Light & Wonder, Inc. (LNW)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Light & Wonder, Inc. (LNW) trades at $99.75 with AI Score 52/100 (Grade B). Light & Wonder, Inc. is a global leader in the gaming industry, providing technology-based products, services, and content. Market cap: $8.43B, Sector: Consumer cyclical.
Price live · AI analysis from May 31, 2026LNW stock analysis for 2026: Analysts have set a consensus price target of $116.00 for Light & Wonder, Inc., suggesting 16.3% upside from the current price of $99.75. The AI MoonshotScore is 52/100, indicating a neutral outlook. Key factors: analyst coverage, AI-driven quantitative scoring.
LNW: 3/7 perspectives are bullish. Dominant signal: Jim Simons bullish.
How is this calculated? →Light & Wonder, Inc. (LNW) Consumer Business Overview
Light & Wonder, Inc. (LNW) is a diversified global gaming company providing a range of products and services across gaming machines, digital gaming, and social gaming. With a focus on innovation and content creation, LNW serves the gaming, lottery, and interactive entertainment industries, positioning itself in a competitive consumer cyclical sector.
What Is the Investment Thesis for LNW?
Light & Wonder, Inc. presents a compelling investment case based on its diversified revenue streams and strategic positioning within the gaming industry. With a market capitalization of $8.43B and a P/E ratio of 26.7, the company demonstrates solid financial performance. A key value driver is the company's strong gross margin of 67.4%, indicating efficient cost management and premium product offerings. Growth catalysts include the expansion of its iGaming segment and the continued development of innovative gaming content. However, potential risks include the highly competitive nature of the gaming industry and regulatory changes. Investors may want to evaluate the company's beta of 1.41, which suggests higher volatility compared to the market.
Based on FMP financials and quantitative analysis
LNW Key Highlights
- Market capitalization of $8.43B reflects substantial investor confidence in Light & Wonder's market position.
- P/E ratio of 26.7 indicates a reasonable valuation relative to earnings.
- Profit margin of 7.4% demonstrates the company's ability to generate profits from its revenue streams.
- Gross margin of 67.4% highlights efficient cost management and premium product offerings.
- Beta of 1.41 suggests higher volatility compared to the market, indicating potential for significant price fluctuations.
Who Are LNW's Competitors?
LNW is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| BYD Boyd Gaming Corporation | $87.90 | -0.09% | $6.53B | 85 |
| SGHC Super Group (SGHC) Limited | $14.55 | +0.31% | $7.40B | 52 |
| CHDN Churchill Downs Incorporated | $90.91 | +1.97% | $6.34B | 62 |
| RSI Rush Street Interactive (RSI) | $31.68 | +1.34% | $7.53B | 92 |
| PDSSF Paradise Entertainment Limited | $0.09 | +0.00% | $96.39M | 63 |
| SLNA Selina Hospitality PLC | $0.03 | -20.21% | $16.31M | 59 |
| CDRO Codere Online Luxembourg, S.A. | $9.52 | -0.47% | $432.65M | 59 |
| BVHBB Bluegreen Vacations Holding Corporation | $72.00 | +0.28% | $1.34B | 58 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are LNW's Key Strengths?
- Diversified revenue streams across gaming, digital, and social segments.
- Strong portfolio of proprietary gaming content and technology.
- Established relationships with leading gaming operators.
- Scalable platform for digital gaming and social gaming.
What Are LNW's Weaknesses?
- High dependence on the gaming industry, which is subject to economic cycles.
- Exposure to regulatory risks and compliance costs.
- Intense competition from other gaming companies.
- Potential for technological obsolescence.
What Could Drive LNW Stock Higher?
- Launch of new gaming machines and digital games expected in Q3 2026.
- Expansion of iGaming segment into new markets.
- Continued development of innovative gaming content and technology.
- Strategic partnerships and acquisitions to expand market reach.
What Are the Key Risks for LNW?
