Light & Wonder (LAWIL) Research & Development (2012 - 2026)
Light & Wonder (LAWIL) posted Research & Development of $56 million for Q3 2026, down 9.7% from $62 million a year earlier and down 8.2% from the prior quarter.
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Analysis
Light & Wonder (LAWIL) Research & Development (2012 - 2026) Analysis & Trends
For the trailing twelve months through Sep 30, 2026, Research & Development at Light & Wonder was $244 million, down 5.8% year-over-year; for FY2025, it came in at $252 million, down 3.8% from FY2024.
- Annual Research & Development shows a five-year compound annual growth rate of 11.2% (FY2020 to FY2025).
- In prior years, Light & Wonder's Research & Development was $262 million in FY2024 (+14.9%), $228 million in FY2023 (+4.6%), $218 million in FY2022 (+14.7%) and $190 million in FY2021 (+28.4%).
- The Q3 2026 figure stands as the lowest quarterly Research & Development since Q3 2023.
- On a year-over-year basis, Research & Development increased in three of the last eight quarters, with an average decline of 1.7%.
- The strongest year-over-year quarter for Research & Development in the past five years was Q4 2021, with growth of 31.6%; the weakest was Q4 2025, with a decline of 11.8%.
- According to Business Quant data, Research & Development for the three prior quarters was $61 million (Q2 2026), $67 million (Q1 2026) and $60 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Wynn Resorts | 44.86 Bn | 38.23 Bn | 655.12 Mn | - |
| 2 | Vail Resorts | 28.33 Bn | 27.04 Bn | - | - |
| 3 | Las Vegas Sands | 25.59 Bn | 12.41 Bn | 1.47 Bn | 37.00 Mn |
| 4 | DraftKings | 17.25 Bn | 13.04 Bn | 429.05 Mn | 137.39 Mn |
| 5 | Flutter Entertainment | 14.34 Bn | 7.97 Bn | 1.52 Bn | 350.00 Mn |
| 6 | Life Time Group Holdings | 10.65 Bn | 9.82 Bn | 419.01 Mn | - |
| 7 | MGM Resorts International | 8.32 Bn | -116.89 Mn | 1.73 Bn | - |
| 8 | MSG Knickerbockers | 7.63 Bn | 7.24 Bn | 36.67 Mn | - |
| 9 | Light & Wonder | 7.12 Bn | 6.42 Bn | 623.00 Mn | 56.00 Mn |
| 10 | Churchill Downs | 6.99 Bn | 6.25 Bn | 207.00 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 56.00 Mn |
| Jun 30, 2026 | 61.00 Mn |
| Mar 31, 2026 | 67.00 Mn |
| Dec 31, 2025 | 60.00 Mn |
| Sep 30, 2025 | 62.00 Mn |
| Jun 30, 2025 | 64.00 Mn |
| Mar 31, 2025 | 65.00 Mn |
| Dec 31, 2024 | 68.00 Mn |
| Sep 30, 2024 | 66.00 Mn |
| Jun 30, 2024 | 66.00 Mn |
| Mar 31, 2024 | 62.00 Mn |
| Dec 31, 2023 | 60.00 Mn |
| Sep 30, 2023 | 55.00 Mn |
| Jun 30, 2023 | 58.00 Mn |
| Mar 31, 2023 | 54.00 Mn |
| Dec 31, 2022 | 55.00 Mn |
| Sep 30, 2022 | 56.00 Mn |
| Jun 30, 2022 | 56.00 Mn |
| Mar 31, 2022 | 53.00 Mn |
| Dec 31, 2021 | 50.00 Mn |
API Access
Light & Wonder Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=LAWIL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "LAWIL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=LAWIL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();