Net income up 17pct for Light & Wonder in 3Q, Matthieu Labbat appointed CEO of SciPlay

Casino equipment and online games provider Light & Wonder Inc reported third-quarter net income that rose 16.7 percent year-on-year, to US$133 million. That was on revenue for the three months to September 30 that was down 2.0 percent, at US$824 million, the group said in a Wednesday announcement. The tally of new gaming machines sold in international markets, including Asia Pacific, jumped 17.0 percent year-on-year. Light & Wonder’s consolidated adjusted earnings before interest, taxation, depreciation, and amortisation (EBITDA) on a reportable business segment basis, stood at US$416 million in the third quarter, up 1.5 percent from a year earlier. The group has three main segments: land-based gaming; the social casino business SciPlay; and iGaming. Separately, Light & Wonder announced on Wednesday that Matthieu Labbat had been appointed chief executive of SciPlay, effective immediately. He most recently had served as senior vice president and head of Product Madness at rival casino provider Aristocrat Leisure Ltd, with profit-and-loss responsibility for the mobile gaming business. Matt Wilson, Light & Wonder’s president and chief executive, said in prepared remarks on the appointment: “Matthieu has a proven record of building and scaling mobile gaming businesses, paired with exceptional product vision and a talent for developing teams. That combination makes him the ideal leader for SciPlay as we seek to extend the reach of its portfolio of brands.” ‘Encouraged by the momentum’ Commenting on the third-quarter results, Mr Wilson noted that “gaming momentum” had continued for Light & Wonder, evidenced by its North American premium installed base “growing for the 25th consecutive quarter.” He added, referring to the Grover Charitable Gaming business acquired in May 2025: “Further, Grover continues to scale across both existing and new markets.” The group CEO also noted: “We’re encouraged by the momentum heading into the fourth quarter, with positive feedback from customers post trade shows, customer purchase intentions and recent industry data. Oliver Chow, the group’s chief financial officer was cited saying in the prepared comments: “Our recurring revenue base and margin discipline delivered strong cash generation, with year-to-date adjusted free cash flow of US$545 million, up 49 percent year-over-year and in line with our full-year 2025 level.” Third-quarter operating expenses fell 4.9 percent, to US$582 million. Gaming remained the group’s largest business in the July to September period, though revenue in the segment was down 0.7 percent year-on-year, to US$554 million. Revenue from gaming systems fell 23.6 percent year-on-year, to US$55 million. Nonetheless, revenue from gaming machine sales rose 5.3 percent, to US$199 million, and that from gaming operations increased 3.9 percent, to US$248 million. The latter reflected “installed base growth and higher average daily revenue per unit”. Globally, the company shipped 8,906 new gaming machine units in the third quarter, up 3.5 percent compared with 8,608 units a year earlier. The latest quarter included 3,207 units sold in international markets, including Asia Pacific, a jump of 17.0 percent compared with 2,587 units in the prior-year period. Light & Wonder said it expected full-year 2026 consolidated adjusted EBITDA growth “to be toward the lower end of our previously announced range of mid-to-high single digits” of percent. Principal face value of debt outstanding as of September was US$5.0 billion, translating to a net debt leverage ratio of 3.3 times, representing a 0.1 times reduction from June 30.