Headquartered in Las Vegas, Light & Wonder is an American corporation that provides gambling products and services.
“Light & Wonder (LNW) delivered another impressive result despite the litigation headwinds,” Raymond said.
“Much of the heavy lifting was done by LNW’s land-based division, with strong international outright sales and a net addition of 853 units quarter-on-quarter in North American gaming ops. “Our earnings per share (EPS) estimates increase by approximately 7-8% across financial year 2025-2026F, largely due to the inclusion of the Grover Gaming acquisition in our forecasts.
“Most importantly, the acquisition is incremental to LNW’s pre-existing guidance.
“Looking ahead, the company has guided to low double-digit Adj-EBITDA growth in the first quarter of 2025, which we expect to accelerate through the year.
“With resilient US slot demand, strong gaming ops expansion and disciplined cost management, we believe LNW remains well-positioned for continued outperformance.
“We maintain our ADD recommendation and increase our target price from A$175 to A$220,” Raymond said.
Light & Wonder (LNW)
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