Light & Wonder iGaming Revenue Rises 13% as New Titles Drive Growth
United States.- 6 November 2026 | www.zonadeazar.com Light & Wonder reported a 13% year-on-year increase in iGaming revenue during the third quarter of 2026, supported by the performance of its proprietary games and the continued expansion of its OpenGaming platform.
The company highlighted that growth is no longer dependent solely on its established Huff N’ Puff franchise, with a broader range of titles contributing to performance.
CEO Matt Wilson discussed the results during the company’s earnings call for the quarter ended 30 September.
iGaming Revenue Reaches $97 Million
The iGaming division generated $97 million in revenue, an increase of 13% compared with the corresponding period in 2025.
Key indicators included:
- iGaming revenue: $97 million, up 13%.
- Segment adjusted EBITDA: $37 million, an increase of 9%.
- Adjusted EBITDA margin: 38%.
- Wagers processed through OpenGaming: a record $31.7 billion.
Growth was primarily supported by North American operations and the expansion of the company’s operator partner network.
Seven Consecutive Quarters of Growth
Light & Wonder reported seven consecutive quarters of sequential growth in gross gaming revenue (GGR) generated by its proprietary titles on OpenGaming.
Furthermore, eight of the ten leading games on the platform during the third quarter were developed by the company.
These results demonstrate the increasing importance of its internal studios in generating successful gaming content.
The company believes continued investment in game development is strengthening its recurring revenue business.
Growth Extends Beyond Huff N’ Puff
Although Huff N’ Puff remains an important franchise, Light & Wonder highlighted the strong performance of its newer games.
Proprietary titles outside the franchise recorded 46% growth over the previous twelve months.
Wilson explained that the results demonstrate broader strength across the portfolio and reduce commercial dependence on a single game franchise.
The company aims to maintain this momentum through new releases and further development of its proprietary content.
Desert Knights Ranks Among Leading Games
One example highlighted by Wilson was Desert Knights, the first title in the Ultimate Fire Link Triple Nova series.
The game launched with FanDuel and reached third place among the leading titles on OpenGaming.
The company also highlighted the performance of Langley Street, developed by ELK Studios, which has made a strong start following its addition to the platform.
These launches demonstrate the contribution of both proprietary games and third-party content.
OpenGaming Processes Record $31.7 Billion
The OpenGaming System (OGS) processed $31.7 billion in wagers during the third quarter, representing a 13% year-on-year increase.
The figure established a new quarterly record for the company’s gaming aggregation and distribution platform.
OpenGaming allows operators to integrate content from multiple studios through a centralised technology infrastructure.
Its continued growth represents a central element of Light & Wonder’s digital strategy.
Expansion Across the United States and Canada
The company is preparing additional launches in North America.
Key priorities include:
- Florida: introducing its first game in the state before the end of 2026.
- Alberta: expanding operations following the regulated market’s opening in July.
- Canada: pursuing opportunities in other provinces considering the legalisation of iGaming.
Wilson highlighted that Light & Wonder’s technology model enables games to be developed once and subsequently distributed across multiple regulated markets.
This approach supports international expansion without requiring entirely new portfolios for each jurisdiction.
UK and Brazil Present Challenges
Despite iGaming growth, Light & Wonder identified regulatory difficulties in certain international markets.
In the United Kingdom, increases in gambling taxation are creating additional pressure for industry businesses.
In Brazil, the company suspended all its gaming content following the Government’s prohibition of online gambling.
These developments could affect international performance, although the company remains confident in its digital growth strategy.
Group Financial Performance
During the third quarter, Light & Wonder reported:
- Total revenue: $824 million, down 2% year-on-year.
- Net profit: $133 million, an increase of 17%.
- Consolidated adjusted EBITDA: $383 million, up 2%.
The decline in overall revenue was linked to weaker performance in gaming systems and social casino operations.
Nevertheless, iGaming maintained double-digit growth and continued to represent an important expansion driver for the company.
Industry Impact and Next Steps
The results highlight the importance of diversifying game portfolios and strengthening technology distribution platforms.
Light & Wonder aims to combine proprietary franchise development with third-party content and expansion into additional regulated markets.
With iGaming revenue of $97 million, seven consecutive quarters of growth in proprietary games and a record $31.7 billion processed through OpenGaming, Light & Wonder is consolidating its digital strategy beyond Huff N’ Puff.
The company will continue focusing on new releases and expansion opportunities throughout the final quarter of 2026 and into 2027.
Edited by: @fonta
