Light & Wonder(US:LNW)2025-05-20 19:00Summary of Light & Wonder (LNW) 2025 Investor Day Company Overview - Company Name: Light & Wonder (LNW) - Headquarters: Las Vegas, Nevada - Market Presence: Dual listed on NASDAQ and ASX, with nearly 40% of market cap on ASX - Employee Count: Approximately 6,500 globally - Revenue: Consolidated revenue of just under GBP 3.2 billion, representing a 13% CAGR since 2022 [8][9][27] Financial Performance - EBITDA: Grew to $1.24 billion, a 17% CAGR [9][27] - NPATA: Increased to $480 million, a 24% CAGR [9][27] - Debt Reduction: Leverage reduced from 10.5 times in 2020 to 3 times currently [29] - Shareholder Returns: $1.2 billion returned to shareholders through share repurchase programs [29] Strategic Initiatives - Acquisition of Grover Charitable Gaming: Aimed at enhancing growth in the charitable gaming segment, which is a fast-growing adjacency with over 20% top-line growth [54][55][59] - R&D Investment: Increased internal rate of investment in R&D and CapEx by 28% since 2022 [22][28] - Future Financial Targets: Targeting $2 billion in EBITDA by 2028 and doubling NPATA per share from $5.27 to over $10.55 [33][34] Market Position and Growth Strategy - Gaming Segments: Focus on gaming, iGaming, social casino, and now charitable gaming [42] - Game Performance: Held 28% of the top new core performing games in North America as of the latest report [25][27] - Expansion Plans: Plans to enter new markets, including Indiana, which presents a $100 million revenue opportunity [79] Charitable Gaming Insights - Market Size: Charitable gaming market valued at $4.4 billion, with $1.1 billion allocated to electronic pull tabs [73] - Customer Loyalty: Strong customer base committed to supporting charities through gaming [74] - Integration of Grover: Grover's existing game mechanics will be enhanced with Light & Wonder's game catalog, improving quality and profitability [62][100] Corporate Culture and ESG Commitment - High-Performance Culture: Emphasis on attracting and retaining top talent, with a focus on collaboration and integrity [45][49] - ESG Initiatives: Investment in responsible gaming programs and alignment with UN Sustainable Development Goals [51][53] Conclusion - Future Outlook: Light & Wonder is positioned for significant growth through strategic acquisitions, enhanced R&D, and a focus on high-quality game development across multiple gaming segments, including the newly integrated charitable gaming sector [41][43][100]