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Light & Wonder Unveils New Earnings Forecast of Over $2 Billion by 2028
May 22nd, 20254 mins

Light & Wonder Unveils New Earnings Forecast of Over $2 Billion by 2028

Light & Wonder has revealed its forecast for the coming years of more than $2 billion by the year 2028. In spite of a slightly rough start this year, the slot machine manufacturer still projects earnings of $1.4 billion in 2025, and it doesn't include the benefits it is projected to gain from the acquisition of G2 Gaming, Inc. and Grover Gaming. On a difficult day for the broader stock market and gaming sector, Light & Wonder has emerged as a rare bright spot, unveiling a bold long-term forecast during its investor day event. The slot machine manufacturer announced it is targeting $2 billion in adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) by 2028 - a significant leap from current levels. Reaffirming 2025 targets despite Q1 hurdles Despite challenges during the first quarter of the year, Light & Wonder reaffirmed its 2025 adjusted EBITDA guidance of $1.4 billion. This projection, which suggests a compound annual growth rate of 15% since 2022, does not account for potential synergies and revenue boosts from its recent $850 million acquisition of assets from G2 Gaming, Inc. and Grover Gaming, Inc. Analysts welcomed the reaffirmation as a sign of stability amid headwinds. The company also expects its earnings per share to double by 2028, rising from $5.27 in 2024 to $10.55. Jeffrey Stantial, an analyst from Stifel, noted that the long-term targets were 'sufficiently achievable' and even 'conservative' when compared to the company's peers. "Implied organic growth still nicely outpaces most rivals," he wrote in a client note. He also cited improved clarity surrounding ongoing litigation with Aristocrat Leisure, adding that a resolution could act as a catalyst for the stock, which he rates hold with a $95 target. Grover Gaming acquisition a driver of key growth A major focal point for Light & Wonder's future is its recent acquisition of Grover Gaming and G2 Gaming - a deal seen by many as a potential growth engine, particularly in the charitable gaming sector. David Katz, a Jefferies analyst, highlighted the acquisition's immediate impact, noting it should add approximately 10,000 units to the company's installed base. He also pointed to the legalization of electronic charitable pull-tab devices in Indiana, where operations are set to commence on July 1, 2025. Katz estimates an additional 1,200 units could be deployed in the state by 2026. "It [the Grover acquisition] should add 10K units immediately, with a path to upgrade content in five existing markets and new units in Indiana," Katz noted. "We've added the legacy 10K units to our installed base at an estimated $37 WUD." Charitable gaming offers casino-style wagering through lotteries, slot machines, and table games, but is operated by nonprofit organizations rather than commercial or tribal casinos. Light & Wonder, already a major player in the slot machine space, stands to benefit from Grover's strong financials - including its $111 million in adjusted EBITDA for 2024 and EBITDA and revenue CAGRs of 31% and 29% from 2022 to 2024. Australian listing strategy remains in focus Nearly two years after debuting a secondary listing on the Australian Securities Exchange, Light & Wonder is also considering expanding its presence there. The company's primary listing remains on the Nasdaq, but analysts and shareholders continue to speculate on the potential shift in strategic emphasis. According to Katz, about 62% of Light & Wonder's issued share capital is tied to the US listing, with the remainder linked to Australia. The company expressed interest in joining the ASX 100 and eventually the ASX 50 - two of Australia's key stock indices. It has already achieved inclusion in the Russell 1000 Index in the United States. While some view Light & Wonder's 2028 forecast as conservative, it sets a strong foundation for steady growth. With strategic acquisitions like Grover, potential legal clarity, and expanding geographic footprints, analysts believe the company is well-positioned to outperform its peers in the coming years.

Alabama’s Creek Indian Tribe Pushing for Renewed Approach to Sports Betting and Casino Gaming
May 22nd, 20254 mins

Alabama’s Creek Indian Tribe Pushing for Renewed Approach to Sports Betting and Casino Gaming

