Light & Wonder Q2 revenue rises on gaming operations
LNW•Outlook maintained
The company maintained its full-year 2026 outlook, expecting mid- to high-single digit AEBITDA growth.
Light & Wonder expects to reduce its net debt leverage ratio to below 3.0x in the first half of 2027.
What drove the quarter
- Gaming operations and Grover - Growth in gaming operations and Grover charitable gaming drove revenue gains, with Grover revenue up $24 million year over year on higher installed units.
- iGaming momentum - iGaming revenue rose 14% year over year, driven by first-party content and partner network expansion, despite higher U.K. gambling duties.
- Margin expansion - Margin improved across all business segments due to operational efficiencies and favorable revenue mix.
Q2 revenue and profit rose
Light & Wonder's second-quarter revenue rose 2% year over year, driven by gaming operations and iGaming.
Q2 net income increased 26% year over year; adjusted EPS was up 26%.
The company repurchased $134 million in shares during the quarter.
Key details and analyst coverage
| Metric | Actual |
|---|---|
| Q2 Adjusted EBITDA |