- Economic downturns that reduce consumer spending on gaming and entertainment.
- Changes in gaming regulations that increase compliance costs.
- Technological disruptions that render existing products obsolete.
- Intense competition from other gaming companies.
- Dependence on key suppliers for gaming components and technology.
What Are the Growth Opportunities for LNW?
- Expansion of iGaming Segment: Light & Wonder's iGaming segment presents a significant growth opportunity, driven by the increasing legalization and adoption of online gaming globally. The global online gambling market is projected to reach $127.3 billion by 2027. By leveraging its Open Platform System and developing innovative digital gaming content, Light & Wonder can capture a larger share of this expanding market. This expansion is expected to drive revenue growth and enhance the company's profitability over the next 3-5 years.
- Development of Innovative Gaming Content: Light & Wonder's focus on creating engaging and innovative gaming content is a key growth driver. The demand for new and exciting gaming experiences is constantly evolving, and companies that can deliver compelling content are well-positioned to succeed. By investing in research and development and collaborating with leading game developers, Light & Wonder can attract and retain players, driving revenue growth in its Gaming and SciPlay segments. This ongoing initiative is expected to yield positive results within the next 2-3 years.
- Strategic Partnerships and Acquisitions: Light & Wonder can pursue strategic partnerships and acquisitions to expand its market reach and enhance its product offerings. Collaborating with other gaming companies, technology providers, or content creators can provide access to new markets, technologies, and intellectual property. Targeted acquisitions can strengthen the company's competitive position and accelerate its growth trajectory. These strategic moves are expected to contribute to long-term growth and value creation.
- Penetration of Emerging Markets: Light & Wonder has the opportunity to expand its presence in emerging markets, where the demand for gaming and entertainment is growing rapidly. By tailoring its products and services to meet the specific needs and preferences of these markets, the company can tap into new revenue streams and diversify its geographic footprint. This expansion strategy is expected to generate significant growth opportunities over the next 5-10 years.
- Leveraging Data Analytics and AI: Light & Wonder can leverage data analytics and artificial intelligence (AI) to enhance its product development, marketing, and customer engagement efforts. By analyzing player data and using AI-powered tools, the company can personalize gaming experiences, optimize marketing campaigns, and improve customer retention. This data-driven approach is expected to drive revenue growth and improve operational efficiency over the next 2-3 years.
What Opportunities Does LNW Have?
- Expansion of iGaming segment driven by increasing legalization of online gaming.
- Penetration of emerging markets with growing demand for gaming and entertainment.
- Strategic partnerships and acquisitions to expand market reach.
- Leveraging data analytics and AI to enhance product development and marketing.
What Threats Does LNW Face?
- Economic downturns that reduce consumer spending on gaming and entertainment.
- Changes in gaming regulations that increase compliance costs.
- Technological disruptions that render existing products obsolete.
- Increased competition from new entrants and established players.
What Are LNW's Competitive Advantages?
- Strong brand reputation and established relationships with gaming operators.
- Extensive portfolio of proprietary gaming content and technology.
- Scalable platform for digital gaming and social gaming.
- High switching costs for casino operators due to integrated systems.
What Does LNW Do?
Light & Wonder, Inc., formerly known as Scientific Games Corporation, has evolved into a prominent player in the global gaming industry since its incorporation in 1984. Headquartered in Las Vegas, Nevada, the company operates through three primary segments: Gaming, SciPlay, and iGaming. The Gaming segment is involved in the sale of new and used gaming machines, electronic table systems, video lottery terminals, and related components. It also provides table game products, services, and casino management systems. The SciPlay segment focuses on developing and publishing digital games on mobile and web platforms, offering virtual coins, chips, and bingo cards for players. The iGaming segment delivers a suite of digital gaming content, including real-money gaming, distribution platforms, and related services. Light & Wonder's comprehensive portfolio caters to a diverse range of customers, including licensed gaming entities, social gamers, and digital gaming operators. The company's strategic focus on innovation and content development has enabled it to establish a strong presence in the competitive gaming market, both in the United States and internationally.
