TLDR Light & Wonder posted second quarter revenue of $828 million, up 2% year over year, while net income rose 26% to $120 million. Gaming Operations revenue climbed 18% to $247 million, helped by the Grover charitable gaming business. SciPlay revenue fell 9% to $182 million as monthly active users dropped 12%. iGaming revenue grew 14% to $92 million, marking the company’s strongest performing segment by growth rate. Net debt leverage stood at 3.4 times, with the company aiming to reduce it below 3 times by early 2027.
Light & Wonder released its second quarter results this week, showing profit growth that outpaced revenue growth. The company’s revenue reached $828 million, up 2% from the same period last year.
Net income came in stronger. It rose 26% to $120 million for the quarter ending June 30.
Consolidated adjusted EBITDA climbed 9% to $383 million. The company’s adjusted EBITDA margin expanded by 200 basis points to 46%.
CEO Matt Wilson pointed to the company’s mix of businesses as a driver of the results. He said the company’s high margin, recurring revenue streams continued to perform well.
Gaming And iGaming Lead Growth
The Gaming segment remained the company’s largest business. Segment revenue rose 5% to $554 million during the quarter.
Within that segment, Gaming Operations revenue increased 18% to $247 million. The Grover charitable gaming business, acquired last year, contributed to that growth.
The company added 652 premium gaming units during the quarter. That marked the 24th straight quarter of premium installed base growth.
Gaming machine sales revenue fell 4% to $184 million. The company shipped 8,796 units globally, down from 9,039 units a year earlier.
Executives said the drop reflected timing. Several casino openings and expansions shifted from the second quarter into the second half of the year.