditional bonusing that does not rely on financial incentives.

By delivering something extra for players with an element of exclusivity, licensees can tackle churn, reward VIPs, promote cross-brand or cross-vertical play and much more.

Pragmatic Play

2019 has seen Pragmatic Play considerably strengthen its position as one of the leading providers of products and services in the igaming industry. Our expanding portfolio of video slots has grown in size and stature to be one of the most immersive offerings the industry has to give.

This has been supplemented by the highly successful launch of our live casino offering, and the roll-out of our pioneering Pragmatic Play Enhance tool. Much of our success has been the result of our unwavering commitment to innovation.

Red Tiger

We believe Red Tiger’s Daily Drop Jackpots Network is the greatest casino innovation for the judging period in question because, for the first time, a slots player can win an average of €56,000 every single day on our games making it the biggest daily jackpot in the industry.

This attractive prize has proved tremendously popular with players and operators alike. Unlike progressive jackpots, our daily drop jackpots are much more attainable for players and our clients have been able to harness this attraction to acquire customers and, most importantly, to retain them.

Scientific Games

Scientific Games understands its customers’ needs and always seeks to innovate to create business solutions to solve their pain points. Introducing Scientific Games’ player boutique, an innovative marketing and gift fulfilment program that is truly unique and enables operators to more seamlessly reward player loyalty, conduct special events, simplify program giving, enhance operations and improve the casino promotional environment.

Tom Horn Gaming

We make sure to create the best-in-class entertainment for those who are brave enough to embark on a thrilling journey to discover many fantastic worlds our video slots offer. 

Our slots always stimulate all your senses. Attractively done visuals with the soundtrack bouncing along, engaging gameplay with a host of amazing features just do the perfect job.

We are always setting ourselves new challenges as a brand in terms of growth, revenues, gaming concepts, innovation, technology. Our rigorous research of new technologies is always translated into our own in-house game development, that always features new game concepts and new technologies to attract new players and provide them with an unforgettable gaming experience.

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Matt Bastock

Google has announced updates to its Gambling and Games advertising policy, which will take effect on 14 April 2025. 

The tech giant has released a provisional version of the new rules. Notably, it includes a formal definition of ‘gambling,’ which was omitted in the old policy. From April, Google will define gambling as “both gambling as defined by law under the regulatory framework in the country you are targeting with ads, and to anything that functions in the following way: Staking something of value on the outcome of events or processes determined by an element of chance with the opportunity to win something of value.” 

This amendment targets advertisers who previously claimed that games were not gambling due to legal technicalities and other loopholes.

Additional restrictions are proposed regarding what types of gambling-promoting content are acceptable through Google. The new policy splits into supported and unsupported. Aggregator or affiliate sites that provide information about or compare other gambling services are supported. 

However, a site offering online gambling-promoting content must not itself offer gambling services nor provide links to any entity that it owns.

Country-Specific Restrictions and Regional Bans

The new Google policy also has specific gambling restrictions on a country and regional basis. Firstly, the promotion of real-money Mahjong gambling in APAC will be prohibited. The rules read: “Google doesn’t allow the promotion of Mahjong involving the exchange of money in the Asia-Pacific region.”

Previously, Google had not mentioned any country-specific restrictions for promoting offline gambling. The new rules will prohibit any promotion of offline gambling in various countries. The countries listed are: Bulgaria, China, Estonia, Egypt, Hong Kong, India, Indonesia, Italy, Korea, Lithuania, Malaysia, Morocco, Northern Ireland, Philippines, Singapore, Taiwan, Thailand, Turkey, Ukraine, United Arab Emirates, and Vietnam. Generally speaking, this aligns with local restrictions. 

Google has provided further information about skill-based games and clarifies between them, and requires any games that require local licensing to apply for certification with the company too. In addition, advertisers will now be required to proactively update Google if their gambling license status changes. Failure to do so could result in “immediate ad suspension.” 

