Light & Wonder Inc
NASDAQ:LNW

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Light & Wonder Inc
NASDAQ:LNW
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Price: 99.5 USD -1.68% Market Closed
Market Cap: 8.1B USD

Light & Wonder Inc
Investor Relations

In the ever-evolving landscape of the gaming and entertainment industry, Light & Wonder Inc. shines as a versatile player renowned for its comprehensive suite of products and services. This company, formerly known as Scientific Games Corporation, provides a blend of digital and physical gaming solutions. Light & Wonder has carved a significant niche by capitalizing on its experience in creating engaging and immersive gaming experiences. By bridging traditional gaming with digital, the company appeals to a broad demographic, satisfying both the classic casino-goer with slot machines and table games, and the tech-savvy gamer seeking online and mobile platforms.

Revenue streams for Light & Wonder are as diversified as their product offerings. From selling gaming machines and leasing them to casinos, to delivering state-of-the-art systems that underpin the operational infrastructure of gaming floors, the company has positioned itself as a vital partner to gaming venues worldwide. Simultaneously, its digital arm benefits from licensing agreements, supplying content-rich experiences to interactive platforms that reach global audiences. By integrating high-tech solutions with compelling game design, Light & Wonder not only adapts to the shifting tides of the gaming industry but also drives growth through innovation and strategic acquisitions, enhancing their footprint in this dynamic market.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 5, 2025
AI Summary
Q3 2025

Revenue Growth: Light & Wonder reported Q3 revenue of $841 million, up 3% year-over-year, driven by strong gaming operations and iGaming performance.

Profitability: EBITDA reached $375 million, growing 18% year-over-year, with record margin expansion across all business segments.

Recurring Revenue: Recurring revenue rose 14% year-over-year and now accounts for about 69% of total revenue, providing greater earnings predictability.

EPSA and Net Income: Adjusted NPATA per share (EPSA) increased 35% year-over-year to $1.81, while diluted net income per share jumped 89% to $1.34.

iGaming Strength: iGaming delivered record revenue of $86 million, up 16% year-over-year, and EBITDA rose 42%, reflecting strong first-party content and platform growth.

Grover Integration: Grover contributed over $40 million in revenue and saw a sequential increase of 229 units, with further growth expected as Indiana market launch is prepared for early 2026.

Capital Returns: $111 million in share repurchases were made in the quarter, with a total of $1.5 billion returned to shareholders since 2022.

Guidance Reiterated: Management reiterated full-year 2025 guidance for EBITDA and adjusted NPATA, citing strong recurring revenue momentum and line of sight to double-digit growth for the year.

Key Financials
Revenue
$841 million
EBITDA
$375 million
Net Income
not specified
Adjusted NPATA
not specified
Adjusted NPATA Per Share (EPSA)
$1.81
Net Income Per Share, Diluted
$1.34
Recurring Revenue
69% of consolidated revenue
Gaming Operations Revenue
$241 million
Grover Revenue
over $40 million
North American Installed Base Units
47,240 units
Grover Installed Base
11,250 units
Free Cash Flow
$136 million
Operating Cash Flow
$184 million
iGaming Revenue
$86 million
iGaming EBITDA
$34 million
Share Repurchases
$111 million
Cash Conversion Rate (EBITDA basis)
36%
Cash Conversion Rate (Adjusted M&A basis)
89%
Net Debt Leverage Ratio
3.3x
Effective Tax Rate
21% to 24%
R&D and CapEx Allocation
17% of revenue
Earnings Call Recording
Other Earnings Calls

Management

Mr. Jamie Ronald Odell M.B.A.
Executive Chairman
No Bio Available
Mr. Matthew R. Wilson
CEO, President & Director
No Bio Available
Ms. Antonia Korsanos BEC, C.A.
Executive Vice Chair
No Bio Available
Mr. Oliver Chow
Executive VP, CFO & Treasurer
No Bio Available
Mr. James Sottile
Executive VP, Chief Legal Officer & Corporate Secretary
No Bio Available
Ms. Siobhan Lane
Executive VP & Group Chief Executive of Gaming
No Bio Available
Mr. Vanja Kalabic
Senior VP & Chief Accounting Officer
No Bio Available
Mr. Nick Zangari
Senior Vice President of Investor Relations
No Bio Available
Mr. Stephen E. Richardson
Senior VP, Chief Compliance Officer & Director of Corporate Security
No Bio Available
Mr. Robert J. Parente
Executive VP & Chief Business Development Officer
No Bio Available

Contacts

Address
NEVADA
Las Vegas
6601 Bermuda Rd
Contacts