The Poarch Band of Creek Indians from Alabama has just announced a brand-new approach for the legalization of casino gaming and sports betting in the state. Instead of seeking out legalization only in the legislative session, it will focus on legalization throughout the entire year. Alabama is still one of the few US states with no lottery, and legislators have regularly tried to introduce the legislation, along with casino gaming and sports betting, with no luck for a good number of years. In the face of repeated legislative setbacks, the Poarch Band of Creek Indians is adopting a new, year-round strategy to push for the legalization of casino gambling and sports betting in Alabama. The move signals a shift in how the tribe plans to build momentum behind an issue that has long divided lawmakers, despite strong public support. Rethinking the strategy Rather than waiting for the next legislative session, PCI leaders are working to keep the conversation about legalized gambling alive throughout the whole year. Arthur Mothershed, Executive Vice President of Business Development and Government Relations for Wind Creek Hospitality - the tribe’s gaming arm - emphasized the need for a more proactive approach. "I think too often we wait until the session starts and then we start working for this agenda or trying to push this agenda across the finish line," Mothershed said. "I think we've got to do a better job of getting the voices of the people heard." The tribe plans to launch a series of polling initiatives and focus groups before the summer to fine-tune its messaging and build grassroots support. Alabama's gambling landscape Alabama remains one of only five states with no state lottery, and efforts to establish one have consistently failed in the legislature over the last 25 years. In recent years, proposed legislation has expanded beyond a lottery to include casino gambling and sports betting - but disagreements over specifics such as revenue allocation have stalled progress. Despite these political hurdles, public opinion is decidedly in favor of bringing gambling to the state. Polls show that up to 80% of Alabamians support the opportunity to vote on a lottery, and many are open to broader gambling reforms. Amplifying tribal voices The Poarch Band of Creek Indians currently operates three electronic bingo casinos in the state and has been increasingly vocal about the need for expanded gambling options. The tribe acknowledges it must do more to advocate for the communities it serves and the economic benefits legalized gambling could bring. "We're already in the process of setting up more polling before the summer even starts, putting together some focus groups so that we can get a better message to the legislators," stated Mothershed. In a show of commitment, PCI bought the Birmingham Race Course last year and partnered with the influential lobbying company Fine Geddie. The tribe had even begun preparing for extensive renovations at its facilities, anticipating the passage of a comprehensive casino gambling bill. According to projections, legalized gambling could bring over 10,000 jobs to Alabama, along with significant new revenue for the state. Facing political resistance Still, the road to legalization remains steep. After another failed attempt at passing gambling legislation earlier this year, Senator Greg Albritton, a longtime supporter of the initiative, declared the issue effectively dormant for the foreseeable future. "We've been struggling with this for 25 - 26 years already...I don't see anything changing," said Albritton, expressing doubt that consensus among lawmakers could be reached anytime soon. The sentiment contrasts with public opinion and the stance of Governor Kay Ivey, who has signaled openness to a voter referendum on the issue. However, a lack of alignment among lawmakers continues to block meaningful progress. The Poarch Creek's new strategy aims to bridge that divide by mobilizing voters and reshaping the narrative around gambling in Alabama. With increased outreach and a more sustained lobbying effort, the tribe hopes to turn public support into political action.

Xtreme Gaming Earns Spot in the Esports World Cup 2025
May 22nd, 20254 mins

Xtreme Gaming Earns Spot in the Esports World Cup 2025

A well-timed victory by Xtreme Gaming in the Asian Champions League now puts them on the driver’s seat to represent China in the Esports World Cup. The Dota 2 team is now eager to take on the challenge this August and looks to continue their hot groove after finishing strong for the recent Chinese Qualifier event. Coming off massive roster adjustments in which they had to replace position 5 support player Qiancheng “Undyne_” Li with a veteran star in Jiang “天命 (Tian ming)” An, Xtreme Gaming looked good in this campaign in the ACL. It seems that they are finally reaping the benefits of this roster shift after they lost their ESL One Raleigh 2025 slot. This win comes off as a promising groove setter for the team now more than ever, especially with the TI 2025 Regional Qualifiers also coming in hot. The stakes are higher than ever, and it seems that there’s more to expect from Xtreme Gaming with their chances of being the first Asian team who could clinch the EWC title now more than ever. Massive Win to Remember Both Xtreme Gaming and Team Tidebound have been deemed to be the best teams in China over the years. It is definitely destiny that these two teams managed to meet up in the final of the Asian Champions League 2025 and gave fans a promising showdown to remember. Xtreme managed to knock out Tidebound in a 3-2 win in the Grand Finals, walking away with the $100,000 prize money. The ACL, organized by ESL Gaming, DreamHack, and Hero Esports, was held live at the National Exhibition and Convention Center in Shanghai. However, this tournament featured a different pace as it was held only on a single day – with four teams playing in a compact single-elimination format. As one of the strongest teams in China, it is a promising look to see Xtreme Gaming thrive on the big stage. What makes this win even more crucial is the fact that they managed to lock into a spot for the Esports World Cup – because Tidebound was recently named one of the eight directly invited teams to The International (TI) 2025. More Than Just a Win The victory puts Xtreme Gaming in a promising position to be one of the teams to go for a shot at the massive $3 million prize pool in the Esports World Cup. However, Xtreme Gaming's journey to the Esports World Cup is not without challenges. While their regional dominance is evident, their performance in international tournaments has been inconsistent. Notably, despite a strong showing in the Games of the Future 2024, where they clinched the championship by defeating LGD in the grand finals, they faced early elimination at The International 2024, falling to Team Spirit in a decisive 2-1 series. This fluctuation in performance highlights the unpredictable nature of the competitive Dota 2 landscape. This victory underscores their resilience and strategic depth, essential qualities for success on the international stage. The roster's recent changes, including the return of seasoned players like Ame, Xxs, and XinQ, alongside the appointment of veteran coach Xiao8, have revitalized the team's dynamics, bringing a blend of experience and synergy that could prove pivotal in high-stakes tournaments. Now more than ever, it seems that Xtreme Gaming is definitely in need of a chance to prove its worth on the big stage and send its presence to another level as well.

