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Light & Wonder, Inc. operates as a cross-platform games company in the United States and internationally. It operates through three segments: Gaming, SciPlay, and iGaming segments. The Gaming segment sells game content and gaming machine; video gaming terminals and video lottery terminals, including conversion kits and spare parts. This segment also leases or provides gaming content, gaming machines, and server-based system; electronic pull-tabs and related services to charitable gaming entities; sells and supports casino-management system based software and hardware; licenses proprietary table games content; and supplies Shufflers and other table product utilities to commercial, tribal, and governmental gaming operators. The SciPlay segment develops, markets, and operates a portfolio of social games on various online platforms. The iGaming segment provides a suite of digital gaming content, distribution platforms, player account management systems, and other iGaming content and services. This segment also offers the Open Platform System, which offers a range of reporting and administrative functions and tools providing operators full control over various areas of digital gaming operations. It also supplies, maintains, and sells table game products, including automatic card shufflers, deck checkers, table roulette chip sorters and other land-based table gaming equipment; and sells virtual coins, chips, or bingo cards, which players can use to play casino-style slot games, table games, and bingo games. Light & Wonder, Inc. was incorporated in 1984 and is headquartered in Las Vegas, Nevada.
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Light & Wonder Inc provides gaming content, systems and services for casinos and online operators, spanning slot machines, management systems and iGaming platforms. Long-term growth may be supported by expansion of online gambling, replacement cycles on gaming floors and recurring software and services revenue as operators modernize.
Principal risks include regulatory and legal changes across jurisdictions, intense competition from existing and new suppliers, and sensitivity to consumer spending and casino capital expenditure cycles.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | 365.00M | 421.00M | 205.00M | -163.00M | -294.00M |
| Minority interest | 0.00M | 0.00M | -17.00M | -22.00M | -19.00M |
| Net income | 276.00M | 336.00M | 163.00M | 3675.00M | 371.00M |
| Selling general administrative | 869.00M | 872.00M | 808.00M | 717.00M | 679.00M |
| Gross profit | 2429.00M | 2257.00M | 2030.00M | 1774.00M | 1544.00M |
| Reconciled depreciation | 406.00M | 361.00M | 384.00M | 420.00M | 398.00M |
| Operating income | 902.00M | 762.00M | 610.00M | 419.00M | 277.00M |
| Interest expense | 314.00M | 293.00M | 309.00M | 327.00M | 478.00M |
| Tax provision | 89.00M | 85.00M | 25.00M | 13.00M | -318.00M |
| Net interest income | -319.00M | -295.00M | -324.00M | -474.00M | -478.00M |
| Total revenue | 3314.00M | 3188.00M | 2902.00M | 2512.00M | 2153.00M |
| Total operating expenses | 2412.00M | 2426.00M | 2292.00M | 2093.00M | 1876.00M |
| Cost of revenue | 885.00M | 931.00M | 872.00M | 738.00M | 609.00M |
| Total other income expense net | -218.00M | -46.00M | -81.00M | -108.00M | -93.00M |
| Net income from continuing ops | 276.00M | 336.00M | 180.00M | -176.00M | 24.00M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 6462.00M | 5421.00M | 5552.00M | 6009.00M | 7883.00M |
| Intangible assets | 999.00M | 615.00M | 763.00M | 942.00M | 1063.00M |
| Other current assets | 164.00M | 134.00M | 113.00M | 117.00M | 88.00M |
| Total liab | 6217.00M | 4785.00M | 4787.00M | 4848.00M | 9989.00M |
| Total stockholder equity | 245.00M | 636.00M | 765.00M | 990.00M | -2256.00M |
| Other current liab | - | - | - | - | 282.00M |
| Capital stock | 1.00M | 1.00M | 1.00M | 1.00M | 1.00M |
| Retained earnings | 1292.00M | 1016.00M | 680.00M | 517.00M | -3158.00M |
| Good will | 3371.00M | 2890.00M | 2945.00M | 2919.00M | 2892.00M |
| Cash | 167.00M | 196.00M | 425.00M | 914.00M | 585.00M |
| Total current liabilities | 803.00M | 735.00M | 696.00M | 622.00M | 974.00M |
| Net debt | 4996.00M | 3674.00M | 3449.00M | 2980.00M | 8105.00M |
| Short long term debt | 53.00M | 23.00M | 22.00M | 24.00M | 44.00M |
| Total current assets | 1283.00M | 1183.00M | 1311.00M | 1694.00M | 1732.00M |
| Net receivables | 689.00M | 585.00M | 506.00M | 455.00M | 423.00M |
| Long term debt | 5110.00M | 3847.00M | 3852.00M | 3870.00M | 8646.00M |
| Inventory | 169.00M | 158.00M | 177.00M | 161.00M | 98.00M |
