Company: LAWIL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000750004-25-000048
Chunk: 68

Company: Light & Wonder, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 68
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$7 — %Total operating expenses607 643 (36)(6)%1,211 1,235 (24)(2)%Operating income202 175 27 15 %371 340 31 9 %Net income before income taxes124 108 16 15 %228 208 20 10 %Net income95 82 13 16 %177 164 13 8 %

Revenue

Consolidated Revenue by Reportable Business Segment(in millions)Three Months Ended June 30, 2025 and 2024Six Months Ended June 30, 2025 and 2024

Gaming revenue decreased 2% and increased 1%, for the three and six months ended June 30, 2025, respectively, as compared to the prior year periods. Both periods were primarily impacted by a decrease in Gaming machine sales and Gaming systems, partially offset by higher Gaming operations revenue, which benefited from $21 million in revenue from Grover for both the three and six months ended June 30, 2025, along with a $13 million and a $21 million, respectively, or 7% 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 — %