Light & Wonder just held its 2025 Investor Day in New York. The company rolled out updates on financial goals and strategy. One major highlight: Light & Wonder 2028 targets aim high, especially for AEBITDA and per-share earnings.

• Light & Wonder reaffirmed its 2025 Consolidated AEBITDA goal of $1.4 billion, excluding new charitable gaming assets. The company also laid out its plan to hit $2.0 billion in AEBITDA by 2028. The 2028 goal also includes doubling its 2024 EPSa (adjusted earnings per share) to over $10.55.

• The Grover Charitable Gaming acquisition was finalized on May 16, 2025. This business will be included in the Gaming segment and is set to benefit from L&W’s R&D capabilities. Growth will focus on expanding device count and profitability using Grover’s market reach.

• In Gaming, the company plans to grow its North American Premium footprint by 400 basis points by 2028. It also aims to boost revenue per day and expand its global game sales share by another 400 basis points. Further goals include increasing software adoption in systems and maintaining leadership in Table Products.

• The SciPlay business is targeting over 30% growth in ARPDAU by 2028. This will be driven by improved Live Ops, broader market reach, and more revenue via Direct-to-Consumer channels. SciPlay is also developing new games using both in-app ads and purchases, supported by its SciAlgo tech and VIP Hub.

• iGaming will push for a 300 basis point increase in global 1st-party content share, aiming to exceed 10% by 2028. The team plans to enter new regions while maintaining strongholds in current ones. Expansion will also include platform features and a larger PAM customer base.

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