Macquarie analysts are forecasting that Light & Wonder will achieve Adjusted EBITDA of US$1.94 billion by 2028, falling just short of the company’s recently declared US$2 billion EBITDA target — but with room for growth following the recent acquisition of Grover Gaming.
Light & Wonder’s new US$2 billion EBITDA target for 2028 was unveiled during a recent investor day, with the company stating at the time that reaching this goal relies on achieving 400 basis points of market share gains in the North American premium installed base and global game sales. Light & Wonder explained that it plans to expand its gaming market share through optimized business operations; leverage its hardware and content into the charitable gaming segment following the acquisition of Grover Gaming; utilize the SciPlay engine across existing games; and focus resources on high-margin content in iGaming.
