Q4 2025 Light & Wonder Inc Earnings Call Transcript
Key Points
- Light & Wonder Inc (LNWO) completed the acquisition of Grover Charitable Gaming, enhancing growth opportunities.
- The company achieved its 2025 consolidated AEBITDA and adjusted MPADA target ranges, demonstrating strong execution.
- Recurring revenue reached $2.2 billion, with margin and cash flow expansion evident throughout the year.
- LNWO repurchased $877 million worth of shares, completing 78% of its second share repurchase program.
- iGaming revenue reached a record $94 million, up 21% year over year, driven by strong momentum in North America.
- Siteplay revenue experienced a modest decline, partially offsetting growth in other areas.
- The company reported a net loss of $15 million in the fourth quarter due to settlement and restructuring charges.
- The UK tax increase to 40% is expected to adversely impact the iGaming business starting in the second quarter of 2026.
- Interest expense increased by $13 million due to higher debt levels associated with the Grover acquisition.
- The company faces challenges in stabilizing engagement and retention rates for its jackpot party game.
Good day and thank you for standing by.
Welcome to the light and Wonder fourth quarter in full year 2025 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press 11 on your telephone. You will then hear an automated message advising that your hand is raised. To withdraw your question, please press 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Rowan Gallagher. You may begin.
Thank you operator, and welcome everyone to our fourth quarter and full year 2025 earnings conference call.
Joining me today in Las Vegas are Matt Wilson, our President and CEO, and Oliver Chow, our CFO.
During today's call, we will discuss our 4th quarter and full year results and operating
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
