Company: LAWIL
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000750004-25-000072
Chunk: 71

Company: Light & Wonder, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 71
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 U.K. and continental Europe, charitable organizations, and government agencies and their affiliated operators.

We generate Gaming revenue from both services and product sales. Our services revenue includes revenue earned from Participation gaming machines, other leased gaming machines (including VLTs and electronic table games), supplied table products and services (including Shufflers), casino management technology solutions and systems, and other services revenues. Our product sales revenue includes the sale of new and used gaming machines, electronic table games, VLTs and VGTs, casino-management technology solutions and systems, table products, proprietary table game licensing, conversion kits (including game, hardware or operating system conversions) and spare parts.

Grover revenues are generated by providing charitable gaming entities with access to proprietary electronic pull tabs equipment, content and related offerings that allow charities to maximize their funding and for which Grover is compensated based upon a revenue participation model. Grover currently operates in five states (as described above) with over 11,250 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 September 30, 2025 increased by 4%, primarily driven by growth in Gaming operations revenue of 38%, which benefited from a $26 million, or 15%, increase supported by our diversified portfolio of high-performing game franchises along with $40 million in Grover revenue contributions. Gaming revenue for the nine months ended September 30, 2025 increased by 2% as compared to the prior year period. The change in Gaming revenue also benefited from Table products growth of 6% and 5% for the three and nine months ended September 30, 2025, 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