In the vast landscape of online casinos, Light & Wonder stands as a beacon of stability and growth. Fitch, a reputable capital market analyst, recently updated the company’s rating, expressing confidence in its ability to achieve EBITDA leverage goals by 2024. Despite acknowledging a slight default risk, Fitch assigned Light & Wonder a BB rating, affirming its financial stability.
Optimism Amidst Risk
Fitch’s optimism extends to the projection that Light & Wonder will reduce its EBITDA leverage to 3.7x by the end of 2023 and further to 3.3x in 2024. The agency anticipates that the company’s robust gaming equipment and systems cash flow will be instrumental in achieving this reduction.
Strategic Moves and Regional Expansion
- SciPlay Acquisition Boosts Business
Fitch acknowledges the positive impact of Light & Wonder’s acquisition of SciPlay, stating that the company expects Free Cash Flow (FCF) generation and liquidity to align with its BB rating.
- APAC Expansion – Key Focus on Australia
Notably, Light & Wonder has set its sights on the Asia-Pacific (APAC) region, with a particular emphasis on Australia. The company has strengthened its position in the country by securing a secondary listing on the Australian Securities Exchange.The agency recognizes Australia as a key market for Light & Wonder, highlighting the company’s doubled-down efforts in the region. This strategic move aligns with the company’s commitment to expanding its footprint in lucrative markets such as Singapore and the Philippines.
Financial Success and Quarterly Report
- Q3 Financial Report Highlights
Light & Wonder recently published its third-quarter financial report, revealing impressive results. The company celebrated revenue growth for the tenth consecutive quarter, with SciPlay’s division playing a pivotal role in this success.
- SciPlay’s Momentum and Acquisition
The acquisition of SciPlay in October has proven to be a strategic move, contributing significantly to Light & Wonder’s growth. Matt Wilson, the CEO of Light & Wonder, expressed enthusiasm about building on SciPlay’s considerable momentum.
Play Online Casino in Australian Style
In the dynamic realm of online casino gaming, Light & Wonder invites Australian players to experience the thrill of playing online casino games. The company’s commitment to providing a secure and enjoyable gaming experience aligns with the preferences of the discerning Australian audience.
As Light & Wonder navigates the intricate landscape of online gaming, Fitch’s positive outlook, strategic acquisitions, and focused regional expansion position the company for continued success. The Australian market, in particular, holds significant promise for Light & Wonder, reflecting its dedication to meeting the diverse gaming needs of players in the region.