Gambling Commission: Q2 GGY up 7% to £4.3bn as player behaviour remains stable
The figures offer a key insight into behavioural trends in the licensed UK gambling market.
The figures offer a key insight into behavioural trends in the licensed UK gambling market.
Adjusted EBITDA rose to HK$14.5bn (US$1.85bn) for the year as the operator expanded its entertainment portfolio.
Despite also reporting a 7% increase in FY2025 revenue to just over $2.9bn, Churchill Downs also witnessed a net income decrease during the full-year period, falling 10.3% to $383m.
The company’s net income for the fourth quarter of 2025 fell 1.6% to $604.8m, however, while adjusted funds from operations (AFFO) totaled $642.5m during the period and increased 6.8%.
This approach supports the creation of a holding company structure, separating the investment and corporate functions from the day-to-day operations of the gambling business.
Online gambling was a significant contributor to market growth, with online casinos recording double-digit year-on-year increases.
These latest results have seen revenue rise by 1% year-on-year, paired with an EBITDA rise of 14.3%.
The Group maintained stable dividends and strengthened its leadership bench.
The supplier’s Q4 2025 net revenue increased 12% to $891m, while net income during FY2025 fell 18% to $276m, primarily driven by Light & Wonder’s $128m legal matter settlement charge.
The main contributor to the total turnover were slot machines, generating €2bn ($2.36bn).