Light & Wonder increased third-quarter earnings and cash generation even as consolidated revenue slipped 2% year on year to $824 million. Adjusted net profit after tax rose 7% to $163 million, reflecting stronger margins and a favorable business mix.
The company's results showed consolidated AEBITDA of $383 million, up 2%, with the margin improving by one percentage point to 46%. Adjusted earnings per share increased 17% to $2.12.
Gaming remained the largest division with revenue of $554 million, down 1%. Gaming operations and machine sales grew, while lower systems and table-products revenue offset part of that progress.
The digital businesses moved in different directions. Global Gaming Insider reported that iGaming revenue climbed 13% to $97 million, while SciPlay revenue declined 12% to $173 million amid softness in the free-to-play social casino market.
Cash conversion improved during the quarter. Net cash from operating activities rose 28% to $236 million and adjusted free cash flow increased 21% to $181 million, giving the supplier more capacity to fund its product pipeline and reduce leverage.