Soon after a Washington State court ordered the social casino company High 5 Games to pay $25 million in damages, the genre will face many additional requirements on Google.

First, Google’s new rules plan to ban affiliates and aggregators for social casino games outright. It reads: “Promotion of content which itself directly promotes engagement in social casino games, such as aggregators or affiliates, is not allowed.”

It adds: “We take violations of this category very seriously and consider them egregious. If we find violations of this Social casino games policy, we will suspend your Google Ads accounts upon detection and without prior warning, and you will not be allowed to advertise with us again.”

The law firm responsible for the plaintiffs in the High 5 Games case is bringing cases against ‘Big Tech,’ claiming they play the role of bookmakers for social casinos through processing payments and taking a significant commission. 

Todd Logan, partner at Edelson PC, commented: “Big Tech isn’t just standing by — they’re cashing in. This verdict is a milestone, but it’s only the beginning. Some of our clients lost hundreds of thousands of dollars to their gambling addictions here, and Big Tech cannot be allowed to continue to profit off of these devastating addictions. We will continue fighting to ensure Big Tech answers for its role in enabling and profiting from illegal gambling.”

Written By

Matt Bastock

Matt is a casino and sports betting expert with over two decades’ writing and editing experience. He loves getting into the nitty gritty of how casinos and sportsbooks really operate in order to make solid recommendations based on real experiences. His favourite games are blackjack and poker, and he loves watching NFL and soccer in his spare time.

The post New Google Gambling Ad Policy Targets Loopholes and Social Casinos appeared first on CasinoBeats.

Wilna van Wyk

A Washington jury has ordered social casino company High 5 Games to pay $24.9 million in damages to state players. 

The plaintiffs brought the case against High 5 Games after a court ruling last year found that its social casino business model violated Washington gambling state regulations.

A social casino model allows players to play slot titles using virtual chips instead of cash. Typically, these games are free to play, but players have the option to buy additional chips should they run out. 

Although virtual chips can not be converted into cash, plaintiffs argued they still held value because they allowed players to extend their playtime. The court and jury agreed, leading to a hefty fine. 

High 5 must pay $24,940,366, comprised of $18 million in damages directly relating to money lost on the company’s products and an additional $7 million in damages. 

High 5’s Targeting of “Whales”

Evidence provided to the jury showed that High 5 targeted customers classified as high-risk in the Evergreen State. These were classified as users prone to losing significant amounts of money on the site, dubbed “whales” by the social casino operator. 

One user had told High 5 that they had developed a gambling addiction and needed restrictions applied to their account. Instead, the company was allegedly ‘lured back into gambling’ on the website with an offer of free tokens. 

Edelson PC and Tousley Brain Stephens PLLC, the firm representing the plaintiffs, announced the verdict as its first victory in the years-long fight by consumers, aiming “to hold social casino operators accountable for the reality of their business operations: that they are illegal gambling operators preying on vulnerable gambling addicts.” 

Industry-Wide Implications: What’s Next for Social Casinos?

The law firm revealed that over $650 million had been paid in settlements by social casino operators in other cases brought by Edelson and Tousley, avoiding a court hearing. 

“Big Tech isn’t just standing by — they’re cashing in,” commented Todd Logan, partner at Edelson PC. He continued: “This verdict is a milestone, but it’s only the beginning. Some of our clients lost hundreds of thousands of dollars to their gambling addictions here, and Big Tech cannot be allowed to continue to profit off of these devastating addictions. We will continue fighting to ensure Big Tech answers for its role in enabling and profiting from illegal gambling.” 

Edelson serves as lead counsel in litigations against Amazon, Meta, Google, and Apple. The firm accuses them of acting as bookmakers in the business arrangement. They arrange the payments between consumers and the casinos and take a 30 percent commission. 

Cecily Jordan, Partner at Tousley Brain Stephens, added: “Today’s verdict sends a clear message: online casinos that exploit consumers under the guise of ‘social gaming’ will be held accountable. Ordinary people who have lost their life savings in these apps now have a jury vindicating them.” 