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At GambleSpot, our team of seasoned experts brings you a wealth of industry knowledge accumulated over a decade, with a singular focus on delivering accurate and reliable information about regulated and responsible gambling in the United States. Rest assured; we painstakingly curate our offerings to feature only reputable operators, ensuring a secure and equitable gambling environment.

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Discover the best legal land-based casinos across the U.S. on GambleSpot. We provide comprehensive details about licensed casinos, ensuring you enjoy safe and regulated gaming experiences. From luxurious resorts to smaller local establishments, explore the amenities, games, and unique features each legal casino offers. Stay informed about state regulations and find the top-rated legal casinos near you for an unforgettable experience.

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Rosie’s Gaming Emporium – Hampton
Rosie's Gaming Emporium – Hampton, located in Hampton, Virginia, is the ultimate casino for fun. Open 8am-4am daily, it offers a unique twist on your favorite classic casino games, with all games based on past historical horse races and the results seen on the "slot machine-type" reels for entertainment purposes only. So why wait? Visit Rosie's Gaming Emporium for the most enjoyable entertainment in Hampton, Virginia.
1996 Power Plant Parkway, Hampton, VA 23666
Phone Number: (804) 557-5600
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Rivers Casino Portsmouth
Rivers Casino Portsmouth, located in Portsmouth, Virginia, offers guests an entertaining and relaxing experience with its four restaurants, and variety of games such as Slots, Video Poker, Blackjack, Craps, Roulette, Baccarat, Poker, Texas Hold 'Em, and Three and Four Card Poker. There's something at this casino for everyone, so why not come and visit Portsmouth's Rivers Casino and try your luck?
3630 Victory Boulevard, Portsmouth, VA 23701
Phone Number: (757) 840-2100
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Hard Rock Hotel & Casino Bristol
Hard Rock Hotel and Casino Bristol is located in Bristol, Virginia and is the ultimate destination for entertainment and relaxation. The property features two bars and three restaurants, an expansive and luxurious casino and gaming area, several amenities and luxury spa treatments, and top-notch entertainment that can accommodate up to 600 people. For an overwhelming experience, you can call the toll-free number 844-490-4625. Hard Rock Hotel and Casino Bristol is the spot to stay and play in Bristol, Virginia.
500 Gate City Highway, Bristol, VA 24201
Phone Number: (276) 696-3660
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Rosie’s Gaming Emporium – New Kent
Rosie's Gaming Emporium - New Kent is located in New Kent, Virginia and is inside the Colonial Downs Racetrack. Open from 8am-2am/4am on Fridays and Saturdays, Rosie's offers entertaining ways to play. Instead of traditional slot machines, all games are based on past horse races and the results seen on the reels are for entertainment purposes only. The thrill of the race continues at Rosie's Gaming Emporium - New Kent.
10515 Colonial Downs Parkway, New Kent, VA 23124
Phone Number: (804) 966-7223
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Rosie’s Gaming Emporium – Dumfries
Rosie's Gaming Emporium in Dumfries, Virginia is the local favorite for a good time. Offering a classic gaming experience, the Emporium has 8am-2am (4am on Fridays and Saturdays) hours and plenty of old-school games to choose from. All games are based on historical horse races and the results on the entertainment-only slot machine-type reels provide big thrills - and even bigger wins! With old-fashioned hospitality and a friendly atmosphere, it's no wonder Rosie's Gaming Emporium has become the area's go-to spot for gaming fun.
18069-E Triangle Shopping Plaza, Dumfries, VA 22026
Phone Number: (804) 557-5699
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Rosie’s Gaming Emporium – Richmond
Rosie's Gaming Emporium – Richmond offers a unique twist on traditional casinos. Located in Richmond, Virginia, this gaming emporium celebrates the rich horse racing history of the state with its innovative game options. Here, all games are based on past historical horse races, and the “slot machine-type” reels are for entertainment purposes only. Open from 8am-4am/6am (Fri/Sat), Rosie's Gaming Emporium – Richmond is the perfect place for a night of Galloping Racing action. Try it out today and experience Virginia's most exciting gaming experience!
6807 Midlothian Turnpike, Richmond, VA 23225
Phone Number: (804) 557-5500
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Rosie’s Game Room – Collinsville
Rosie's Game Room in Collinsville, Virginia, offers 37 gaming machines located in an off-track betting facility, with hours 8am-2am (4am Fri/Sat). Perfect for entertainment purposes, Rosie's Game Room allows you to test your luck and take a break from the traditional horse races with "slot machine-type" reels. Come down and experience the thrill at Rosie's Game Room in Collinsville!
2360 Virginia Avenue, Collinsville, VA 24078
Phone Number: (804) 557-5709

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