Light & Wonder Posts 2% Q1 Revenue Growth Driven by iGaming

(AsiaGameHub) –   Light & Wonder recorded Q1 2026 revenue of $790 million, marking a 2% increase compared to the same period last year. Strong performances in iGaming and gaming operations helped counterbalance weaker sales of gaming machines and ongoing challenges in the social casino segment.

Net income for the quarter decreased by 37%, amounting to $52 million, primarily due to a $50 million legal reserve provision related to legacy legal matters involving compensation to Aristocrat. Diluted earnings per share dropped by 30%, settling at $0.66.

The net income decline in Q4 was also 37%, or approximately $52 million, mainly driven by an additional $50 million in legal reserve accruals stemming from historical legal disputes concerning payments to Aristocrat’s predecessor.
Diluted EPS fell by 30%, reaching $0.66.

Adjusted EBITDA rose by 5%, totaling $327 million, while the EBITDA margin improved to 41%, up from 40% in the prior-year period.

Gaming revenues grew by 3%, reaching $512 million, fueled by a 38% increase in gaming operations revenue to $239 million and a 24% rise in table products revenue to $63 million.

The iGaming division emerged as the company’s fastest-growing segment, with revenue climbing 18% to $91 million and adjusted EBITDA increasing by 22% to $33 million. The division’s EBITDA margin expanded to 36%.

In contrast, SciPlay revenues declined by 7%, or $187 million, largely due to reduced player engagement in JACKPOT PARTY casino games. Despite this, EBITDA grew by 3%, totaling $66 million, primarily attributed to gains in Direct-to-Consumer revenue.

President and CEO Matt Wilson stated that the quarter represented “the start of the next phase of the Company’s growth trajectory,” underpinned by its content strategy and recurring revenue model.

As of quarter-end, the company held total debt of $5.14 billion and maintained a net debt leverage ratio of 3.5x. Light & Wonder forecasts mid-to-high-single-digit adjusted EBITDA growth for the full year 2026.