Australian slot manufacturer Light & Wonder had what it called “a solid start to 2026,” with revenue ticking up two percent to AU$790 million on a tough comparison.
Profits, however, fell 37 percent to AU$52 million. This was said to be reflective of a litigation settlement with Aristocrat Leisure. The settlement also impinged on cash provided by operations, which narrowed to AU$139 million.
Cash flow, though, widened five percent, reaching AU$327 million. Divisionally, gaming revenue was up three percent, reaching $512 million. It was propelled by a 38 percent increase in operational revenue and a 24 percent uplift from table products, which provided AU$63 million.
On the other hand, machine-sale revenues slumped 25 percent. But the average price per unit remained consistent at AU$19,700.
Sequentially, Light & Wonder grew its base in North America by 650 units, plus another 600 from subsidiary Grover Gaming. An additional 5,000 units were shipped to the United States and Canada during the first quarter.
Igaming revenue jumped 18 percent, although revenue for the SciPlay division “remain challenged amid a mature social-casino market,” according to the company. First-party content was credited with the igaming potency.
“We are seeing the benefits of our continued investment in studios and content, as our franchises drive strong game performance across the portfolio,” said CEO Matt Wilson in a prepared statement. “Gaming momentum remained robust, with our North American premium installed base growing for the 23rd consecutive quarter, and Grover continued its expansion into the recently legalized Indiana [charitable] market.”
Added CFO Oliver Chow, “We make deliberate investments in AI and infrastructure that we believe will compound meaningfully over time to support both growth and efficiency.” He also announced sped-up share repurchases in the second quarter of 2026, “creating sustainable long-term shareholder value.”
Light & Wonder ended the quarter with AU$5.2 billion in debt, or 3.5 times cash flow. That included a AU$137 million litigation-settlement reserve.
