Company: LAWIL
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000750004-25-000016
Chunk: 73

Company: Light & Wonder, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 73
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 %Average sales price per new unit$18,438 $17,229 $1,209 7 %(1) Units exclude those related to game content licensing.

Revenue

As noted above, Gaming revenue increased in 2024 as demand for our Gaming products and services remained strong, and our Gaming operations and Gaming machine sales have reached new heights. Gaming operations growth momentum continued, driven both by higher installed base for U.S. and Canada and higher average daily revenue per unit.

Gaming Operations

Gaming operations revenue for 2024 demonstrated continued momentum driven by strong game performance of hit franchises and premium games. Gaming operations installed base for U.S. and Canada increased from 31,220 units in 2023 to 34,004 units in 2024, along with an increase in average daily revenue per unit of $0.79, as growth in our premium games was only partially offset by reductions in our public gaming and leased core products. Average daily revenue per unit also increased for International units by $0.68. Alternatively, International ending installed base units decreased from 22,327 units in 2023 to 20,165 units in 2024, primarily due to the expected closure of certain LBOs in the U.K. along with the reduction of certain low-yielding units in Greece and Latin America. Gaming operations generated 33% and 36% of total Gaming segment revenues for 2024 and 2023, respectively. 

Gaming Machine Sales

The increase in Gaming machine sales revenue was primarily driven by higher sales of replacement units globally and an increase in casino opening and expansion activity internationally.

58

The following table summarizes Gaming machine sales changes:

Year Ended December 31,Variance202420232024 vs. 2023U.S. and Canada unit shipments:Replacement units20,742 17,351 3,391 20 %Casino opening and expansion units1,578 1,149 429 37 %   Total unit shipments22,320 18,500 3,820 21 %International unit shipments:Replacement units19,342 16,641 2,701 16 %Casino opening and expansion units1,996 2,495 (499)(20)%   Total unit shipments21,338 19,136 2,202 12 %

Operating Expenses

The increase in operating expenses is primarily due to $51 million in higher cost of revenue associated with the increase in revenue as described