Light & Wonder reported third-quarter iGaming revenue of $97 million, up 13% year on year, marking another consecutive quarter of double-digit growth. Adjusted EBITDA for the segment increased 9% to $37 million, while wagers processed through its Open Gaming System reached a quarterly record of $31.7 billion.
Group performance
Consolidated revenue was $824 million, down 2%, while net income rose 17% to $133 million and consolidated adjusted EBITDA increased 2% to $383 million. Growth in iGaming and gaming operations was partly offset by a 12% decline in SciPlay revenue, which the company attributed to continued softness in the social-casino free-to-play market.
Content and partner network
Light & Wonder attributed iGaming growth to North American momentum, wider distribution of first-party content and expansion of its partner network. The company also continued to prioritise debt reduction, reporting a net-debt leverage ratio of 3.3x at quarter-end. For operators and affiliates, the results reinforce the commercial importance of differentiated content and supplier distribution scale.