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CASINO & GAMES
HAS MATT WILSON RESTORED THE MAGIC AT LIGHT & WONDER ?
Light & Wonder is thriving across in-person , social and online channels and has tapped into new capital markets . CEO Matt Wilson tells Robin Harrison it is now eyeing opportunities for growth in Asia and through US igaming
L ight & Wonder ’ s quarterly results keep validating the decision to divest its sports betting and lottery arms . Revenue for the third quarter of 2023 showed growth of 12.8 % to $ 731m (£ 582m /€ 677m ), aided by record returns from igaming and social casino games . It ’ s the fifth consecutive quarter of year-on-year , double-digit growth for the supplier .
But in chief executive Matt Wilson ’ s eyes , companies can only be worldclass at a limited number of things . “ We said we can ’ t be the best lottery company and the best sports platform
and the best social casino company and so on – you just can ’ t do all those things . So we chose to be a content company keeping three very complementary businesses .”
LIGHT & WONDER : THE FIRST OF MANY ? “ It ’ s very competitive out there and those throwback 80s-style conglomerates where lots of different businesses doing different things are rolled up together only fit in a portfolio because the same owner owns them ,” Wilson adds . “ That model doesn ’ t work .”
ICE LONDON 2024 • ISSUE 135 • 29