Light & Wonder reports 3% Q3 revenue rise for 2025

Light & Wonder reported a 3% year-on-year increase in total Q3 revenue, reaching $841 million, with strong performances in both its iGaming and land-based businesses.

iGaming revenue surged 16% to $86 million, while revenue from the company’s land-based gaming division grew 4% to $558 million. Within this segment, gaming operations revenue jumped 38%, supported by a 9% rise in gaming installations across North America.

Table products revenue was also up 6%, partly offset by a 21% decline in gaming machine sales, which the company attributed to the timing of game sales.

Matt Wilson, President and Chief Executive Officer of Light & Wonder, said:

“Our R&D engine continues to deliver world-class content, reflected in another strong quarter for gaming operations and record iGaming performance. We are reinvesting in the business to drive long-term sustained growth, as evidenced by the number and quality of new games and hardware showcased at this year’s G2E. Additionally, we are thrilled to report that the integration of Grover Gaming into our omni-channel strategy is progressing well. The team is fully prepared to participate in the opening of the Indiana charitable gaming market, expected in the coming months.”

SciPlay posted a 4% decrease in revenue to $197 million, though its direct-to-consumer segment expanded to account for 20% of total SciPlay revenue. Meanwhile, Grover Gaming, acquired by Light & Wonder in February 2025, contributed $40 million to the company’s Q3 results.

Adjusted EBITDA increased 18% to $375 million, and net income rose 78% to $114 million.