Stifel analyst Jeffrey Stantial said reciprocal tariffs could affect gaming suppliers through supply-chain costs and weaker replacement sales. He identified Light & Wonder as exposed because of its component sourcing and potential order reductions by Canadian clients, while noting that supplier impacts would vary.
Operators and suppliers may face changes to equipment costs and replacement orders as tariffs affect supply chains.
Quarter ended 30 September 2026
The day’s most important stories, free. One email a day.
Light & Wonder agreed to pay Aristocrat Leisure $127.5m to settle litigation over the Dragon Train game. It will stop selling Dragon Train and Jewel of the Dragon globally and make best efforts to remove existing installations; Aristocrat’s claims in the US and Australia will be dismissed under the agreement.
The Roundhill Sports Betting & iGaming ETF reportedly gained 6.1% over the previous week, compared with a 3.4% rise in the S&P 500. Super Group shares rose 14.6%, Melco Resorts gained 12.5% and Light & Wonder advanced 12.3%; the report also cited a favourable court ruling for Light & Wonder and analyst price targets for several companies.
Light & Wonder reported third-quarter net income of US$133 million, up 16.7% year on year, on revenue of US$824 million, down 2.0%. The company also appointed Matthieu Labbat chief executive of SciPlay, effective immediately; Labbat previously led Product Madness at Aristocrat Leisure.
Light & Wonder reported a $15 million fourth-quarter loss after a $128 million settlement with Aristocrat Leisure, while revenue rose 12% to $891 million. For 2025, it recorded revenue of $3.3 billion and profit of $276 million; the company also said it had $336 million remaining for share buybacks.
The AGEM Index rose 16.4% in October to 2,108.59 points, its highest level in the tracked history, according to an announcement. All nine constituent companies recorded share-price gains; Konami contributed the largest increase, adding 150.45 points after its share price rose 23.3%.