Company: LAWIL
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0000750004-25-000031
Chunk: 106

Company: Light & Wonder, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 106
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 9 %Average daily revenue per unit$48.25 $48.82 $(0.57)(1)%International units(1):Installed base at period end19,896 22,163 (2,267)(10)%Average daily revenue per unit$15.07 $14.28 $0.79 6 %Gaming machine sales:U.S. and Canada new unit shipments5,769 4,437 1,332 30 %International new unit shipments4,001 5,259 (1,258)(24)%Total new unit shipments9,770 9,696 74 1 %Average sales price per new unit$19,996 $19,897 $99 — %nm = not meaningful.(1) Units exclude those related to game content licensing.

Gaming Operations

Gaming operations revenue growth was driven by strong game performance of hit franchises, including our premium games. Gaming operations for U.S. and Canada had a 2,967-unit increase in installed base, partially offset by a decrease in average daily revenue per unit of $0.57 for the three months ended March 31, 2025. Average daily revenue per unit for International units increased by $0.79 for the three months ended March 31, 2025. International ending installed base units decreased by 2,267 units primarily due to the expected closure of certain LBOs in the U.K., removals in Greece and the reduction of certain low-yielding units in Latin America.

33

Gaming Machine Sales

Gaming machine sales revenue increased primarily due to higher U.S. and Canada unit shipments.

The following table summarizes Gaming machine sales changes:

Three Months Ended March 31,Variance202520242025 vs. 2024U.S. and Canada unit shipments:Replacement units5,398 4,296 1,102 26 %Casino opening and expansion units371 141 230 163 %   Total unit shipments5,769 4,437 1,332 30 %International unit shipments:Replacement units2,998 3,711 (713)(19)%Casino opening and expansion units1,003 1,548 (545)(35)%   Total unit shipments4,001 5,259 (1,258)(24)%

Operating Expenses and AEBITDA

Operating expenses for the three months ended March 31, 202