Light & Wonder posts Q3 2026 revenue of $824M; iGaming +13%, SciPlay -12%

Light & Wonder reported third-quarter 2026 revenue of $824 million, a 2% decline from $841 million a year earlier, in results published on 4 November 2026. The company said net income rose 17% to $133 million and consolidated adjusted EBITDA increased 2% to $383 million.

Results by line and explanation of full-year guidance

The company kept its full-year outlook for consolidated adjusted EBITDA “toward the lower end of our previously announced mid-to-high single-digit range.” Light & Wonder attributes that guidance to weakness in the social casino market and some customer investment and capital expenditure timing shifts, partially offset by recurring-revenue growth and an expectation of a seasonally strong fourth quarter.

"We're encouraged by the momentum heading into the fourth quarter, with positive feedback from customers post trade shows, customer purchase intentions and recent industry data," said Matt Wilson, CEO of Light & Wonder.

Segment breakdown

Gaming: Gaming segment revenue fell 1% to $554 million. Within that segment:

• Gaming operations, which include Grover charitable gaming, grew 3% to $248 million.

• Machine sales rose 5% to $199 million.

• Gaming systems revenue declined 24% to $55 million.

Light & Wonder noted its premium installed base in North America continued to grow for the 25th consecutive quarter, with an addition of 2,657 units year-on-year.

iGaming: the iGaming business rose 13% to $97 million, driven by North American momentum, owned content and partner network growth. The company's iGaming platform processed a quarterly record of $31.7 billion in wagers.

SciPlay: the social-casino unit SciPlay, where users play free-to-play with in-app purchases, reported revenue of $173 million, a 12% decline the company attributes to continued softness in the free-to-play social-casino market. Direct-to-consumer revenue was $53 million, equal to 31% of SciPlay revenue, and paying monthly average users fell to 426,000 from 514,000 a year earlier.

RG said it tracks iGaming peer results such as Evolution and Rush Street Interactive.

Balance sheet and capital decisions

During the quarter the company reduced the principal face amount of its debt by $153 million, leaving it at $5.0 billion. Light & Wonder did not execute repurchases under its repurchase program during the period.

The company also debuted its cashless system RapidPlay at a Nevada casino during the quarter, an activity management cited by management when discussing recent commercial momentum.

Management comments and operational context

Management linked the guidance and results to two main forces: continued weakness in the social-casino market and one-off delays in customer investments and CAPEX. At the same time, it highlighted the contribution of recurring revenue and the expectation of a seasonally strong fourth quarter to support the year's progression.

Matt Wilson reiterated commercial confidence after recent trade shows and cited customers' stated purchase intentions. The company did not include new share buybacks in the quarter and prioritized reducing debt principal.

Key data summarized

• Total revenue: $824 million, -2% year-on-year (vs $841M prior year).

• Net income: $133 million, +17%.

• Consolidated adjusted EBITDA: $383 million, +2%.

• Gaming: $554 million, -1%.

• Gaming operations (includes Grover): $248 million, +3%.

• Machine sales: $199 million, +5%.

• Gaming systems: $55 million, -24%.

• iGaming: $97 million, +13%; $31.7 billion in wagers processed.

• SciPlay: $173 million, -12%; DTC $53 million (31% of SciPlay); AMPU 426,000 (prior 514,000).

• Premium installed base North America: +2,657 units; 25th consecutive quarter of growth.

• Principal debt reduced by $153 million to $5.0 billion.

• No buybacks were executed in the quarter.

• Debut of the cashless system RapidPlay in Nevada.

Readers tracking product and technology implications will find this results report touches multiple fronts: owned-content performance in iGaming, secular pressure on free-to-play affecting SciPlay, and the progression of cashless deployments in physical casinos.

For additional coverage on suppliers and technology see our section [b2b](/b2b) and for regulatory announcements related to cashless products review [regulation](/regulation).