• 16th consecutive quarter of year-over-year consolidated revenue growth
• Expanded margins across all three businesses driving strong cash flow generation
• Added 2,900+ North American Gaming Operations units year-over-year

Light & Wonder reported results for the first quarter ended March 31, 2025. The company delivered another solid quarter, achieving a 16th consecutive quarter of year-over-year consolidated revenue growth, expanding margins across all three of its businesses and generating strong cash flow, while continuing to execute on its robust content roadmap and cross-platform strategy. Gaming revenue increased 4% compared to the prior year period, primarily driven by growth across all lines of business, including 9% growth in Table products and 5% growth in both Gaming systems and Gaming operations. SciPlay revenue decreased 2% compared to the prior year period, but continued to outpace the social casino market with strong payer metrics. iGaming revenue increased 4%, and AEBITDA increased 8% with margin expanding by 100 basis points, primarily reflecting continued momentum in the U.S. and expansion of the company's partner network. The company repurchased approximately 1.9 million shares of common stock at an aggregate cost of $166 million during the three months ended March 31, 2025. The company also announced the pending acquisition of Grover Gaming's charitable gaming business, which is expected to close during the second quarter of 2025, subject to required regulatory and other approvals and customary closing conditions.

The company remains committed to its $1.4 billion 2025 Consolidated AEBITDA target (pre-Grover transaction) and associated Adjusted NPATA targeted range.

The company remains confident in the various avenues of growth that it sees for 2025 with continued execution on its robust product roadmap driving performance across the business. The company is committed to executing off the strong foundation of world class talent and game portfolio that it has built for long-term success.