Company: LAWIL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000750004-25-000048
Chunk: 70

Company: Light & Wonder, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 70
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 (expense) income, net was primarily due to the impact of changes in foreign currency exchange rates.Income tax expense(1)(29)(26)(51)(44)The increase in income tax expense was primarily due to the increase in worldwide income.(1) For additional information regarding our income tax expense, see Note 13.

Foreign Currency Exchange (F/X)

Our results are impacted by changes in foreign currency exchange rates used in the translation of foreign functional currencies into USD and the re-measurement of foreign currency transactions or balances. The impact of foreign currency 

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exchange rate fluctuations represents the difference between current rates and prior-period rates applied to current activity. Our exposure to foreign currency volatility on revenue is as follows:

Three Months Ended June 30,Six Months Ended June 30,2025202420252024($ in millions)Revenue% Consolidated RevenueRevenue% Consolidated RevenueRevenue% Consolidated RevenueRevenue% Consolidated RevenueForeign Currency:British Pound Sterling$33 4 %$32 4 %$56 4 %$60 4 %Euro57 7 %49 6 %111 7 %97 6 %Australian Dollar38 5 %48 6 %62 4 %81 5 %

REPORTABLE BUSINESS SEGMENT RESULTS (for the three and six months ended June 30, 2025 compared to the three and six months ended June 30, 2024)

GAMING

Our Gaming business segment designs, develops, manufactures, markets and distributes a comprehensive portfolio of gaming content, products and services. We provide our Gaming portfolio of products and services to commercial casinos, Native American casinos, wide-area gaming operators such as LBOs, arcade and bingo operators in the 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,