Highest-materiality recent filing
Light & Wonder reaffirms 2026 AEBITDA growth, targets $2B by 2028; $1.9B in buybacks
Chairman Jamie Odell highlights transformation: $1.9B share buyback repurchasing ~25% of outstanding shares since March 2022.
Revenue $790M (+2% YoY); Gaming operations revenue up 38% to $239M; machine sales down 25%.
Q4 revenue $891M (+12% YoY); net loss $15M ($0.19 loss per share) due to $128M Aristocrat legal settlement charge.
Light & Wonder amends credit agreement, adds $2.13B term loan due 2029, reduces interest margin
Amendment No. 4 creates a new $2,134,562,718.75 tranche of term loans maturing April 14, 2029.
Light & Wonder delists from Nasdaq, adopts ASX-aligned bylaws, moves to sole ASX listing
Common stock delisted from Nasdaq on Nov 13, 2025, following Form 25 filed Nov 3, 2025.
Light & Wonder Q3 net income +78% to $114M; AEBITDA +18% to $375M
Consolidated revenue $841M (+3% YoY); Net income $114M (up 78%); EPS $1.34 (up 89%).
Light & Wonder sets Nasdaq delisting effective Nov 13; sole ASX listing starts Nov 14
Form 25 filed Nov 3; last Nasdaq trade Nov 12; delisting effective before open Nov 13.
Light & Wonder closes $1B 6.250% senior notes due 2033; to redeem $700M 2028 notes
Issued $1B in 6.250% senior unsecured notes due 2033 at par; guaranteed by Light & Wonder and certain subsidiaries.
Light & Wonder subsidiary proposes $1B senior notes offering to refinance 2028 notes
Light and Wonder International proposes $1B senior unsecured notes due 2033; no coupon disclosed.
Light & Wonder subsidiary prices $1B of 6.250% senior notes due 2033
Subsidiary Light and Wonder International prices $1B of 6.250% senior unsecured notes due 2033 at 100%.
Light & Wonder Q2 net income +16%; plans Nasdaq delisting, sole ASX listing; boosts buyback
Revenue $809M (-1% YoY), net income $95M (+16%), Consolidated AEBITDA $352M (+7%).
Light & Wonder completes $850M acquisition of Grover Gaming, financed with $800M term loan
Acquired Grover Gaming charitable gaming business for $850M cash, plus up to $200M four-year earn-out.
Light & Wonder Q1 2025: Gaming rev $495M (+4% YoY), SciPlay rev $202M (-2% YoY), $166M buyback
Gaming segment revenue $495M (+4% YoY) with AEBITDA +9% and 200bps margin expansion; North American premium installed base grew for 19th consecutive quarter.
Record FY24 consolidated revenue $3.2B, +10% YoY; Gaming $2.1B (+12%), SciPlay $821M (+6%), iGaming $299M (+9%).
Light & Wonder to acquire Grover Gaming charitable assets for $850M cash, plus up to $200M earn-out
$850M upfront cash consideration; earn-out up to $200M over 4 years based on revenue/business expansion.
Light & Wonder ups revolving credit facility to $1.0B, extends maturity to 2030, reduces margins
Revolving commitments increased to $1.0B from $750M; maturity extended to Feb 10, 2030.
Light & Wonder Q3 revenue up 12% YoY; reaffirms FY2025 AEBITDA target of $1.4B
Consolidated revenue grew 12% YoY; Gaming rev $537M (+15%), SciPlay $206M (+5%), iGaming $74M (+6%).
Light & Wonder to remove ~2,200 Dragon Train units; reaffirms $1.4B 2025 AEBITDA target
Court order requires removal of Dragon Train; ~2,200 of 33,000 leased NA units affected.
Light & Wonder receives preliminary injunction on Dragon Train game; reaffirms 2025 $1.4B AEBITDA
U.S. District Court for Nevada grants Aristocrat preliminary injunction against L&W's Dragon Train game; L&W will appeal.
Light & Wonder Q2 revenue $818M (+12%), net income $82M vs $5M; new $1B buyback
Consolidated Q2 revenue $818M (+12% YoY); net income $82M vs $5M a year ago.
Light & Wonder refinances $2.16B in term loans, reduces margin to SOFR+2.25%
Created new $2,161,582,500 Term B-2 loan tranche due April 14, 2029, replacing existing Term B-1 loans.
Light & Wonder Board authorizes new $1B share buyback through June 2027
Prior $750M program exhausted; purchased 11.2M shares (11.5% of outstanding) at avg $66.72, a 28% discount to $92.35 close.
Light & Wonder Q1 revenue up 13% to $756M; all segments post double-digit growth
Gaming revenue $476M (+14% YoY) driven by 30% increase in global Gaming machine sales.
Light & Wonder Q4 revenue $770M (+13%), net income $67M; full year record $2.9B
Q4 revenue $770M (+13% YoY); full year revenue $2.9B (+16% YoY), both records.
Susan Dawson, the Company’s current Senior Vice President and Deputy General Counsel, will succeed Mr. Sottile and assume the role of CLO and Corporate Secretary upon his retirement.
On June 16, 2025, James Sottile notified Light & Wonder, Inc. (the “ Company ”) that he will retire from the Company, and that his last day of service as the Company’s Executive Vice President, Chief Legal Officer (“ CLO ”) and Corporate Secretary, will be December 31, 2025.
elected Michael Marchetti as a director of the Company to fill the resulting vacancy, each effective January 15, 2024.
Effective December 13, 2023, Light & Wonder, Inc. (the “Company”) appointed Oliver Chow as the Company’s Executive Vice President, Chief Financial Officer (“CFO”) and Treasurer.
Effective August 25, 2023, Light & Wonder, Inc. (the “Company”) has named Vanja Kalabic as its Chief Accounting Officer.
On August 23, 2023, the Compensation Committee of the Company’s Board of Directors approved the following compensation arrangements with Mr. Chow in connection with his appointment as the Company’s interim Chief Financial Officer, effective as of August 25, 2023
Effective as of the Transition Date, Oliver Chow, the Company’s current Senior Vice President of Corporate Finance, will assume the role of interim CFO and principal accounting officer
On June 27, 2023, Constance P. James notified Light & Wonder, Inc. (the “Company”) that she will resign as its Executive Vice President, Chief Financial Officer (“CFO”), Treasurer and Corporate Secretary and principal accounting officer, effective as of August 25, 2023
Ms. Siobhan Lane was appointed Executive Vice President and Group Chief Executive of Gaming, as of the Effective Date.
appointed Matthew Wilson the Company’s President and Chief Executive Officer
elected Mr. Wilson as a director of the Company
Effective as of the Transition Date, the Board has appointed Matt Wilson, Executive Vice President and Group Chief Executive of Gaming, to the additional role of interim President and Chief Executive Officer.
Max materiality 0.85 · Median 0.53 · Most common event other