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Gaming Tech Earnings Forecast Shows Positive Trends, Says Stifel Analyst
In a recent client note, Stifel analyst Jeffrey Stantial indicated that Light & Wonder and PlayAGS are expected to surpass market expectations for the June quarter

As the second quarter earnings season continues, gaming technology companies are preparing to announce their financial results. Analysts expect a generally positive performance across the sector.
Stifel Analyst Predicts Strong Q2 for Light & Wonder and PlayAGS, Mixed Outlook for IGT and Everi
According to a recent client note from Stifel analyst Jeffrey Stantial, Light & Wonder and PlayAGS are likely to beat market expectations for the quarter ending in June. International Game Technology is expected to meet Wall Street forecasts while Everi may fall short.
IGT’s forecast is particularly interesting as it merges its global gaming and PlayDigital units with Everi in a $6.2 billion deal announced earlier this year. The consolidation is anticipated to rationalize IGT’s operations and increase focus on its lucrative lottery segment.
While second-quarter sales of lottery tickets and scratch-off games might have been weak, Mega Millions pricing adjustments and better content offerings could fuel growth in H2 2024, according to Stantial who also said ongoing economic headwinds such as inflation and high fuel prices were impacting consumer spending particularly among lower income groups that buy lotteries.
Nevertheless, Stantial remains constructive about IGT’s outlook rating the stock at “buy”. It seems soft core lottery sales could be attributed to what he calls “jackpot fatigue” though sales of multi-state jackpot games like Powerball and Mega Millions have remained steady over last year.
Stantial Highlights Light & Wonder’s Market Confidence and Sector-Wide Investment Opportunities
There are some standout performers in the wider gaming technology sector. For example, Light & Wonder has gained 28.71% since the beginning of 2024. The company is actively deleveraging and recently set out a $1 billion share buyback plan which shows confidence in its market valuation.
According to Stantial, slot machine manufacturer valuations are currently below historical averages implying potential investment opportunities. Interest rates could impact the sector but careful stock selection will be key.
The gaming tech M&A landscape has shown signs of activity though large-scale deals may be limited. The notable IGT/Everi deal and Brightstar Capital Partners’ $1.1 billion bid for PlayAGS suggest consolidation is growing in appeal, while Evolution’s $85 million acquisition of Galaxy Gaming further highlights this trend.
However, smaller companies in the sector could face competitive pressures and depressed valuations possibly curbing significant M&A in the near term, warned Stantial. Stantial further said that ongoing consolidation should help to stabilize valuations. It will be important to monitor ownership changes and integration efforts which can create both market share opportunities and risks, added Stantial.
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Silvia has dabbled in all sorts of writing – from content writing for social media to movie scripts. She has a Bachelor's in Screenwriting and experience in marketing and producing documentary films. With her background as a customer support agent within the gambling industry, she brings valuable insight to the Gambling News writers’ team.
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