Light & Wonder Increases Q2 Net Income by 26%
United States.- 6 August 2026 | www.zonadeazar.com Light & Wonder generated consolidated revenue of USD 828 million during the second quarter of 2026, representing year-on-year growth of 2%.
Net income increased by 26% to USD 120 million, while consolidated adjusted EBITDA rose by 9% to USD 383 million.
News Details
Diluted earnings per share reached USD 1.53, compared with USD 1.11 during the corresponding period of 2025.
The adjusted EBITDA margin improved by two percentage points to 46%. Adjusted free cash flow increased by 50% to USD 156 million.
Operating activities generated USD 241 million in cash, more than double the USD 106 million recorded one year earlier.
Industry Context
The Gaming segment generated revenue of USD 554 million, an increase of 5% year-on-year.
Within the division, Gaming Operations revenue grew by 18% to USD 247 million. Grover Charitable Gaming contributed USD 45 million and ended the quarter with more than 12,550 installed units.
Gaming machine sales declined by 4% to USD 184 million following the deferral of certain shipments into the second half of the year. Gaming Systems revenue fell by 16% to USD 61 million, while Table Products increased by 13% to USD 62 million.
The iGaming business recorded revenue growth of 14% to USD 92 million. Wagers processed through the Open Gaming System reached a quarterly record of USD 31.3 billion, compared with USD 26.6 billion during the same period of the previous year.
SciPlay was the only segment to contract. Revenue declined by 9% to USD 182 million, reflecting softer social casino activity and fewer average monthly paying users at JACKPOT PARTY Casino.
Statements
Oliver Chow, Chief Financial Officer at Light & Wonder, said:
“Going forward, our focus will be to pare back share repurchases and rapidly deleverage our balance sheet to below 3.0 times net debt leverage as we progress towards an investment-grade leverage profile.”
Next Steps or Impact
Principal debt stood at USD 5.2 billion at the end of June, while net debt reached USD 5 billion. The company’s net debt leverage ratio declined from 3.5 to 3.4 times.
Light & Wonder spent USD 134 million repurchasing approximately 1.6 million securities during the quarter. However, the company intends to reduce future buybacks and prioritise debt reduction.
The company maintained its full-year 2026 guidance for mid- to high-single-digit growth in consolidated adjusted EBITDA.
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