Company: LAWIL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000750004-25-000048
Chunk: 71

Company: Light & Wonder, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 71
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 content and related offerings that allow charities to maximize their funding and for which Grover is compensated based upon a percentage of gross gaming revenue. Grover currently operates in five states (as described above) with over 11,000 active units and 1,500 locations and is well positioned to capitalize on future expansion and legalization of charitable gaming.

For additional information, refer to the Gaming primary business activities summary included within “Business Segment Results” under Item 7 of our 2024 10-K.

Current Year Update

Gaming revenue for the three months ended June 30, 2025 decreased by 2%, primarily driven by a decrease in Gaming machine sales of 16% and in Systems revenue of 11%. The impact of macroeconomic uncertainty during the quarter led to more cautious purchasing behavior and delayed capital expenditure among some of our customers, which impacted the timing of game sales. This was partially offset by growth in Gaming operations revenue of 19%, which benefited from $21 million in Grover revenue contributions along with a $13 million, or 7%, increase supported by our diversified portfolio of high-performing game franchises. Gaming revenue for the six months ended June 30, 2025 increased slightly by 1%, as compared to the prior year period. The change in Gaming revenue for the three and six months ended June 30, 2025 also benefited from Table products growth of 2% and 5%, respectively.

Our growth is driven by the continued strength and success of our diversified portfolio of successful game franchises, including KONG: SKULL ISLAND, HUFF N’ PUFF®, ULTIMATE FIRE LINK®, INVADERS! ATTACK FROM THE PLANET MOOLAH®, FRANKENSTEIN, our hit Asian-themed games 88 FORTUNES® and DANCING DRUMS®, stepper favorites QUICK HIT® and BLAZING 777® and the success of our COSMIC®, COSMIC UPRIGHT and HORIZON® cabinets. We are actively monitoring any impact of recent tariffs, inflationary pressures, supply chain disruptions and macroeconomic uncertainty that may impact our operations and financial results. See the “Business Overview” section above and Item 1A “Risk Factors” for information regarding recent trade tariffs which may have a significant impact on our Gaming business.

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Results of Operations and KPIs

Three and Six Months Ended June 30, 2025 and 2024

Three Months Ended June 30,VarianceSix Months Ended June