Written By

Wilna van Wyk

Wilna van Wyk is an online casino enthusiast with over a decade of experience working with some of the world’s biggest gambling affiliates, including Thunderstruck Media and OneTwenty Group. She specializes in gambling sites and games and provides expert knowledge on the online casino industry’s essential fundamentals.

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Through the partnership, GAN has agreed to distribute Stakelogic’s in-house igaming content to the social casino brands it works with in the US, as well as the studio’s live casino products. 

The deal sees Stakelogic tap into the rapidly expanding social casino sector, while marking a ‘major advancement’ for the space by combining social casino with live dealer gaming. 

Stephan van den Oetelaar, CEO at Stakelogic, commented: “We’re thrilled to join forces with GAN to bring our slot and live casino products to the US social casino market. This partnership allows us to swiftly roll out our content across the country, delivering a unique gaming experience tailored for American players. 

“We believe branded, custom-made content will become the industry standard in the coming years. In the months ahead, we will work closely with GAN and its social casino operators to develop a truly bespoke offering that sets a new benchmark for player engagement and entertainment.”

As a part of Stakelogic’s content offering, GAN’s partnered social casino brands will gain access to live dealer titles, such as roulette and blackjack, alongside game shows like Super Stake Roulette 5,000X and Super Wheel – The Live Game Show.

Additionally, brands working with GAN will benefit from custom-branded slots and live products designed specifically for their platforms. 

Guiseppe Gardali, President B2B at GAN, added:“With our partnership with Stakelogic, GAN is elevating social casino entertainment to a whole new level. Stakelogic’s hybrid slots, which blend traditional slots with live casino elements, are truly groundbreaking for the industry. 

“Live casino is still an emerging concept in the US, and thanks to Stakelogic, we’re able to lead the way in delivering the most innovative and high-quality gaming experiences available today.”

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Each of the adverts appeared as paid-for TikTok ads for the following five companies: 

• Dataverse Co. Limited t/a Gamehaus
• Huuuge Global Limited t/a Billionaire Casino
• Mobee Co Ltd t/a Ignite Classic Slots
• SpinX Games Ltd
• Zeroo Gravity Games LLC t/a Cash Tornado.

The ASA noted that each company’s advert implied that their games were gambling products where real-world money or tangible prizes could be won and withdrawn and therefore were misleading.

Slot gameplay imagery within the adverts was spotlighted by the ASA, such as a casino slot machine and graphics being visible within Huuuge Global’s Billionaire Casino adverts, a roulette-style wheel and slot machine in SpinX Games’ adverts, as well as gameplay footage similar to that of casino-based slot games in Dataverse Co Gamehaus’ adverts.

Verbiage within the adverts themselves was also highlighted by the authority, such as the terms “hitting the jackpot” and “payout” within Zeroo Gravity Games’ Cash Tornado advert and “super-high odds” and “jackpot” in Mobee’s Ignite Classic Slots advert, as associated with gambling and therefore could be misinterpreted as such by players.

Each of the five listed companies was deemed to have breached rules 3.1 and 3.3 of the UK Code of Non-broadcast Advertising and Direct & Promotional Marketing with their advertisements. CAP Code 3.1 states: “Marketing communications must not materially mislead or be likely to do so”. 

Meanwhile, CAP Code 3.3 reads: “Marketing communications must not mislead the consumer by omitting material information. They must not mislead by hiding material information or presenting it in an unclear, unintelligible, ambiguous or untimely manner.

“Material information is information that the consumer needs to make informed decisions in relation to a product. Whether the omission or presentation of material information is likely to mislead the consumer depends on the context, the medium and, if the medium of the marketing communication is constrained by time or space, the measures that the marketer takes to make that information available to the consumer by other means”.

In addition, Mobee Co’s “lack of response and apparent disregard for the Code” was deemed a breach of CAP Code 1.7, which states that: “any unreasonable delay in responding to the ASA’s enquiries will normally be considered a breach of the Code”.

