Light & Wonder Reports Higher Q3 Revenue
Light & Wonder delivered a stronger financial performance in the third quarter of 2025, with improved profit metrics and stable growth across key business areas. The company highlighted margin expansion supported by both gaming operations and digital products.
Revenue and Segment Results
Light & Wonder generated approximately €780 million in revenue during the quarter, reflecting around 3% year-on-year growth. Net income rose sharply to about €106 million, while earnings per diluted share increased to roughly €1.24. Adjusted NPATA reached €142 million, representing a double-digit improvement on the previous year. The core Gaming division contributed around €518 million, benefiting from higher participation revenue and a larger premium installed base in North America.
The iGaming division produced roughly €80 million in revenue, continuing to set new profitability benchmarks as more operators adopt the company’s online titles. Social gaming arm SciPlay reported around €183 million, slightly below last year, though key monetisation indicators such as average revenue per daily active user improved. Overall cash generation remained strong, allowing the business to keep a disciplined investment approach. Growth was supported by ongoing demand across retail and digital channels, reinforcing the company’s multi-platform strategy.
Balance Sheet Moves and Strategic Direction
The company returned close to €103 million to shareholders through stock buybacks during the quarter while continuing to optimise its capital structure. A new debt issue maturing in 2033 enabled the retirement of shorter-term borrowings, contributing to reduced interest expenses over time. Light & Wonder’s leverage remained within its targeted range, reflecting a stable financial position. Management reaffirmed full-year expectations, including continued EBITDA and profit growth through the end of 2025.
Another major focus has been transitioning to a primary listing on the Australian Securities Exchange, with the majority of shareholders already aligned with the move. The company expects the listing shift to simplify its presence in public markets. Work continues on expanding content distribution and strengthening product pipelines to maintain competitiveness in regulated global markets. Light & Wonder has signaled confidence in its operational resilience as the gaming industry evolves.