Light & Wonder net income falls 37% to $52m despite 2% revenue growth for Q1
The supplier’s consolidated AEBITDA for Q1 2026 increased 5% to $327m, mainly driven by gaming AEBITDA which accounted for $271m and rose 7% from the prior year period.
The supplier’s consolidated AEBITDA for Q1 2026 increased 5% to $327m, mainly driven by gaming AEBITDA which accounted for $271m and rose 7% from the prior year period.
The operator’s adjusted EBITDA managed to rise 2% for a total of $631m, while FanDuel revenue increased 6% to nearly $1.8bn, despite handle falling 9% to $13.4bn.
The $172.2m generated during April is the most recorded through the first 10 months of fiscal year 2026, led by MGM National Harbor which increased revenue 7.8% to just over $73.9m.
E-wallet delinking and softer consumer sentiment weigh on earnings, though balance sheet remains strong.
The operator also generated a quarterly record for adjusted EBITDA, which increased 8.6% to nearly $53.8m, as well as 0.3% net income growth for a total of $14.7m.
Strong table volumes drive continued momentum in foreigners-only gaming operations.
The Kentucky Derby set a new record in all-sources handle after the figure increased 3% to $487m for Derby Week 2026, while TwinSpires set an all-time high with $129m in wagers.
If passed, Senate File 4511 would prohibit any prediction market offerings tied to sports, casino-style gambling, people, elections, catastrophes and death in Minnesota.
Mobile sports betting revenue accounted for the vast majority of total revenue across the state, having increased 25.8% from the prior year period to just over $59.8m.
Kangwon Land reported modest revenue growth in Q1 2026, supported by gaming performance, but profitability declined due to higher costs and reduced financial gains.