Light & Wonder Inc 2025年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES For the quarterly period endedMarch31, 2025 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant: (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule405 of RegulationS-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required to Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Common stock outstanding as of May2, 2025 was84,378,631. PART I.FINANCIAL INFORMATION Item 1.Condensed Consolidated Financial Statements (unaudited)Consolidated Statements of Operations for the Three Months Ended March 31, 2025 and 2024Consolidated Statements of Comprehensive Income for the Three Months Ended March 31, 2025 and 2024Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2025 and 2024Notes to Condensed Consolidated Financial StatementsItem 2.Management's Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and ProceduresPART II.OTHER INFORMATIONItem 1.Legal ProceedingsItem 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 3.Defaults Upon Senior SecuritiesItem 4.Mine Safety DisclosuresItem 5.Other InformationItem 6Exhibits 889101112 43 Glossary of Terms The following terms or acronyms used in this Quarterly Report on Form 10-Q are defined below: Intellectual Property Rights All®notices signify marks registered in the United States. © 2025 Light & Wonder, Inc. All Rights Reserved. The MONOPOLY name and logo, the distinctive design of the game board, the four corner squares, the MR. MONOPOLY name andcharacter, as well as each of the distinctive elements of the board, cards, and the playing pieces are trademarks of Hasbro for its Frankenstein is a trademark and copyright of Universal Studios. Licensed by Universal. All Rights Reserved.UNIVERSAL MONSTERS™The Universal Studios Monsters are trademarks and copyrights of Universal Studios. Licensed by FORWARD-LOOKING STATEMENTS Throughout this Quarterly Report on Form 10-Q, we make “forward-looking statements” within the meaning of the U.S.Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results or strategiesand can often be identified by the use of terminology such as “may,” “will,” “estimate,” “intend,” “plan,” “continue,” “believe,”“expect,” “anticipate,” “target,” “should,” “could,” “potential,” “opportunity,” “goal,” or similar terminology. The forward-lookingstatements contained in this Quarterly Report on Form 10-Q are generally located in the material set forth under the heading“Management’s Discussion and Analysis of Financial Condition and Results of Operations” but may be found in other locations as •our inability to successfully execute our strategy;•slow growth of new gaming jurisdictions, slow addition of casinos in existing jurisdictions and declines in the replacementcycle of gaming machines;•risks relating to foreign operations, including anti-corruption laws, fluctuations in currency rates, restrictions on the payment ofdividends from earnings, restrictions on the import of products and financial instability;•difficulty predicting what impact new or increased tariffs imposed by and other trade actions taken by the U.S. and foreignjurisdictions could have on our business;•U.S. and international economic and industry conditions, including changes in consumer sentiment and discretionary spending,increases in benchmark interest rates and the effects of inflation;•public perception of our response to environmental, social and governance issues; •level of our indebtedness, higher interest rates, availability or adequacy of cash flows and liquidity to satisfy indebtedness, otherobligations or future cash needs; •the risk that the proposed Grover Charitable Gaming acquisition may involve unexpected co