Light & Wonder posts 78% leap in Q3 income
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The news: Gambling company Light & Wonder reiterated its full-year financial outlook after recording a 78% jump in net income for the third quarter.
The numbers: The US-based company, which is in the process of moving from a dual-listing to a sole primary listing on the ASX, said net income was up 78% year on year to USD114 million ($175 million).
Consolidated revenue lifted 3% to USD841 million. Consolidated earnings grew 18% to USD375 million while adjusted net profit was up 25% to USD153 million.
The context: Light & Wonder said the Q3 result was boosted by gaming operations revenue, including growth in its charitable gaming arm Grover.
Chief executive Matt Wilson said the move to a sole primary listing will simplify its listing structure for shareholders and enhance the company's profile within a "gaming-attuned" Australian market.
The source: ASX
