Light & Wonder has released its financial results for Q3 2026, revealing a 2 percent fall in total revenue to $824 million, compared to $841 million during the same period in 2025.
Despite the slight revenue contraction, driven by softness in the Gaming and SciPlay segments, the company successfully delivered higher earnings and profit, bolstered by disciplined cost controls and robust double-digit growth within its iGaming division. Consolidated Adjusted EBITDA advanced 2 percent year-on-year to reach $383 million.
Commenting on the results and the company’s strategic trajectory, CEO and President Matt Wilson expressed strong confidence heading into the fourth quarter and fiscal year 2027:
“Our content-centric operating model is enhancing our recurring revenue business, as evidenced in the results. Sustained investment in studios and content is driving strong franchise performance across the portfolio, which builds our confidence heading into the fourth quarter and 2027. Gaming momentum continues, evidenced by our North American premium installed base growing for the 25th consecutive quarter. Further, Grover continues to scale across both existing and new markets.”
Segment performance: iGaming surges while Gaming and SciPlay adjust
Breaking down divisional results, iGaming stood out as a primary growth engine, with revenue surging 13 percent year-on-year to $97 million. This expansion was propelled by sustained momentum in North America, supported by proprietary content and an expanding partner network. Meanwhile, Gaming revenue edged down 1 percent to $554 million; while gaming operations benefited from a 3 percent increase in the North American installed base and a 5 percent rise in machine sales, gaming systems revenue fell 24 percent on lower hardware sales, and table products dipped 7 percent due to the timing of global utility sales.
The SciPlay segment reported revenue 24 percent lower at $173 million, reflecting ongoing softness across the social casino free-to-play market. Amid this transition, Light & Wonder announced the appointment of Matthieu Labbat as the new CEO of SciPlay. Labbat brings over seven years of executive experience from Product Madness, Aristocrat’s mobile division, alongside prior leadership roles at King, stepping into the role following Josh Wilson’s departure.
Bottom-line profitability and full-year outlook
Rigorous financial discipline saw operating costs decrease by 5 percent to $582 million across all core areas, driving operating profit up 6 percent to $242 million. After accounting for financial expenses and taxes, net profit climbed 17 percent year-on-year to $133 million. For the nine-month period ending September 30, 2026, cumulative revenue stood at $2.44 billion, with net profit up 5 percent to $305 million and consolidated AEBITDA rising 5 percent to $1.09 billion.
Looking ahead, Light & Wonder expects full-year 2026 consolidated AEBITDA growth to land toward the lower end of its mid-to-high single-digit guidance range, reflecting broader social casino headwinds and customer capital expenditure delays. Nonetheless, the company remains fully on track to reduce its net debt leverage ratio toward 3.0x by year-end.