The ASA told each of the five companies in question that the adverts must not appear again and that they must ensure that they did not imply consumers could win real-world money or tangible prizes.

The rulings against the five social casinos are part of a wider work by the ASA on paid-for gambling-like ads.

An ASA spokesperson said: “We understood that social casino apps emulate slot machines or other casino-based games, but that people couldn’t win or withdraw any real-world money. But all of these ads failed to make clear that this was the case, giving people a misleading impression.

“These rulings form part of a wider piece of work on paid-for gambling-like ads, identified for investigation following intelligence we’ve gathered. The rules are clear, these ads shouldn’t mislead consumers by creating the impression that they can win real-world prizes if this isn’t the case.”

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It forms part of the firm reimagining its social casino offering and growing the way it taps into free-to-play games through a collaboration with Ruby Seven Studios.

The offering will be titled Bally Play, and will offer in excess of 150 gaming titles, including Wheel of Fortune and Sweet Spin.

Bally’s Corporation CPO Sina Miri, commented: “As part of our growth strategy, we have been seeking to complement our brick-and-mortar and interactive gaming offerings with a social casino. Working with Ruby Seven Studios has allowed us to create a unique, best-in-class social casino experience for our existing players and can help us attract new players.”

It comes as Bally Play is being revamped after serving as an F2P offering for sports-related games. Bally’s had secured deals in minor league baseball with MiLB to deliver Minor League Rundown, a F2P game, on Bally Play. 

Bally’s also recently enhanced the user experience within its casino offering after it agreed a deal with OPTX, appointing the tech provider as its Enterprise AI partner for operational solutions. 

The deal meant that OPTX’s roster of AI-powered igaming tech solutions integrated into every Bally’s proprietary across the US, aiming to elevate gaming experience across its venues with analytics and player engagement tools. 

Brooke Fiumara, Co-CEO at OPTX, stated on the partnership when it was announced: “The chance to collaborate with an industry titan such as Bally’s is truly humbling. Serving as the Enterprise Al partner for Bally’s is not only an honour but also a significant responsibility.

“Introducing an operational forward tool to the enterprise holds immense significance as it empowers the organisation to fully harness the capabilities of AI through OPTX’s award-winning operational functionality.

“By adopting such a tool, the enterprise gains a strategic advantage in leveraging AI technologies and operational efficiencies across various aspects and all levels of its operations.”

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The crypto-focused operator confirmed it will make its debut in spring, as it looks to increase the social aspect within igaming.  

MyPrize, which combines online gaming and streaming, has raised $13m across two funding rounds giving the company an enterprise value of $140m.

“MyPrize takes all of the fun of the existing single-player online gaming market and makes it multiplayer,” said founder and CEO Zach Bruch. “We are bringing a major shift to the online social casino industry, by offering a truly immersive and community-driven experience that’s really never been possible before.”

Key to the MyPrize offering is ‘a unique gaming experience’ with the firm enabling the integration of the platform into streaming services, including Twitch, LivePeer, and Kick. 

MyPrize has closed two funding rounds from an impressive portfolio of investors, including Silicon Valley VC firms that focus on investments in entertainment, tech, and crypto. The company’s funding rounds were led by DragonFly and Coincident Capital and included participation from Arrington Capital, 640 Oxford, a16z, and Mechanism Capital.

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Midway through the past year, Edvardas Sadovskis, CPO at BETER Live, spoke of taking the division, which forms one of three at BETER alongside sports and esports, to new heights through a series of overhauls and expansion strategies.

In our latest conversation, he discusses the importance of offering dedicated tables and studios, where we can expect expansion to come through the current year and what attendees can expect from this week’s London extravaganza.

CasinoBeats: You are attending the upcoming ICE 2024, how different is BETER Live since the last exhibition?

Edvardas Sadovskis: Since the last exhibition, BETER Live has experienced a significant transformation. We’ve strategically established a new studio in Romania, emphasising our dedication to operational excellence and a targeted approach to that market. 

