Company: LAWIL
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000750004-25-000016
Chunk: 64

Company: Light & Wonder, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 64
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 shares of common stock since the initial repurchase program was authorized in March 2022. Additionally, 2024 was the first full year in which the Company’s common stock was listed on both the Nasdaq and the ASX, and it was added to the Russell 1000 Index in June 2024 and the S&P/ASX 100 Index in September 2024, continuing to enhance the Company’s profile with global investors.

On September 23, 2024, we received an order from the U.S. District Court for the District of Nevada granting Aristocrat a preliminary injunction on future sales and distribution of our Dragon Train-themed games. We are executing a number of key initiatives to mitigate the immediate impact and any continuing business disruption from this order, including but not limited to, leveraging our diversified portfolio of successful game franchises, as well as the development of new iterations of the Dragon Train franchise consistent with the terms of the Court’s ruling. Our estimated impact of the preliminary injunction on our consolidated revenue for 2025 and beyond is not expected to be material.

On February 10, 2025, we entered into an amendment to the LNWI Credit Agreement which, among other things, (i) provides for new revolving commitments in an amount of $1.0 billion, replacing the existing revolving commitments of $750 million, (ii) extends the maturity of the revolving commitments, and (iii) reduces the applicable margin for the revolving loans by up to 50 basis points. See Note 14 for further details.

On February 18, 2025, we announced the strategic acquisition of Grover Charitable Gaming for an upfront consideration of $850 million, which will be funded with the combination of existing cash, incremental debt financing and the recently expanded LNWI Revolver. The transaction is expected to close during the second quarter of 2025, subject to required regulatory and other approvals and customary closing conditions. Grover Gaming is a leading provider of electronic pull-tabs distributed over five U.S. states: North Dakota, Ohio, Virginia, Kentucky and New Hampshire. We believe this acquisition further enhances our growth profile, cross-platform strategy and presence in regulated land-based markets.

Trends and Uncertainties

We have a number of trends and uncertainties that have impacted and may continue to impact our business and results of operations. Such impacts have in some cases been material and could be material in the future should they continue.

Our ability to execute on our strategic initiatives. We continue to advance on our strategy to become a leading cross