Results: Light & Wonder raises net income 16.7% in Q3 and names Matthieu Labbat at SciPlay

Light & Wonder Inc recorded net income of US$133 million in the third quarter, an increase of 16.7% year‑on‑year in the three months to 30 September, the company said on Wednesday. Revenue for the period fell 2.0% to US$824 million. At the same time, the group named Matthieu Labbat as chief executive of SciPlay, effective immediately. The company [reported the results](/news) alongside the appointment.

Key third-quarter results

The company reported consolidated adjusted EBITDA of US$383 million in the third quarter, up 2.1% from a year earlier. The total count of new gaming machines shipped in the quarter was 8,906, an increase of 3.5% versus 8,608 units in the same period of 2025.

The operating split shows the gaming segment remained the largest business in July–September, generating US$554 million in revenue, down 0.7% year on year. Within that segment:

• Gaming systems revenue: US$55 million, a decline of 23.6% year on year.

• Gaming machine sales: US$199 million, up 5.3%.

• Gaming operations: US$248 million, up 3.9%, reflecting growth in the installed base and higher average daily revenue per unit.

International shipments — including the Asia Pacific region — totalled 3,207 units in the quarter, a jump of 17.0% versus 2,587 units a year earlier. Overall new machine shipments grew globally, even as consolidated revenues declined.

Operating expenses for the third quarter fell 4.9% to US$582 million.

Appointment at SciPlay

Light & Wonder said Matthieu Labbat has been named chief executive of SciPlay with immediate effect. Labbat joins from Aristocrat Leisure Ltd, where he was senior vice president and head of Product Madness, with P&L responsibility for the mobile business. The corporate move is reported in the context of the group’s broader [B2B](/b2b) strategy.

"Matthieu has a proven record of building and scaling mobile gaming businesses, paired with exceptional product vision and a talent for developing teams. That combination makes him the ideal leader for SciPlay as we seek to extend the reach of its portfolio of brands," said Matt Wilson, chairman and chief executive of Light & Wonder, in prepared remarks.

Wilson added that the "gaming momentum" continued for Light & Wonder, with the premium installed base in North America "growing for the 25th consecutive quarter". He also referenced the May 2025 acquisition of Grover Charitable Gaming: "Further, Grover continues to scale across both existing and new markets."

Cash, debt and outlook

Oliver Chow, the group’s chief financial officer, said in prepared comments that the recurring revenue base and margin discipline produced strong cash flow, with year‑to‑date adjusted free cash flow of US$545 million, up 49% year on year and in line with the full‑year 2025 level.

Light & Wonder said it expects consolidated adjusted EBITDA growth for full‑year 2026 "to be toward the lower end of our previously announced range of mid‑to‑high single digits."

The principal face value of debt outstanding at September was US$5.0 billion, which translates to a net leverage ratio of 3.3x, a reduction of 0.1x since 30 June.