The unveiling of our innovative promotional engine, featuring two fully automated features: ‘Bet & Get’ Bonus and ‘Tournaments’ leaderboards, demonstrates our commitment to enhancing user journeys and setting new standards for customer engagement.

In addition to the Gravity Series, our introduction of Gravity Roulette and Gravity Sic Bo showcases our dedication to infusing classic casino games with dynamic multipliers, providing players with an exhilarating experience. 

Speaking about our newest product vertical – the exploration of virtual RNG-based games further underlines our commitment to staying at the forefront of technological advancements and catering to the diverse preferences of our global audience.

Furthermore, we are proud to announce the successful development of a social casino solution tailored for the US market. 

This strategic move has resulted in successful partnerships with some of the biggest brands in the US, solidifying our position as a trusted and innovative partner in the gaming industry.

CB: BETER Live also offers dedicated tables and studios for its partners. Why is it important to expand this area?

ES: Our offer in dedicated tables and studios is driven by our industry expertise, providing a strategic advantage for both BETER Live and our partners. 

This project lowers player acquisition costs, enhances player retention and engagement, allows for product-specific localisation, and comes with dedicated marketing support. It offers a wide range of customisation options, fostering a collaborative and mutually beneficial relationship.

CB: Could you give us an overview of some of the projects planned for 2024?

ES: In 2024, BETER Live has an exciting lineup of projects that align with our commitment to innovation and global expansion. 

Firstly, with our high-tech promotional engine, we’re set to introduce a third promotional tool, enhancing our ability to offer a more personalised and engaging experience for users.

One of the highlights of the year will be the launch of new games that will bring a unique proposition to the market, featuring dynamic multipliers. 

These games are designed to provide players with a fresh and exhilarating gaming experience, setting them apart in the industry.

Towards the end of the year, our focus will shift towards the development of a new game show, reflecting our dedication to pushing the boundaries of entertainment, and creating novel and immersive experiences for our audience.

In terms of market expansion, BETER Live has ambitious plans to broaden its presence in key regions. We will be focusing on strategic growth in Europe, Asia, and LatAm, aiming to establish strong footholds in these markets, and cater to the diverse gaming preferences of players worldwide.

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This latter point is once again a key talking point of an address delivered by CEO and MD Trevor Croker, who stressed that the company is focused on continuing to navigate challenges ahead.

This includes focusing “on portfolio performance and capturing the significant strategic opportunities in front of us”, which comprises delivering on its online gaming ambitions and maximising the impact of the impending NeoGames purchase.

After meeting an ultimately doomed fate following a long protracted $2.7bn Playtech pursuit, Aristocrat is expecting to close the aforementioned $1.2bn acquisition during the first half of 2024.

During the year, Croker has hailed company growth as demonstrating “ongoing resilience, competitiveness and diversification”, in addition to “sound fundamentals” that have enabled Aristocrat to “accelerate investment behind our successful growth strategy”.

Within the group’s latest financial breakdown, Aristocrat reported a revenue increase of 13 per cent to A$6.29bn (2022: A$5.57bn), with the aforementioned factors, in addition to “the benefit of our strategic investments”, said to be “particularly evident”.

Elsewhere, net profit after tax recorded a 24.4 per cent uptick to A$1.24bn (2022: A$1bn), while EBITDA closed at A$2.1bn, up 13.8 per cent year-on-year from A$1.85bn. 

The Aristocrat Gaming division saw the Americas deliver an increase in post-tax profit, driven by a 26 per cent increase in North America outright sales units, while Pixel United is said to have “demonstrated resilience” despite the global mobile games market declining five per cent.

Furthermore, Anaxi is reported as having “delivered on its initial market entry commitments and continued to establish solid foundations for growth”. 

The group’s RMG unit is live with seven operators in six countries across eight jurisdictions, and has secured “content agreements with partners representing over 80 per cent of the US igaming market”.

