Light & Wonder SEC Filings

Light & Wonder, Inc. reported the results of its annual stockholder meeting held on June 10, 2026. Stockholders elected all nominated directors, including Jamie R. Odell, Matthew R. Wilson and others, each receiving between about 45.6 million and 51.9 million votes in favor with broker non-votes recorded.

Stockholders approved, on an advisory basis, the compensation of the company’s named executive officers with 48,053,880 votes for and 3,941,357 against. They also approved 2026 long-term incentive equity grants to the director-CEO under ASX Listing Rule 10.14 and approved the aggregate annual non-employee director compensation limit under ASX Listing Rule 10.17.

Finally, stockholders ratified the appointment of Deloitte & Touche LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026, with 50,325,283 votes for, 3,530,235 against and 163,174 abstentions.

Light & Wonder, Inc. furnished the script for its 2026 annual meeting, highlighting a five‑year transformation, balance sheet repair, portfolio reshaping and a shift to a sole primary ASX listing. The company has returned about $1.9 billion to stockholders since March 2022, repurchasing roughly 25% of shares outstanding prior to the buyback program.

The script describes a net debt leverage ratio target range of 2.5x–3.5x, after leverage had previously peaked at 10.5x. For 2026, management is forecasting mid‑to‑high single‑digit consolidated AEBITDA growth, with expectations of “meaningful” growth in adjusted NPATA and adjusted earnings per share.

Longer term, Light & Wonder reiterates 2028 targets from its Q1 FY26 earnings presentation, including consolidated AEBITDA of $2 billion and EPSa of over $10.55, which it notes would be nearly double the 2024 base. The script emphasizes that these are forward‑looking, non‑GAAP measures and refers stockholders to the Q1 FY26 materials for reconciliations and further detail.

Light & Wonder, Inc. furnished the script for its 2026 annual meeting, highlighting a five‑year transformation, balance sheet repair, portfolio reshaping and a shift to a sole primary ASX listing. The company has returned about $1.9 billion to stockholders since March 2022, repurchasing roughly 25% of shares outstanding prior to the buyback program.

The script describes a net debt leverage ratio target range of 2.5x–3.5x, after leverage had previously peaked at 10.5x. For 2026, management is forecasting mid‑to‑high single‑digit consolidated AEBITDA growth, with expectations of “meaningful” growth in adjusted NPATA and adjusted earnings per share.

Longer term, Light & Wonder reiterates 2028 targets from its Q1 FY26 earnings presentation, including consolidated AEBITDA of $2 billion and EPSa of over $10.55, which it notes would be nearly double the 2024 base. The script emphasizes that these are forward‑looking, non‑GAAP measures and refers stockholders to the Q1 FY26 materials for reconciliations and further detail.

Light & Wonder, Inc. reported that SVP & CEO - Gaming Siobhan Lane received a grant of 12,073 restricted stock units. These RSUs cliff vest on March 4, 2029 only if a performance goal is achieved; otherwise they are forfeited. Each unit will convert into one share of common stock upon vesting, and Lane now holds 12,073 such units directly.

Light & Wonder, Inc. reported that SVP & CEO - Gaming Siobhan Lane received a grant of 12,073 restricted stock units. These RSUs cliff vest on March 4, 2029 only if a performance goal is achieved; otherwise they are forfeited. Each unit will convert into one share of common stock upon vesting, and Lane now holds 12,073 such units directly.

Light & Wonder, Inc. reported that President & CEO Matthew R. Wilson received a grant of 30,182 restricted stock units as equity compensation. These RSUs cliff vest on March 4, 2029 only if a specified performance goal is achieved; otherwise they are forfeited. Each vested unit will convert into one share of common stock, and this grant represents his reported direct holdings of these RSUs following the transaction.

Light & Wonder, Inc. reported that President & CEO Matthew R. Wilson received a grant of 30,182 restricted stock units as equity compensation. These RSUs cliff vest on March 4, 2029 only if a specified performance goal is achieved; otherwise they are forfeited. Each vested unit will convert into one share of common stock, and this grant represents his reported direct holdings of these RSUs following the transaction.

