External broker reports(aggregated public sources), Bell Potter Securities

Bell Potter

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to individuals, institutions and corporations.

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External broker reports(aggregated public sources)

Bell Potter Securities

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to individuals, institutions and corporations. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>LNW reported Q2 2024 results ahead of our estimates and VA consensus.</li><li>Key points: Profit &amp; loss: LNW reported +12% YoY revenue growth in Q2 2024 to US$816m (BPe of US$798m and consensus US$796m), supported by +14% YoY growth in Gaming to US$539m (BPe US$512m), +8% YoY growth in SciPlay to US$205m (BPe US$208m) and +6% YoY growth in iGaming to US$$74m (BPe US$78m).</li><li>Adjusted EBITDA was US$330m (BPe US$310m), supported by revenue growth and margin contribution from Gaming and SciPlay. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

LNW reported Q2 2024 results ahead of our estimates and VA consensus.Key points: Profit &amp; loss: LNW reported +12% YoY revenue growth in Q2 2024 to US$816m (BPe of US$798m and consensus US$796m), supported by +14% YoY growth in Gaming to US$539m (BPe US$512m), +8% YoY growth in SciPlay to US$205m (BPe US$208m) and +6% YoY growth in iGaming to US$$74m (BPe US$78m).Adjusted EBITDA was US$330m (BPe US$310m), supported by revenue growth and margin contribution from Gaming and SciPlay. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Light & Wonder (LNW): Q2 2024 – Unleashing the Dragon