Croker continued: “The benefit of our strategic investments to grow and diversify Aristocrat was particularly evident in the strong seven per cent revenue and EBITDA growth in constant currency at group level over the year. 

“This was underpinned by an exceptional gaming performance which more than offset an extended industry-wide moderation in mobile game demand, again highlighting diversification and scale as fundamental strengths of our business.” 

Adding: “We continued to invest to grow in attractive adjacencies and verticals, as we build further resilience in our operating portfolio, including through executing our ‘build and buy’ strategy in online RMG.”

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In addition, despite recently closing a transaction to secure full wonder of SciPlay, the group has asserted that it possesses “flexibility to invest” as it looks to accelerate progress towards achieving strategic and financial goals.

Revenue through the third quarter came in at $731m, up 13 per cent from $648m year-on-year, driven by double digit growth across all three core business segments.

Gaming continues to take the lion’s share after rising 23 per cent to $465m (2022: $419m), which is aligned to strong machine sales across North America and Australia, as well as maintained momentum by its suite of table products.

The aforementioned SciPlay, up 15 per cent YoY to $196m (2022: $171m) for a record breaking performance, saw its quarter epitomised by the strength of its social casino business. This is said to have “delivered strong payer metrics and once again outpaced the market and gained share”.

“We will continue to capitalise on this momentum, as evidenced by the talent acquisition efforts we’ve recently accomplished”

Matt Wilson, President and Chief Executive Officer of Light & Wonder

Elsewhere, the company’s igaming segment swelled 21 per cent to $70m (2022: $58m), another high, driven by growth in the US (+25 per cent) and international markets. 

“Our tremendous team at Light & Wonder continues to deliver exceptional results with double-digit growth across all three of our businesses for the fourth consecutive quarter,” commented Matt Wilson, President and Chief Executive Officer of Light & Wonder. 

“Additionally, we also reached two significant milestones, which included closing the SciPlay transaction and inclusion into the ASX 200 index in Australia. We had successful showings at both the Australasian and Global Gaming Expos with the strength of our product portfolio on full display. 

“The positive feedback we received on our wide range of cabinets and games further validates our focused investment in R&D and vision for the future of the company. 

“We will continue to capitalise on this momentum, as evidenced by the talent acquisition efforts we’ve recently accomplished. Coming out of G2E, our conviction has never been higher that we will reach our full potential as we approach the end of 2023.”

Further headline figures saw net income quadruple YoY to $80m (2022: $20m), which L&W put down to higher revenue and operating income, as well as a non-cash foreign currency transaction gain.

This was partially offset by $15m loss on financing transactions associated with the issuance of 2031 unsecured notes, and redemption of 2025 unsecured notes in August of 2023.

“Our business segments’ AEBITDA are at their highest levels in 2023”

Oliver Chow, Interim Chief Financial Officer of Light & Wonder

Furthermore, adjusted EBITDA increased 22 per cent to $286m (2022: $235m), driven by double-digit growth and margin expansion across all of our businesses.

Light & Wonder also revealed $3.9bn of principal face value of debt outstanding which, translated to net debt leverage ratio of 2.8x. This falls with a target of 2.5x and 3.5x, and is said to be “the lowest level in the company’s recent history”.

For the year-to-date, revenue, net income and AEBITDA increased 16.44 per cent to £2.13bn (2022: $1.83bn), $112m from a loss of $197m one year earlier and 25.77 per cent to $815m (2022: $648m), respectively.

Oliver Chow, Interim Chief Financial Officer of Light & Wonder, added: “This quarter demonstrated our commitment to growing the business and maintaining healthy margins. 

“Our business segments’ AEBITDA are at their highest levels in 2023 as we continue to stay intensely focused on executing on our strategy while driving margin enhancement initiatives. 

“Our commitment to operational efficiencies coupled with strong top line growth enabled us to generate significant cash flow. 

“We have a strong financial profile and capital structure, which positions us well in our current growth stage, providing us with flexibility to invest as we advance toward our strategic and financial goals.”

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