Light & Wonder, Inc. executive Oliver Chow, EVP, CFO & Treasurer, received a grant of 12,073 restricted stock units. These RSUs are scheduled to cliff vest on March 4, 2029, only if a specified performance goal is achieved; otherwise they are forfeited. Each unit will convert into one share of common stock upon vesting.

Light & Wonder, Inc. executive Oliver Chow, EVP, CFO & Treasurer, received a grant of 12,073 restricted stock units. These RSUs are scheduled to cliff vest on March 4, 2029, only if a specified performance goal is achieved; otherwise they are forfeited. Each unit will convert into one share of common stock upon vesting.

Light & Wonder, Inc. reported Q1 2026 revenue of $790 million, up 2% from $774 million a year earlier, as strong Gaming and iGaming growth offset weaker SciPlay performance. Gaming revenue rose 3%, helped by higher participation revenue and the Grover charitable gaming acquisition, while iGaming grew 18% on North American momentum. SciPlay revenue fell 7% due to fewer paying users at JACKPOT PARTY Casino, partly offset by higher spend per payer.

Despite higher revenue, net income fell to $52 million from $82 million, as operating income declined 24%. The drop was driven by a $50 million legal reserve, higher depreciation and amortization tied to installed base and Grover assets, and increased salaries and professional fees. Interest expense also rose with higher debt levels, though income tax expense declined with lower worldwide earnings.

The company generated $139 million of operating cash flow, down from $185 million, and invested $74 million in capital expenditures. Cash, cash equivalents and restricted cash ended the quarter at $253 million. Total debt had a book value of $5.14 billion, including term loans, a $210 million revolver draw and unsecured notes maturing between 2029 and 2033. Stockholders’ equity was $311 million, reflecting share repurchases, treasury stock retirement and retained earnings.

Light & Wonder, Inc. reported Q1 2026 revenue of $790 million, up 2% from $774 million a year earlier, as strong Gaming and iGaming growth offset weaker SciPlay performance. Gaming revenue rose 3%, helped by higher participation revenue and the Grover charitable gaming acquisition, while iGaming grew 18% on North American momentum. SciPlay revenue fell 7% due to fewer paying users at JACKPOT PARTY Casino, partly offset by higher spend per payer.

Despite higher revenue, net income fell to $52 million from $82 million, as operating income declined 24%. The drop was driven by a $50 million legal reserve, higher depreciation and amortization tied to installed base and Grover assets, and increased salaries and professional fees. Interest expense also rose with higher debt levels, though income tax expense declined with lower worldwide earnings.

The company generated $139 million of operating cash flow, down from $185 million, and invested $74 million in capital expenditures. Cash, cash equivalents and restricted cash ended the quarter at $253 million. Total debt had a book value of $5.14 billion, including term loans, a $210 million revolver draw and unsecured notes maturing between 2029 and 2033. Stockholders’ equity was $311 million, reflecting share repurchases, treasury stock retirement and retained earnings.

Light & Wonder, Inc. reported first quarter 2026 results with revenue of $790 million, up 2% from $774 million a year earlier, led by Gaming and iGaming growth. Net income was $52 million, or $0.66 diluted EPS, down from $82 million, mainly due to about $50 million of legacy legal reserve contingencies and higher interest expense.

Consolidated AEBITDA rose 5% to $327 million with margin improving to 41%. Adjusted NPATA was $115 million, and Adjusted NPATA per diluted share increased to $1.45. Adjusted Free cash flow climbed to $207 million, an 86% increase, while net cash from operating activities declined to $139 million, reflecting $137 million of litigation settlement payments.

Gaming revenue grew 3% to $512 million, SciPlay revenue declined 7% to $187 million, and iGaming revenue increased 18% to $91 million. The company ended March 31, 2026 with $5.14 billion of total debt, cash of $147 million, and a net debt leverage ratio of 3.5x. Management reaffirmed a 2026 outlook for mid- to high-single digit full-year Consolidated AEBITDA growth and continues to target reducing net debt leverage below 3.0x during the first half of 2027.

