Company: LAWIL
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000750004-25-000016
Chunk: 66

Company: Light & Wonder, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 66
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 Aristocrat, was granted a preliminary injunction on future sales and distribution of our Dragon Train-themed games, as described above. While we continue to execute a number of key initiatives to mitigate the immediate impact and any continuing business disruption from this order, we cannot be certain such measures will have the intended impact, and the results could have a material adverse impact on our results of operations, cash flows or financial condition.

Seasonality. Our results of operations fluctuate due to seasonal trends and other factors impacting all of our business segments, particularly the Gaming and SciPlay businesses. See “Seasonality” in Part I, Item 1 of this Annual Report on Form 10-K.

For additional trends and uncertainties impacting our business segments, refer below to Business Segment Results, specifically the Current Year Update section for each business segment.

Reportable Segments

We report our operations in three business segments — Gaming, SciPlay and iGaming — representing our different products and services. See Notes 2 and 3 for additional information.

CONSOLIDATED RESULTS

The following presents information about our results of operations for the year ended December 31, 2024 compared to 2023. See Part II, Item 7 “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of the 2023 Annual Report on Form 10-K for our results of operations for the year ended December 31, 2023 as compared to 2022.

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Year Ended December 31, Variance($ in millions)202420232024 vs. 2023Total revenue$3,188 $2,902 $286 10 %Total operating expenses2,520 2,384 136 6 %Operating income668 518 150 29 %Net income before income taxes421 205 216 105 %Net income336 180 156 87 %Net income attributable to L&W336 163 173 106 %

Revenue

Gaming revenue benefited from our diversified portfolio of successful game franchises. Global Gaming machine sales increased by 22% and were the primary driver of $218 million, or 12%, Gaming revenue growth in 2024. Gaming revenue also benefited from the consistent demand for Gaming systems, as well as the continued momentum in Gaming operations, with strong performance in our U.S. and Canada premium install base which reached record levels, fueled by the improving performance of our diverse portfolio of hit franchises.

SciPlay revenue increased by $44 million, or 6%, due to