Light & Wonder's third-quarter 2026 underlying EBITDA lifted 2% on last year to USD 312 million, mostly driven by strong performance in gaming machines. The company now expects full-year 2026 EBITDA growth toward the bottom of its prior mid- to high-single-digit guidance range.
Stringent regulatory licensing requirements create barriers to entry for new players, protecting the market share of Light & Wonder and other incumbents.
Regulatory tightening of land-based gaming, particularly in Australia, may dampen demand for Light & Wonder’s electronic gaming machines.
Metric | LNW | ALL | DKNG |
|---|---|---|---|
Price/Earnings (Normalized) | 12.09 | 25.60 | 48.41 |
Price/Book Value | 15.17 | 6.91 | 52.37 |
Price/Sales | 1.98 | 6.63 | 1.46 |
Price/Cash Flow | 7.80 | 21.38 | 52.70 |
Metric | LNW | ALL | DKNG |
|---|---|---|---|
Quick Ratio | 1.10 | 1.24 | 0.63 |
Current Ratio | 1.69 | 1.60 | 0.99 |
Interest Coverage | 2.15 | 16.02 | −11.69 |
Metric | LNW | ALL | DKNG |
|---|---|---|---|
Return on Assets (Normalized) | 9.31% | — | −3.16% |
Return on Equity (Normalized) | 148.70% | — | −26.00% |
Return on Invested Capital (Normalized) | 15.41% | — | −4.71% |
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