Light & Wonder Q3 Profit Rises 17% Despite Revenue Decline

Light & Wonder reported a 17% increase in third-quarter net income to US$133 million, supported by growth in its Gaming and iGaming businesses. However, weaker Gaming systems and social casino performance contributed to a 2% decline in group revenue to US$824 million. Adjusted NPATA rose 7% to US$163 million, while Consolidated Adjusted EBITDA increased 2% to US$383 million. Net cash from operating activities reached US$236 million, up 28% year-on-year. President and CEO Matt Wilson said: “Our content-centric operating model is enhancing our recurring revenue business, as evidenced in the results.