| Accounts payable | 189.00M | 216.00M | 241.00M | 154.00M | 204.00M |
| Non currrent assets other | 68.00M | 77.00M | 66.00M | 73.00M | 1566.00M |
| Non current assets total | 5179.00M | 4238.00M | 4241.00M | 4315.00M | 6151.00M |
| Capital lease obligations | 47.00M | 47.00M | 58.00M | 54.00M | 56.00M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | 0.00M | -258.00M | -251.00M | 6116.00M | -442.00M |
| Net borrowings | 1298.00M | - | - | - | - |
| Total cash from financing activities | 321.00M | -577.00M | -788.00M | -5460.00M | -655.00M |
| Net income | 276.00M | 336.00M | 163.00M | 3675.00M | 371.00M |
| Change in cash | -46.00M | -209.00M | -446.00M | 266.00M | -442.00M |
| Begin period cash flow | 312.00M | 521.00M | 967.00M | 701.00M | 1143.00M |
| End period cash flow | 266.00M | 312.00M | 521.00M | 967.00M | 701.00M |
| Total cash from operating activities | 794.00M | 632.00M | 590.00M | -381.00M | 685.00M |
| Issuance of capital stock | - | - | - | - | 0.00M |
| Depreciation | 406.00M | 361.00M | 384.00M | 420.00M | 398.00M |
| Change to inventory | -19.00M | 2.00M | -29.00M | -65.00M | 9.00M |
| Sale purchase of stock | -880.00M | -462.00M | -193.00M | -442.00M | 0.00M |
| Capital expenditures | 310.00M | 294.00M | 242.00M | 216.00M | 171.00M |
| Change in working capital | -62.00M | -76.00M | -82.00M | -863.00M | 143.00M |
| Stock based compensation | 121.00M | 110.00M | 118.00M | 69.00M | 113.00M |
| Other non cash items | 35.00M | 5.00M | 41.00M | -3691.00M | -343.00M |
| Free cash flow | 484.00M | 338.00M | 348.00M | -597.00M | 514.00M |
Sector: Consumer Cyclical Industry: Gambling
|
Stock Name
|
Change
(AUD) |
Price
(AUD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| LNW Light & Wonder Inc |
-4.58 3.78% |
116.46 | 24.29 | 9.54 | 2.64 | 20.88 | 3.46 | 10.36 |
| ALL Aristocrat Leisure Ltd |
-0.19 0.29% |
65.86 | 27.87 | 23.87 | 6.22 | 6.23 | 6.31 | 13.26 |
| TLC The Lottery Corporation Ltd |
-0.01 0.18% |
5.49 | 42.31 | 34.60 | 3.42 | 45.93 | 3.95 | 21.22 |
| TAH Tabcorp Holdings Ltd |
-0.01 0.54% |
0.92 | 46.00 | 24.10 | 0.80 | 1.65 | 0.99 | 6.53 |
| AGI Ainsworth Game Technology Ltd |
0.10 8.40% |
1.29 | - | 17.01 | 1.70 | 1.23 | 1.83 | 7.84 |
Light & Wonder, Inc. operates as a cross-platform games company in the United States and internationally. It operates through three segments: Gaming, SciPlay, and iGaming segments. The Gaming segment sells game content and gaming machine; video gaming terminals and video lottery terminals, including conversion kits and spare parts. This segment also leases or provides gaming content, gaming machines, and server-based system; electronic pull-tabs and related services to charitable gaming entities; sells and supports casino-management system based software and hardware; licenses proprietary table games content; and supplies Shufflers and other table product utilities to commercial, tribal, and governmental gaming operators. The SciPlay segment develops, markets, and operates a portfolio of social games on various online platforms. The iGaming segment provides a suite of digital gaming content, distribution platforms, player account management systems, and other iGaming content and services. This segment also offers the Open Platform System, which offers a range of reporting and administrative functions and tools providing operators full control over various areas of digital gaming operations. It also supplies, maintains, and sells table game products, including automatic card shufflers, deck checkers, table roulette chip sorters and other land-based table gaming equipment; and sells virtual coins, chips, or bingo cards, which players can use to play casino-style slot games, table games, and bingo games. Light & Wonder, Inc. was incorporated in 1984 and is headquartered in Las Vegas, Nevada.
| Name | Title | Year Born |
|---|---|---|
| Mr. Jamie Ronald Odell M.B.A. | Executive Chairman | 1959 |
| Mr. Matthew R. Wilson | CEO, President & Director | 1982 |
| Ms. Antonia Korsanos BEC, C.A. | Executive Vice Chair | 1969 |
| Mr. James Sottile | Executive VP & Chief Legal Officer | 1961 |
| Ms. Siobhan Lane | Executive VP & Group Chief Executive of Gaming | 1982 |
| Mr. Oliver Chow | Executive VP, CFO & Treasurer | NA |
| Mr. Vanja Kalabic | Chief Accounting Officer | 1982 |
| Mr. Nick Zangari | Senior Vice President of Investor Relations | NA |
| Mr. Stephen E. Richardson | Senior VP, Chief Compliance Officer & Director of Corporate Security | 1968 |
| Mr. Steven Stamstad | Senior Vice President of Marketing & Communications | NA |
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