Light & Wonder posts mixed third-quarter performance
Light & Wonder reported third-quarter 2026 revenue of $824 million, down 2% from $841 million in the same period last year. Net income increased 17% to $133 million, while consolidated adjusted EBITDA rose 2% to $383 million.
The results show different trends across the company’s business lines. Growth in iGaming and gaming operations was offset by weaker performance in some systems and social-casino activities.
iGaming revenue rises to $97 million
iGaming revenue increased 13% year on year to $97 million. The company also processed a quarterly record $31.7 billion in wagers through its platform, highlighting the scale of activity handled by its digital business.
SciPlay revenue declined 12% to $173 million. Light & Wonder attributed the pressure to continued softness in the social casino free-to-play segment; average monthly paying users fell to 426,000 from 514,000.
Full-year outlook points to the lower end of guidance
Light & Wonder said it expects full-year consolidated adjusted EBITDA growth towards the lower end of its previously announced mid-to-high single-digit range. The company cited weakness in social casino and delays in some customer investment timing, partly offset by recurring revenue growth and an expected seasonally strong fourth quarter.
The company also reported $236 million in net cash from operating activities and $181 million in adjusted free cash flow for the quarter.