Company: LAWIL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000750004-25-000048
Chunk: 147

Company: Light & Wonder, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 2
Chunk 147
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 for both periods, increase supported by our diversified portfolio of high-performing game franchises. 

SciPlay revenue decreased 2% for both the three and six months ended June 30, 2025, as compared to the prior year periods, due to a decline in average monthly payers primarily attributable to JACKPOT PARTY® Casino, partially offset by an increase in average monthly revenue per paying user. Average revenue per daily active user grew 4% and 5% for the three and six months ended June 30, 2025, respectively, while average monthly revenue per paying user increased 10% and 6% for the three and six months ended June 30, 2025.

The increases in iGaming revenue of 9% and 7% for the three and six months ended June 30, 2025, respectively, were driven primarily by continued momentum in the North American markets and expansion of our partner network.

34

Operating Expenses

Three Months Ended June 30,VarianceSix Months Ended June 30,Variance($ in millions)202520242025 vs. 2024202520242025 vs. 2024Operating expenses:  Cost of services$113 $111 $2 2 %$224 $223 $1 — %  Cost of products106 125 (19)(15)%206 233 (27)(12)%SG&A208 220 (12)(5)%425 438 (13)(3)%R&D64 66 (2)(3)%129 128 1 1 %D&A99 87 12 14 %190 173 17 10 %Restructuring and other17 34 (17)(50)%37 40 (3)(8)%Total operating expenses$607 $643 $(36)(6)%$1,211 $1,235 $(24)(2)%

Cost of Revenue

Total cost of revenue for the three and six months ended June 30, 2025 decreased primarily as a result of lower cost of products on lower revenue.

SG&A

SG&A decreased $12 million and $13 million for the three and six months ended June 30, 2025, respectively, as compared to the prior year periods. The change was primarily driven by lower bad debt expense of $8 million and $10 million, respectively, as a result of certain recoveries, and lower salaries and benefits