Company: LAWIL
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000750004-25-000072
Chunk: 33

Company: Light & Wonder, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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 iGaming$86 $74 $244 $222 (1) Other primarily represents advertising revenue, which was not material for the periods presented.Grover revenues are generated by providing customers with access to proprietary electronic pull tabs equipment and content for which consideration is based upon a revenue participation model, with variability generally resolved in the reporting period. For these contracts with customers, we generally transfer control and recognize revenue over time based on the amount we expect to receive and classify such revenue as gaming operations revenue. Payments from customers under these contracts are typically due on a monthly or more frequent basis. The amount of rental income revenue included in services revenue within the consolidated statement of operations that is outside the scope of ASC 606 was $160 million and $449 million for the three and nine months ended September 30, 2025, respectively, and $138 million and $401 million for the three and nine months ended September 30, 2024, respectively.Contract Liabilities and Other DisclosuresThe following table summarizes the activity in our contract liabilities for the reporting period:Nine Months Ended September 30, 2025Contract liability balance, beginning of period(1)$21 Liabilities recognized during the period21 Amounts recognized in revenue from beginning balance(15)Contract liability balance, end of period(1)$27 (1) Contract liabilities are included within Accrued liabilities and Other long-term liabilities in our consolidated balance sheets.The timing of revenue recognition, billings and cash collections results in billed receivables, unbilled receivables (contract assets), and customer advances and deposits (contract liabilities) on our consolidated balance sheets. Other than contracts with customers with financing arrangements exceeding 12 months, revenue recognition is generally proximal to 

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conversion to cash. The following table summarizes our balances in these accounts for the periods indicated (other than contract liabilities disclosed above):ReceivablesContract Assets(1)Beginning of period balance$682 $43 End of period balance, September 30, 2025746 48 (1) Contract assets are included primarily within Prepaid expenses, deposits and other current assets in our consolidated balance sheets.As of September 30, 2025, we did not have material unsatisfied performance obligations for contracts expected to be long-term or contracts for which we recognize revenue at an amount other than that for which we have the right to invoice for goods or services delivered or performed.

(3) Reportable Segments

We report our operations in