Company: LAWIL
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000750004-25-000072
Chunk: 73

Company: Light & Wonder, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 73
---
(7,556)(43)%Total new unit shipments8,608 13,063 (4,455)(34)%27,417 34,069 (6,652)(20)%Average sales price per new unit$19,637 $17,094 $2,543 15 %$19,532 $18,374 $1,158 6 %(1) Inclusive of Grover active devices.(2) Units exclude those related to game content licensing.

37

Gaming Operations

Gaming operations revenue growth for the three months ended September 30, 2025 was driven by a $26 million, or 15%, increase driven by strong game performance of hit franchises, including our premium games, as well as a contribution of $40 million in revenue from Grover. For the nine months ended September 30, 2025, these drivers impacted revenue growth by $48 million and $61 million, respectively. Gaming operations for the U.S. and Canada (excluding Grover) had a 2,834-unit increase in installed base from the prior year period end, while Grover had an 11,255-unit active installed base as of September 30, 2025. Gaming operations (including Grover) had a decrease in average daily revenue per unit of $3.70 and $2.65 for the three and nine months ended September 30, 2025, respectively, as growth related to our existing U.S. and Canada units was offset by the inclusion of lower-yielding Grover units. Average daily revenue per unit for International units increased by $1.08 and $0.93 for the three and nine months ended September 30, 2025, respectively. International ending installed base units decreased by 1,932 units from September 30, 2024 to September 30, 2025, primarily due to the expected closure of certain LBOs in the U.K. and the reduction of certain low-yielding units in Latin America.

Gaming Machine Sales

Gaming machine sales revenue for both periods decreased primarily due to the timing of international game sales, including overall more cautious purchasing behavior and delayed capital expenditure among some of our customers.

The following table summarizes Gaming machine sales changes:

Three Months Ended September 30,VarianceNine Months Ended September 30,Variance202520242025 vs. 2024202520242025 vs. 2024U.S. and Canada unit shipments:Replacement units5,