Light & Wonder
About: Light & Wonder is principally an electronic gaming machine manufacturer, selling machines to pubs, clubs, and casinos. The firm is licensed in most jurisdictions allowing gambling globally. Light & Wonder is one of the three largest players in the space along with International Game Technology and Aristocrat Leisure. SciPlay, about one fourth of revenue, develops and distributes casual mobile games, principally in the social casino niche. The more nascent iGaming business sits between these two businesses, providing digital content and capabilities to real-money gaming providers.
Employees: 6,800
Fund manager confidence
Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)
51% more call options, than puts
Call options by funds: $33.4M | Put options by funds: $22.1M
48% more first-time investments, than exits
New positions opened: 65 | Existing positions closed: 44
17% more funds holding in top 10
Funds holding in top 10: 6 [Q4 2024] → 7 (+1) [Q1 2025]
7% more funds holding
Funds holding: 260 [Q4 2024] → 278 (+18) [Q1 2025]
1.06% more ownership
Funds ownership: 67.92% [Q4 2024] → 68.98% (+1.06%) [Q1 2025]
3% more repeat investments, than reductions
Existing positions increased: 94 | Existing positions reduced: 91
3% less capital invested
Capital invested by funds: $5.18B [Q4 2024] → $5.04B (-$136M) [Q1 2025]
Research analyst outlook
5 Wall Street Analysts provided 1 year price targets over the past 3 months
5 analyst ratings
Truist Securities Barry Jonas | 47%upside $130 | Buy Maintained | 16 Jul 2025 |
Macquarie Chad Beynon | 38%upside $122 | Outperform Maintained | 16 Jun 2025 |
Benchmark Mike Hickey | 13%upside $100 | Buy Maintained | 12 May 2025 |
Mizuho Ben Chaiken | 5%downside $84 | Underperform Maintained | 8 May 2025 |
Stifel Steven Wieczynski | 7%upside $95 | Hold Maintained | 8 May 2025 |
Financial journalist opinion
Based on 5 articles about LNW published over the past 30 days