Light & Wonder, Inc. reported first quarter 2026 results with revenue of $790 million, up 2% from $774 million a year earlier, led by Gaming and iGaming growth. Net income was $52 million, or $0.66 diluted EPS, down from $82 million, mainly due to about $50 million of legacy legal reserve contingencies and higher interest expense.

Consolidated AEBITDA rose 5% to $327 million with margin improving to 41%. Adjusted NPATA was $115 million, and Adjusted NPATA per diluted share increased to $1.45. Adjusted Free cash flow climbed to $207 million, an 86% increase, while net cash from operating activities declined to $139 million, reflecting $137 million of litigation settlement payments.

Gaming revenue grew 3% to $512 million, SciPlay revenue declined 7% to $187 million, and iGaming revenue increased 18% to $91 million. The company ended March 31, 2026 with $5.14 billion of total debt, cash of $147 million, and a net debt leverage ratio of 3.5x. Management reaffirmed a 2026 outlook for mid- to high-single digit full-year Consolidated AEBITDA growth and continues to target reducing net debt leverage below 3.0x during the first half of 2027.

Light & Wonder, Inc. had its initial insider holdings reported on a Form 3 by Fine Capital Partners, L.P., Fine Capital Advisors, LLC and Debra Fine as ten-percent owners. The filing shows indirect beneficial ownership of 7,848,992 shares of common stock through private funds, plus 13,000 shares held directly by Debra Fine for her personal account. The reporting parties state that Fine Capital Partners is investment manager to the private funds, Fine Capital Advisors is general partner of Fine Capital Partners, and Debra Fine manages Fine Capital Advisors, and each disclaims beneficial ownership beyond its or her pecuniary interest.

Light & Wonder, Inc. had its initial insider holdings reported on a Form 3 by Fine Capital Partners, L.P., Fine Capital Advisors, LLC and Debra Fine as ten-percent owners. The filing shows indirect beneficial ownership of 7,848,992 shares of common stock through private funds, plus 13,000 shares held directly by Debra Fine for her personal account. The reporting parties state that Fine Capital Partners is investment manager to the private funds, Fine Capital Advisors is general partner of Fine Capital Partners, and Debra Fine manages Fine Capital Advisors, and each disclaims beneficial ownership beyond its or her pecuniary interest.

Light & Wonder, Inc. had an affiliated investment group led by Fine Capital Partners, L.P., a 10% owner, report recent activity in its common stock. Private funds it manages sold 80,000 shares in the open market at a weighted average price of $82.4428 per share, leaving 7,768,992 shares held indirectly afterward.

The group then made an additional in‑kind distribution of 102,200 shares from those private funds to certain investors for no cash consideration, reducing indirect holdings to 7,666,792 shares. Separately, 13,000 shares are owned directly by Debra Fine for her personal account, and are not held by the Fine Capital entities. The reporting parties state they may be deemed beneficial owners only to the extent of their pecuniary interest.

Light & Wonder, Inc. had an affiliated investment group led by Fine Capital Partners, L.P., a 10% owner, report recent activity in its common stock. Private funds it manages sold 80,000 shares in the open market at a weighted average price of $82.4428 per share, leaving 7,768,992 shares held indirectly afterward.

The group then made an additional in‑kind distribution of 102,200 shares from those private funds to certain investors for no cash consideration, reducing indirect holdings to 7,666,792 shares. Separately, 13,000 shares are owned directly by Debra Fine for her personal account, and are not held by the Fine Capital entities. The reporting parties state they may be deemed beneficial owners only to the extent of their pecuniary interest.

Vanguard Capital Management reported beneficial ownership of 4,566,853 shares of Light & Wonder Inc. common stock, representing 5.69% of the class as of 03/31/2026. The filing states Vanguard has sole voting power for 2,334,257 shares and sole dispositive power for 4,566,853 shares.

Vanguard Capital Management reported beneficial ownership of 4,566,853 shares of Light & Wonder Inc. common stock, representing 5.69% of the class as of 03/31/2026. The filing states Vanguard has sole voting power for 2,334,257 shares and sole dispositive power for 4,566,853 shares.