Good Morning. A chain is only as strong as…For Light & Wonder, compensation costs linked to Dragon Train drove down its 4Q25 results which otherwise would have been in the black, with the group registering a $15 million loss despite achieving record gaming results. North American sales in particular were strong,, and its iGaming segment hit a new quarterly record in revenue, while social gaming saw a slight dip. Looking to Singapore, Resorts World Sentosa saw the cost of its redevelopment efforts bite into its results, with a 33 percent drop in profit for 4Q25 also influenced by weaker gaming and a lower win rate during the quarter.
What you need to know
- Light & Wonder falls to $15 million loss in 4Q25 due to Dragon Train compensation costs, offsetting record gaming results.
- Genting Singapore reported a 33 percent profit decline in 2025 as weaker gaming, higher costs, and lower win rates weighed on earnings.
On the radar
- Century Entertainment, WPT launch mobile gaming push in Asia-Pacific.
- ACMA clears Tabcorp’s Tap in-play under Interactive Gambling Laws.
- Philippines needs “like-minded president in 2028” says Marcos Jr.
- Over 1.7M tourists visited Macau over extended CNY holiday: PSP.
- Scam networks in Southeast Asia operating at industrial scale: FBI.
- UAE regulator targets operational discipline/sustainable growth: CFO.
AGB Intelligence
RESULTS
L&W falls to $15M 4Q25 loss on settlement costs
Light & Wonder saw an impressive fourth quarter, hitting new records in multiple segments. However, compensation costs linked to Dragon Train pulled down results to a $15 million loss. Gaming revenue was up by 17 percent to $602 million in 4Q25, with a strong increase in North America machine sales. iGaming revenue hit a record $94 million even as L&W’s social gaming arm, SciPlay, saw a slight revenue drop. Looking ahead, the group’s CEO says the focus is on “investing in product innovation and talent”.
Industry Updates
- TxODDS leads with 100% uptime and 500K odds updates on EPL weekend.
- 1xBet accelerates brand ecosystem growth in LatAm at SBC Summit Rio ’26.
- Firecracker Express by Aristocrat Gaming debuts across N. American casinos.
INTELLIGENCE | ASEAN | CAREERS | EVENTS
