A surge of positive financial results is sweeping through the gaming industry, and Light & Wonder is at the forefront. The company recently announced its Q3 2025 earnings, revealing a remarkable 78% leap in net income – a clear indicator of thriving performance.
Consolidated revenue climbed to $841 million, a solid 3% increase, demonstrating consistent growth across the board. This success is fueled by strategic expansion within the North American market, a key area of focus for the company.
Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (AEBITDA) experienced an impressive 18% jump, reaching $375 million. Net Profit After Tax and Amortisation (NPATA) also saw substantial gains, rising by 25% to $153 million.
The company’s gaming segment proved resilient, with revenue increasing by 4%. However, it was gaming operations that truly shone, boasting a significant 38% growth rate. Online gambling also contributed to the positive trend, with revenue up 16%.
Leadership highlighted the ongoing transition to a primary listing on the Australian Securities Exchange, a move already underway since 2022. This strategic shift aims to streamline the listing structure for shareholders and elevate the company’s profile within the Australian gaming market.
Investment in research and development continues to yield impressive results, delivering cutting-edge content that resonates with players. This commitment is evident in the strong performance of both gaming operations and the record-breaking results in the iGaming sector.
The integration of Grover Gaming is progressing smoothly, poised to capitalize on the upcoming opening of the Indiana charitable gaming market. This expansion represents a significant opportunity for growth and market penetration.
Strong cash flow generation allowed for the return of $111 million to shareholders through share repurchases, demonstrating a commitment to shareholder value. Simultaneously, the company has benefited from reduced debt interest rates, further strengthening its financial position.
Despite the recent decision to delist from the US NASDAQ exchange, Light & Wonder continues to aggressively expand its presence within the United States. This seemingly paradoxical move underscores the company’s confidence in the American market and its ability to thrive independently.
However, the company is currently navigating a legal challenge concerning the mathematical models used in its popular Hold & Spin slot game. This ongoing case represents a potential hurdle, but one the company appears prepared to address.
