Gaming growth helped partially compensate for funds set aside for legal reserves.
Australia.- The ASX-listed gambling provider Light & Wonder has reported US$790m in revenue for the first quarter of 2026, a rise of 2 per cent year-on-year. Adjusted EBITDA rose 5 per cent to US$327m but net income declined 37 per cent to US$52m after the company set aside about US$50m for legal reserves, including part of a US$128m settlement linked to a dispute with Aristocrat Leisure Ltd.
Gaming revenue rose 3 per cent to US$512m during the quarter, driven mainly by gaming operations revenue, which climbed 38 per cent to US$239m. Revenue from table products increased 24 per cent to US$63m.
Gaming machine sales revenue declined 25 per cent due largely to the timing of video lottery terminal shipments in North America and international markets compared with the prior-year period. Average selling price per unit remained around US$19,700.
In the igaming segment, revenue increased 18 per cent while EBITDA rose 22 per cent, supported by growth in the United States. SciPlay revenue remained under pressure amid what the company described as a mature social casino market, although direct-to-consumer revenue and active users improved sequentially.
Chief financial officer Oliver Chow said the group remained focused on investing in growth opportunities, lowering debt levels and returning capital to shareholders through share repurchases.
According to the May 6 filing, 25 per cent of total outstanding shares have been repurchased since the launch of the company’s buyback programme. Light & Wonder said it expects to continue reducing leverage through 2026, targeting a net debt leverage ratio below 3.0x during the first half of 2027.
Gaming growth helped partially compensate for funds set aside for legal reserves. Australia.- The ASX-listed gambling provider Light & Wonder has reported US$790m in revenue for the first quarter of 2026, a rise of 2 per cent year-on-year. Adjusted EBITDA rose 5 per cent to US$327m but net income declined 37 per cent to US$52m…
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