Company: LAWIL
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0000750004-25-000031
Chunk: 66

Company: Light & Wonder, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 66
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 the period by the number of days for the period.(5) MPU = Monthly Paying Users is the number of individual users who made an in-game purchase during a particular month.(6) AMRPPU = Average Monthly Revenue Per Paying User is calculated by dividing average monthly revenue by average MPUs for the applicable time period.(7) Payer conversion rate is calculated by dividing average MPU for the period by the average MAU for the same period.

For the three months ended March 31, 2025, revenue decreased 2%, primarily due to a decline in average monthly payers, primarily attributable to Jackpot Party® Casino, partially offset by an increase in average monthly revenue per paying user.

Average MAU and average MPU for the three months ended March 31, 2025 decreased due to the turnover in users. ARPDAU increased as a function of higher player monetization with a slight decrease in average DAU. AMRPPU increased, with payer conversion increasing slightly, as SciPlay continues to improve content and features, resulting in steady paying player interaction.

Payer conversion rates increased slightly due to consistent payer interaction with the games as a result of SciPlay’s focus on introducing new content, features and live events in games.

Operating Expenses and AEBITDA

The slight decrease in operating expenses for the three months ended March 31, 2025, as compared to prior year period, was primarily driven by lower cost of revenue due to higher margins on our direct-to-consumer platform revenue.

AEBITDA increased by $2 million, and AEBITDA margin increased by 2 percentage points to 32%, primarily due revenue generated via our proprietary direct-to-consumer platform, which generates higher margins.

iGAMING

Our iGaming business segment provides a comprehensive suite of digital gaming content, distribution platforms and player account management systems, as well as various other iGaming content and services. The majority of our revenue is derived from casino-style game content, including a wide variety of internally developed and branded games as well as popular third-party provider games. These games are made available to iGaming operators via content aggregation platforms, including Open Gaming System, remote gaming servers and various other platforms. We also provide our Open Platform System, a player account management system which offers a wide range of reporting and administrative functions and tools providing operators full control over all areas of digital gaming operations. Generally, we host the play of our game content which is integrated with the online casino operators’ websites.

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