ASX 200 gaming stock Light & Wonder Inc (ASX: LNW) opened in the green on Wednesday after the company reported its annual results for 2024.

Shares in the games company are currently swapping hands at $165.67 apiece, nearly 5% higher on the day as investors react positively to the annual numbers.

Let's jump in and see.

ASX 200 gaming stock climbs on FY24 numbers

Light & Wonder was busy in 2024 and posted several data points in its annual report. Here are the main takeaways:

• Revenue reached a record $3.2 billion, up 10% on the prior year
• Gaming revenue surged by 12% year over year
• This was underlined by gaming machine sales, which were up 22%, and gaming systems, up 13%
• SciPlay revenue grew by 6% to $821 million
• iGaming revenue increased by 9% over the year
• Operating income grew by 29% compared to the prior corresponding period
• Net income came to $336 million, a 110% increase year over year

What else happened in FY24?

Light & Wonder saw growth throughout its profit and loss statement in FY24. The ASX 200 gaming stock saw revenues jump 10% year over year on a 29% spike in operating profit.

This saw a record of $3.2 billion at the top line, with $2.1 billion of this from gaming revenue alone.

Growth was underscored by gaming machine sales and the gaming systems division, which saw "record expansion of the North American installed base".

In terms of debt, the company finished the year with a net leverage ratio of 3 times adjusted pre-tax income.

The company also repurchased $462 million of shares during the year. It has now bought back 15% of outstanding shares since March 2022, per the ASX 200 stock's announcement.

What did management say?

Matt Wilson, President and CEO of Light & Wonder, was positive on the company's financial performance last year.

We ended a strong 2024 with continued double-digit revenue and earnings growth for the year. The Gaming machine sales share gains in North America and Australia this year are a testament to our R&D investment, commercial strategy and robust product roadmap. Furthermore, we have also realigned studio needs, adding more talent and expanding existing studios.

Our recently announced strategic acquisition of Grover Gaming's charitable business enhances our cross-platform strategy and presence in regulated land-based markets, giving us a broader distribution base for our vast content library and accelerating our drive for sustainable future growth.

Meanwhile, CFO Oliver Chow added:

Our healthy financial foundation gives us flexibility to deploy capital where it best drives long-term value consistent with our capital deployment framework. We expect that the acquisition of Grover Gaming's charitable business will contribute to our expansive recurring revenue base and is complementary and synergistic to our high margin and cash generative business, enhancing our growth profile and cross-platform strategy.

What's next?

Management didn't provide exact guidance, but did give some colour on trading conditions in the new year.

It says that, based on "timing dynamics of Game Sales and high-return investmentopportunities", Light and Wonder projects "organic growth" in FY25.

Specifically, it expects its Q1 2025 pre-tax income growth to be in "the low double-digits" compared to last year.

ASX 200 gaming stock snapshot

After posting its FY24 results this morning, this ASX 200 gaming stock has caught a bid and is in the green.

Zooming out and looking more broadly, the stock is up nearly 13% in the past year, after a 20% gain this year to date.