What Products and Services Does LNW Offer?
- Develops and sells gaming machines, electronic table systems, and video lottery terminals.
- Provides game content and gaming machines to licensed gaming entities.
- Installs and supports casino management systems.
- Develops and publishes digital games on mobile and web platforms.
- Sells virtual coins, chips, and bingo cards for digital games.
- Offers digital real-money gaming content and distribution platforms.
- Provides software design, development, licensing, and maintenance services.
How Does LNW Make Money?
- Generates revenue from the sale of gaming machines and related equipment.
- Earns revenue from the sale of virtual items in digital games.
- Collects fees from licensing its gaming content and technology.
- Provides ongoing maintenance and support services for casino management systems.
What Industry Does LNW Operate In?
Light & Wonder operates in the dynamic gambling, resorts, and casinos industry, which is experiencing growth driven by increasing digital adoption and evolving consumer preferences. The global gaming market is characterized by intense competition and regulatory complexities. Light & Wonder competes with companies like Boyd Gaming Corporation (BYD), Super Group (SGHC) Limited (SGHC), and Churchill Downs Incorporated (CHDN). The company's focus on technology-based products and digital content positions it favorably to capitalize on the growing demand for online gaming and interactive entertainment.
Who Are LNW's Key Customers?
- Licensed gaming entities, including casinos and resorts.
- Social gamers who play digital games on mobile and web platforms.
- Digital gaming operators who offer real-money gaming services.
- Lottery organizations that utilize video lottery terminals.
ROE 50%Key Financial Metrics
Return on equity for Light & Wonder, Inc. stands at 49.7%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 3.9%, showing how much profit it generates from its asset base. LNW trades at a trailing price-to-earnings ratio of 26.72, below the Consumer Cyclical sector average of ~39x. Its free cash flow yield is 7.1%, a gauge of the cash the business throws off relative to its market value. A current ratio of 1.78 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 4.2%, the inverse of the P/E and a quick read on earnings relative to price.
Light & Wonder, Inc. (LNW) Valuation Context
Valued at $8.43B, LNW is classified as a mid-cap stock. Relative to its peer group, LNW's quantitative score of 52/100 is below the peer average of 71/100.
Company Profile
Light & Wonder, Inc. operates in the Gambling, Resorts & Casinos industry within the Consumer Cyclical sector. It is headquartered in Las Vegas, US. The company is led by CEO Matthew R. Wilson. LNW has traded publicly since 1984.
F-Score 7/9Financial Health
Light & Wonder, Inc.'s Piotroski F-Score is 7/9, a 9-point checklist of profitability, leverage and efficiency — signaling solid underlying fundamentals. Its Altman Z-Score of 1.84 places it in the grey zone, a middle ground that warrants monitoring.
FY2026 estForward Outlook
Wall Street analysts project Light & Wonder, Inc. revenue of about $3.61B for fiscal 2026, with EPS near $6.17. The estimate reflects 15 contributing analysts.
LNW Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Diversified revenue streams across gaming, digital, and social segments.
- Strong portfolio of proprietary gaming content and technology.
- Established relationships with leading gaming operators.
- Scalable platform for digital gaming and social gaming.
Bear Case
- High dependence on the gaming industry, which is subject to economic cycles.
- Exposure to regulatory risks and compliance costs.
- Intense competition from other gaming companies.
- Potential for technological obsolescence.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · July 2026
LNW Latest News
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Earnings Scheduled For November 5, 2025
benzinga · Nov 5, 2025
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Earnings Scheduled For August 6, 2025
benzinga · Aug 6, 2025
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Earnings Scheduled For February 27, 2024
benzinga · Feb 27, 2024
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Earnings Scheduled For November 9, 2023
benzinga · Nov 9, 2023
LNW Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for LNW.
