Good morning. The long game still matters. Light & Wonder reported first-quarter revenue of $790 million as gains in iGaming and gaming operations helped offset softer machine sales and continued weakness in the social casino segment. The supplier also posted higher margins and record wagering volume through its Open Gaming System despite a decline in net income. Meanwhile, in South Korea, Paradise Co. saw 1Q26 operating profit fall 34.9 percent year-on-year as higher costs tied to the Hyatt acquisition pressured margins. Looking to the United Arab Emirates, Wynn Resorts is reportedly considering delaying its Al Marjan Island opening due to regional tensions.
What you need to know
- Light & Wonder posts 2 percent revenue growth in 1Q26 as iGaming and gaming operations deliver double-digit gains.
- Paradise Co. 1Q26 operating profit falls 34.9 percent as Hyatt acquisition, labor and marketing costs outweigh revenue growth.
- Wynn may delay the opening of its UAE casino resort as regional conflict disrupts construction activity and weakens tourism demand.
On the radar
- MGM China leverage falls below pre-pandemic levels: CreditSights.
- Macau gaming regulator director Ng Wai Han gets 1-year term renewal.
- South Korea’s GKL April casino sales rise 11.1% to $28M.
- Cambodia lowers economic outlook as anti-scam campaign hits sectors.
- Bee Macau launches casino-grade playing card factory JV with APE.
AGB Intelligence
RESULTS
Light & Wonder posts higher 1Q26 AEBITDA despite legal hit
Light & Wonder reported first-quarter 2026 revenue of $790 million, up 2 percent year-over-year, as strong growth in gaming operations and iGaming offset weaker gaming machine sales and continued softness in social casino operations. Adjusted EBITDA rose 5 percent to $327 million with margin expansion across all segments, while net income fell 37 percent to $52 million due mainly to legal reserve contingencies linked to legacy matters involving compensation to Aristocrat.
Industry Updates
- Shikenso joins forces with Team Falcons to enhance sponsorship intelligence.
- IGT to highlight Gaming and FinTech innovations at G2E Asia 2026.
- Play’n GO’s Reactoonz 100 wins Game of the Year at SBC Europe Awards 2026.
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