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Light & Wonder, Inc. director Hamish McLennan reported an open-market sale of 6,000 CHESS Depositary Interests, each representing one share of common stock, at $90.36 per share. After this sale, he directly holds 25,782 common shares. He also has indirect ownership of 6,380 shares through a superannuation fund and 9,750 shares through a family trust, both of which hold common stock on his behalf.
LNW submitted a Form 144 notifying a proposed sale of 1,591 common shares through Fidelity Brokerage Services LLC.
The filing lists the broker Fidelity Brokerage Services LLC, an OTC indicator and the filing date 02/26/2026. It also shows two prior restricted stock vesting entries: 639 shares vested on 03/20/2024 and 952 shares vested on 10/01/2024.
Light & Wonder, Inc. reported solid fourth-quarter and full-year 2025 results, combining strong operating performance with sizable one-time charges. Q4 revenue rose 12% to $891 million, led by 17% growth in Gaming revenue and record North American gaming machine shipments of 7,000 units.
The company posted a Q4 net loss of $15 million, or $0.19 per diluted share, driven by $177 million of restructuring and other costs, including a $128 million legal settlement, a $25 million contingent consideration adjustment, and ASX transition costs. Despite this, Q4 Consolidated AEBITDA grew 29% to $405 million and Adjusted NPATA rose 27% to $161 million, or $1.96 per diluted share.
For 2025, revenue reached $3.314 billion, up 4%, while net income declined to $276 million, or $3.26 per diluted share, largely due to $219 million of restructuring and related items. Full-year Consolidated AEBITDA increased 16% to $1.443 billion and Adjusted NPATA climbed 18% to $567 million, or $6.69 per diluted share, in line with previously provided outlook ranges.
Cash generation was strong: net cash from operating activities grew to $794 million and free cash flow to $452 million, both meaningfully higher than 2024. The company returned $877 million to shareholders in 2025 through repurchasing 10.1 million shares or CDIs, and has cumulatively bought back 24.4 million since 2022. Principal face value of debt stood at $5.207 billion with a net debt leverage ratio of 3.5x, or 3.4x on a combined basis including Grover, within the stated 2.5x–3.5x target range.
Light & Wonder, Inc. received a Form 4 filing from investment entities affiliated with Fine Capital regarding sales of common stock. On January 27, 2026, these reporting persons sold 2,225, 2,426, and 4,386 shares of common stock in three separate transactions.
The weighted average sale prices were $112.2933, $113.2784, and $113.9387, respectively. After the final transaction, the reporting persons had an indirect pecuniary interest in 8,151,955 shares. The filing explains this interest is held through investments in private funds, and each reporting person disclaims beneficial ownership beyond their pecuniary interest.
Light & Wonder, Inc. amended its main credit facility through Amendment No. 4, creating a new tranche of $2,134,562,718.75 term loans under its Credit Agreement that will mature on April 14, 2029 and replace the existing term loans. The amendment also lowers the interest margins to 2.00% per annum over term benchmark rates such as SOFR, EURIBOR and BBSY, and to 1.00% per annum over ABR. These changes update the pricing and structure of the company’s secured term debt without increasing the stated principal amount. The amendment is documented in Amendment No. 4, dated January 22, 2026, with JPMorgan Chase Bank, N.A. acting as administrative and collateral agent and as issuing and swingline lender.
Fine Capital Partners, L.P., Fine Capital Advisors, LLC and related reporting persons disclosed open-market sales of Light & Wonder, Inc. common stock in mid‑January 2026. Across transactions on January 19–21, 2026, private funds in which they hold a pecuniary interest sold a combined 30,501 shares at weighted average prices ranging from about $115.01 to $121.35 per share. Following these sales, the filing shows 8,166,686 shares of Light & Wonder common stock indirectly beneficially owned through private funds. The reporting persons state that this amount reflects only their pecuniary interest via these funds and they disclaim beneficial ownership beyond that interest.
BlackRock, Inc. filed an amended ownership report showing a relatively small, passive stake in Light & Wonder, Inc. BlackRock reports beneficial ownership of 699,360 shares of Class A stock, representing 0.9% of the outstanding class as of the event date. It has sole voting power over 666,842 shares and sole dispositive power over 699,360 shares, with no shared voting or dispositive power.
The filing notes that various underlying clients or funds have the right to receive dividends or sale proceeds from these shares, but no single person has more than five percent of Light & Wonder’s total outstanding common shares. BlackRock certifies that the shares are held in the ordinary course of business and not for the purpose of changing or influencing control of the company.
Fine Capital Partners, L.P. and related entities reported indirect sales of a total of 15,000 shares of Light & Wonder, Inc. common stock on January 9, 2026. The filing lists one sale of 14,188 shares at a weighted average price of $103.4532 per share and a second sale of 812 shares at a weighted average price of $103.9993 per share. After these transactions, the reporting persons had an indirect pecuniary interest in 8,197,187 shares of common stock held through private investment funds. The reporting persons state that their interest reflects only their pecuniary stake in these funds and disclaim beneficial ownership beyond that interest.
Light & Wonder, Inc. director reporting persons disclosed multiple sales of common stock on 12/29/2025. The transactions, all marked with code "S" for sale, involved blocks of 2,932, 5,940, 11,065 and 63 shares at weighted average prices of approximately $101.972, $102.9429, $103.8941 and $104.4428 per share.
The filing states that these prices reflect weighted averages for trades executed within specified ranges from $101.73 up to $104.16, and that full trade details are available upon request. After the reported transactions, the reporting persons indirectly held 8,212,187 shares of Light & Wonder common stock through investments in private funds and expressly disclaim beneficial ownership beyond their pecuniary interest.