Company: LAWIL
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000750004-25-000072
Chunk: 122

Company: Light & Wonder, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 122
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 the Grover acquisition and pay fees and expenses related thereto. On September 24, 2025, we extended our debt maturities and decreased our interest rate by issuing $1.0 billion in aggregate principal amount of 6.250% senior unsecured notes due 2033, the net proceeds of which were used to redeem all $700 million of the 2028 Unsecured Notes, pay all outstanding borrowings under the LNWI Revolver and pay accrued and unpaid interest thereon plus related fees and expenses, with any remaining proceeds used for general corporate purposes, which may include repurchases of the Company’s equity.

We delivered a solid quarterly performance, highlighted by earnings and operating cash flows growth based on strong execution and game performance, while continuing to advance our robust content roadmap and cross-platform strategy. Consolidated revenue for the three months ended September 30, 2025 increased by 3% to $841 million, and it increased slightly to $2.4 billion for the nine months ended September 30, 2025, as compared to the prior year periods.

For the year-to-date period ended October 31, 2025, we returned $477 million (excluding excise tax) to shareholders through share repurchases and completed approximately 51% of our $1.5 billion share repurchase plan that was authorized in June 2024 and increased in July 2025.

As previously announced, we are in the process of moving from our current dual listing on Nasdaq and the ASX to a sole primary listing on the ASX, which is expected to take effect on November 13, 2025 (ET) and entails the conversion from an ASX Foreign Exempt Listing to an ASX Standard Listing (the “ASX Transition”). The ASX Transition, including the timetable thereof, remains subject to the ASX granting waivers and confirmations with respect to various conditions and other applicable U.S. and Australian regulatory, and other third-party, approval and processes.

In April of 2025, the U.S. government and many foreign countries imposed a series of new trade tariffs and other changes in trade policy. In addition, in response to these tariffs, other countries have implemented retaliatory tariffs and other measures impacting U.S. goods. These tariffs place additional duties on imports, and we currently source a portion of the raw 

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materials and components for our Gaming business from China and across Asia. We have evaluated various mitigation strategies, including but not limited to, supplier diversification, adjusting