Light & Wonder SEC Filings

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.

Light & Wonder, Inc. is asking stockholders to vote at a fully virtual annual meeting on June 10, 2026 on five key items: electing nine directors, an advisory say-on-pay, 2026 equity grants for the director-CEO, a non-employee director fee pool, and auditor ratification.

The company had 78,661,761 common shares outstanding as of April 13, 2026, each with one vote. It proposes granting up to 37,644 RSUs to CEO Matthew Wilson for 2026 and setting a maximum annual non-employee director cash and equity compensation pool of $4.5 million. Deloitte & Touche LLP is nominated as independent auditor for 2026.

The proxy highlights 2025 results of $3.3 billion in revenue, $276 million in net income and $1.44 billion in Consolidated AEBITDA, plus $877 million of share or CDI repurchases in 2025 and $1.9 billion cumulatively since March 2022. Annual bonuses for executives paid at 73.1% of target, while long-term PSU vesting reached 100% of target.

Light & Wonder, Inc. is asking stockholders to vote at a fully virtual annual meeting on June 10, 2026 on five key items: electing nine directors, an advisory say-on-pay, 2026 equity grants for the director-CEO, a non-employee director fee pool, and auditor ratification.

The company had 78,661,761 common shares outstanding as of April 13, 2026, each with one vote. It proposes granting up to 37,644 RSUs to CEO Matthew Wilson for 2026 and setting a maximum annual non-employee director cash and equity compensation pool of $4.5 million. Deloitte & Touche LLP is nominated as independent auditor for 2026.

The proxy highlights 2025 results of $3.3 billion in revenue, $276 million in net income and $1.44 billion in Consolidated AEBITDA, plus $877 million of share or CDI repurchases in 2025 and $1.9 billion cumulatively since March 2022. Annual bonuses for executives paid at 73.1% of target, while long-term PSU vesting reached 100% of target.

Light & Wonder, Inc. is soliciting proxies for its annual meeting to be held virtually on June 10, 2026, to elect nine directors, hold an advisory vote on named executive officer compensation, approve long-term equity grants to CEO Matthew Wilson, set a $4.5 million annual non-employee director fee pool under ASX Listing Rule 10.17, and ratify Deloitte & Touche LLP as auditor. The record date was April 13, 2026 and 78,661,761 shares were outstanding as of that date. The proxy materials include disclosures related to the Company’s transition to a sole primary listing on the Australian Securities Exchange.

Light & Wonder, Inc. reported routine equity compensation activity for President & CEO Matthew R. Wilson as restricted stock units vested and converted into common stock. On March 20, 2026 he acquired 51,978 shares of common stock through the exercise or conversion of restricted stock units, each on a one-for-one basis.

To satisfy tax withholding obligations on these vestings, 20,454 shares of common stock were disposed of at a price of $78.61 per share, with the shares delivered rather than sold in the open market. Following these transactions, Wilson directly owned 198,272 shares of common stock, which are held via CHESS Depositary Interests on the Australian Securities Exchange, with each CDI representing one fully paid share.

Light & Wonder, Inc. reported routine equity compensation activity for President & CEO Matthew R. Wilson as restricted stock units vested and converted into common stock. On March 20, 2026 he acquired 51,978 shares of common stock through the exercise or conversion of restricted stock units, each on a one-for-one basis.

To satisfy tax withholding obligations on these vestings, 20,454 shares of common stock were disposed of at a price of $78.61 per share, with the shares delivered rather than sold in the open market. Following these transactions, Wilson directly owned 198,272 shares of common stock, which are held via CHESS Depositary Interests on the Australian Securities Exchange, with each CDI representing one fully paid share.