Price Targets
Consensus target: $116.00
LNW MoonshotScore
What does this score mean?
The MoonshotScore rates LNW's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Leadership: Matthew R. Wilson
CEO
Matthew R. Wilson serves as the CEO of Light & Wonder, Inc., bringing extensive experience in the gaming and technology sectors. His career includes leadership roles at various companies, where he focused on driving innovation and growth. Wilson's background encompasses strategic planning, product development, and operational management. His expertise is pivotal in guiding Light & Wonder's strategic direction and market expansion. He is responsible for overseeing the company's global operations and ensuring its continued success in the competitive gaming industry.
Track Record: Under Matthew R. Wilson's leadership, Light & Wonder has focused on expanding its digital gaming presence and enhancing its product portfolio. Key achievements include the successful integration of new technologies and the development of innovative gaming content. Wilson has also overseen strategic initiatives to strengthen the company's market position and improve its financial performance. His leadership is characterized by a commitment to innovation and customer satisfaction.
Light & Wonder, Inc. Consumer Cyclical Stock: Key Questions Answered
What does Light & Wonder, Inc. do?
Light & Wonder, Inc. is a global gaming company that develops technology-based products, services, and content for the gaming, lottery, social, and digital gaming industries. The company operates through its Gaming, SciPlay, and iGaming segments, providing a comprehensive portfolio of gaming machines, digital games, and related services. Light & Wonder's solutions cater to a diverse range of customers, including casinos, social gamers, and digital gaming operators, positioning it as a key player in the interactive entertainment market.
What do analysts say about LNW stock?
Analyst consensus on Light & Wonder, Inc. is generally positive, reflecting the company's strong market position and growth prospects. Key valuation metrics, such as the P/E ratio and gross margin, are closely monitored. Growth considerations include the expansion of the iGaming segment and the development of innovative gaming content. Analysts also consider the competitive landscape and regulatory environment when assessing the company's potential. Investors should conduct their own due diligence and consider their investment objectives before making any decisions.
What are the main risks for LNW?
The main risks for Light & Wonder, Inc. include economic downturns that could reduce consumer spending on gaming and entertainment, changes in gaming regulations that could increase compliance costs, and technological disruptions that could render existing products obsolete. Intense competition from other gaming companies and dependence on key suppliers also pose risks. Investors should carefully consider these factors when evaluating the company's investment potential.
How does Light & Wonder, Inc. adapt to changing consumer preferences?
Light & Wonder, Inc. adapts to changing consumer preferences through continuous product innovation, monitoring consumer trends, and leveraging its e-commerce strategy. The company invests in research and development to create new and engaging gaming experiences that cater to evolving player tastes. By analyzing player data and market trends, Light & Wonder can identify emerging preferences and tailor its product offerings accordingly. The company's e-commerce strategy enables it to reach a wider audience and provide convenient access to its digital games and services.
What are Light & Wonder, Inc.'s strongest brands and market positions?
Light & Wonder, Inc.'s strongest brands include its portfolio of proprietary gaming content and technology, which are recognized for their quality and innovation. The company holds significant market share positions in the gaming machine and digital gaming segments. Brand loyalty is fostered through the delivery of engaging gaming experiences and the provision of reliable customer support. Light & Wonder's established relationships with leading gaming operators further strengthen its market position and brand reputation.
What are the key factors to evaluate for LNW?
Light & Wonder, Inc. (LNW) holds an AI score of 52/100 (moderate). P/E: 26.7x vs the S&P 500's ~20-25x. Analysts target $116.00 (+16%). Not financial advice.
How frequently does LNW data refresh on this page?
LNW prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven LNW's recent stock price performance?
Light & Wonder, Inc. (LNW) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Diversified revenue streams across gaming, digital, and social segments. See the News tab for the latest drivers. Past performance does not predict future results.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Information is based on available data and may be subject to change.
- Investment decisions should be based on individual research and risk tolerance.