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How Light & Wonder (LAWIL) makes money
Light & Wonder (LAWIL) made $824M of revenue in the third quarter 2026 (Q3 2026), -2% from a year earlier. Gaming brought in $554M (67%); SciPlay brought in $173M (21%); iGaming brought in $97.0M (12%). Of every dollar of revenue, 29¢ was left as operating profit, 16¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Gaming | $554M | 67.2% | — | -0.7% |
| SciPlay | $173M | 21.0% | — | -12% |
| iGaming | $97.0M | 11.8% | — | +13% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $824M | 100.0% |
| Operating profit | $242M | 29.4% |
| Income tax | $34.0M | 4.1% |
| Net earnings | $133M | 16.1% |
| Operating cash flow | $236M | 28.6% |
| Free cash flow | $181M | 22.0% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $824M | -2% |
| Q2 2026 | $828M | +2% |
| Q1 2026 | $790M | +2% |
| Q4 2025 | $890M | +12% |
| Q3 2025 | $841M | +3% |
| Q2 2025 | $809M | -1% |
| Q1 2025 | $774M | +2% |
From Light & Wonder's 10-Q filed Nov 4, 2026 (on EDGAR).
Questions
How does Light & Wonder make money?
Light & Wonder (LAWIL) made $824M of revenue in the third quarter 2026 (Q3 2026), -2% from a year earlier. Gaming brought in $554M (67%); SciPlay brought in $173M (21%); iGaming brought in $97.0M (12%). Of every dollar of revenue, 29¢ was left as operating profit, 16¢ was left as net earnings.
What is Light & Wonder's biggest business?
Gaming: $554M in the third quarter 2026, 67% of revenue, -0.7% from a year earlier.
What is Light & Wonder's profit margin?
Net earnings were $133M, 16.1% of revenue, in the third quarter 2026; the operating margin was 29.4%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.