LNW Light and Wonder Inc

Selling, general and administrative

$ 818

$ 731

$ 1,575

$ 1,400

Operating expenses:

220

203

438

396

Research and development

128

112

Depreciation, amortization and impairments

108

173

208

Other income (expense), net

Operating income

175

113

340

215

Other (expense) income:

Interest expense

(75)

(78)

(150)

(153)

(15)

(16)

Total other expense, net

(67)

(93)

(132)

(169)

Net income before income taxes

108

208

Income tax expense

(26)

(15)

(44)

(14)

Net income

164

Less: Net income attributable to noncontrolling interest

Net income (loss) attributable to L&W

$ 82

$ (1)

$ 164

$ 21

Per Share - Basic:

Net income (loss) attributable to L&W

$ 0.92

$ (0.01)

$ 1.83

$ 0.23

Per Share - Diluted:

Net income (loss) attributable to L&W

$ 0.90

$ (0.01)

$ 1.78

$ 0.22

Weighted average number of shares used in per share calculations:

Revenue:

$ 526

$ 496

$ 1,044

$ 973

Operating expenses:

Cost of revenue

^[1]

111

110

223

218

Products

Revenue:

Cash flows from operating activities:

292

235

531

427

Operating expenses:

Cost of revenue

^[1]

$ 125

$ 108

$ 233

$ 201

[1]	(1) Excludes D&A.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 82	$ 5	$ 164	$ 32
Foreign currency translation (loss) gain, net of tax	(1)	37	(30)	50
Derivative financial instruments unrealized gain, net of tax	0	10	6	3
Total other comprehensive (loss) income	(1)	47	(24)	53
Total comprehensive income	81	52	140	85
Less: Net income attributable to noncontrolling interest	0	6	0	11
Comprehensive income attributable to L&W	$ 81	$ 46	$ 140	$ 74

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 321	$ 425
Restricted cash	95	90
Receivables, net of allowance for credit losses of $37 and $38, respectively	575	506
Inventories	186	177
Prepaid expenses, deposits and other current assets	112	113
Total current assets	1,289	1,311
Non-current assets:
Restricted cash	6	6
Receivables, net of allowance for credit losses of $7 and $3, respectively	60	37
Property and equipment, net	269	236
Operating lease right-of-use assets	45	52
Goodwill	2,925	2,945
Intangible assets, net	529	605
Software, net	162	158
Deferred income taxes	180	142
Other assets	73	60
Total assets	5,538	5,552
Current liabilities:
Current portion of long-term debt	22	22
Accounts payable	277	241
Accrued liabilities	362	404
Income taxes payable	35	29
Total current liabilities	696	696
Deferred income taxes	19	20
Operating lease liabilities	31	39
Other long-term liabilities	157	180
Long-term debt, excluding current portion	3,849	3,852
Total liabilities	4,752	4,787
Commitments and contingencies (Note 15)
Stockholders’ equity:
Common stock, par value $0.001 per share, 199 shares authorized; 117 and 116 shares issued, respectively, and 89 and 90 shares outstanding, respectively	1	1
Additional paid-in capital	1,175	1,118
Retained earnings	844	680
Treasury stock, at cost, 28 and 26 shares, respectively	(927)	(751)
Accumulated other comprehensive loss	(307)	(283)
Total stockholders’ equity	786	765
Total liabilities and stockholders’ equity	$ 5,538	$ 5,552

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accounts Receivable, Allowance for Credit Loss, Current	$ 37	$ 38
Accounts Receivable, Allowance for Credit Loss, Noncurrent	$ 7	$ 3
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	199,000,000	199,000,000
Common Stock, Shares, Issued	117,000,000	116,000,000
Common Stock, Shares, Outstanding	89,000,000	90,000,000
Treasury Stock, Common, Shares	28,000,000	26,000,000

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions

6 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Net income

$ 164

$ 32

Adjustments to reconcile net income to net cash provided by operating activities

235

320

Changes in working capital accounts, excluding the effects of acquisition

(48)

(97)

Change in deferred income taxes and other

(39)

(36)

Net cash provided by operating activities

312

219

Cash flows from investing activities:

Capital expenditures

153

112

Other(1)

(5)

(6)

^[1]

Net cash used in investing activities

(158)

(118)

Cash flows from financing activities:

Payments on long-term debt

(5)

(11)

Payments of debt issuance and deferred financing costs

(2)

Payments on license obligations

(14)

(18)

Payments of contingent acquisition considerations

(14)

(9)

Purchase of L&W common stock

(175)

(33)

Purchase of SciPlay’s Class A common stock

(23)

Net redemptions of common stock under stock-based compensation plans and other

(40)

(11)

Net cash used in financing activities

(250)

(105)

Effect of exchange rate changes on cash, cash equivalents and restricted cash

(3)

Decrease in cash, cash equivalents and restricted cash

(99)

(3)

Cash, cash equivalents and restricted cash, beginning of period

521

967

Cash, cash equivalents and restricted cash, end of period

422

964

Supplemental cash flow information:

Cash paid for interest

146

147

Income taxes paid

Cash paid for contingent acquisition considerations included in operating activities

Supplemental non-cash transactions:

Non-cash interest expense

$ 5

[1]	(1) The six months ended June 30, 2023 include $3 million in cash used in discontinued operations.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Statement of Cash Flows [Abstract]
Cash Used in Investing Activities, Discontinued Operations	$ 3

Description of the Business and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Description of the Business and Summary of Significant Accounting Policies	Description of the Business We are a leading cross-platform global games company with a focus on content and digital markets. Our portfolio of revenue-generating activities primarily includes supplying game content and gaming machines, CMSs and table game products and services to licensed gaming entities; providing social casino and other mobile games, including casual gaming, to retail customers; and providing a comprehensive suite of digital gaming content, distribution platforms and player account management systems, as well as various other iGaming content and services. We report our results of operations in three business segments—Gaming, SciPlay and iGaming—representing our different products and services. Basis of Presentation and Principles of Consolidation The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. GAAP and include the accounts of L&W, its wholly owned subsidiaries, and those subsidiaries in which we have a controlling financial interest. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of L&W and its management, we have made all adjustments necessary to present fairly our consolidated financial position, results of operations, comprehensive income and cash flows for the periods presented. Such adjustments are of a normal, recurring nature. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our 2023 10-K. Interim results of operations are not necessarily indicative of results of operations to be expected for a full year. Significant Accounting Policies There have been no changes to our significant accounting policies described within the Notes of our 2023 10-K. Other Income (Expense), net Other income (expense), net includes gains and losses from foreign currency transactions, interest income, earnings (losses) from equity investments and other items. Other income (expense), net for the three and six months ended June 30, 2024 primarily consisted of interest income of $5 million and $10 million, respectively. For the three and six months ended June 30, 2023, other income (expense), net primarily consisted of foreign currency transaction losses, which totaled $25 million and $38 million, respectively. Computation of Basic and Diluted Net Income (Loss) Attributable to L&W Per Share Basic and diluted net income (loss) attributable to L&W per share are based upon net income (loss) attributable to L&W divided by the weighted average number of common shares outstanding during the period. Diluted net income attributable to L&W per share reflects the effect of the assumed exercise of stock options and RSUs only in the periods in which such effect would have been dilutive to net income. For the three and six months ended June 30, 2024, we included 2 million and 2 million, respectively, of common stock equivalents in the calculation of diluted net income attributable to L&W per share. For the six months ended June 30, 2023, we included 2 million of common stock equivalents in the calculation of diluted net income attributable to L&W per share. For the three months ended June 30, 2023, basic and diluted net loss attributable to L&W per share were the same, as all common stock equivalents would have been anti-dilutive for that period. We excluded 2 million of stock options and 2 million of RSUs outstanding from the calculation of diluted weighted-average common shares outstanding for the three months ended June 30, 2023. New Accounting Guidance There have been no recent accounting pronouncements or changes in accounting pronouncements since those described within the Notes of our 2023 10-K that are expected to have a material impact on our consolidated financial statements.

Revenue Recognition

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue Recognition

The following table disaggregates our revenues by type within each of our business segments:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Gaming
Gaming operations	$	175	$	167	$	340	$	327
Gaming machine sales	228		173		433		331
Gaming systems	82		72		142		127
Table products	54		59		101		105
Total	$	539	$	471	$	1,016	$	890
SciPlay
Mobile in-app purchases	$	160	$	170	$	330	$	335
Web in-app purchases and other(1)	45		20		81		41
Total	$	205	$	190	$	411	$	376
iGaming	$	74	$	70	$	148	$	134

(1) Other represents $24 million and $36 million in revenue generated via our proprietary direct-to-consumer platform for the three and six months ended June 30, 2024, respectively, along with advertising and other revenue, which were not material for the periods presented.

Contract Liabilities and Other Disclosures

The following table summarizes the activity in our contract liabilities for the reporting period:


	Six Months Ended June 30, 2024
Contract liability balance, beginning of period(1)	$	27
Liabilities recognized during the period	14
Amounts recognized in revenue from beginning balance	(16)
Contract liability balance, end of period(1)	$	25
(1) Contract liabilities are included within Accrued liabilities and Other long-term liabilities in our consolidated balance sheets.


	Receivables		Contract Assets(1)
Beginning of period balance	$	543	$	24
End of period balance, June 30, 2024	635		26


(1) Contract assets are included primarily within Prepaid expenses, deposits and other current assets in our consolidated balance sheets.

Business Segments

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Business Segments

below table. The accounting policies for our business segments are the same as those described within the Notes in our 2023 10-K. The following tables present our segment information:


	Three Months Ended June 30, 2024
	Gaming		SciPlay		iGaming		Unallocated and Reconciling Items(1)		Total
Total revenue	$	539	$	205	$	74	$	—	$	818
AEBITDA(2)	272		70		24		(36)		$	330
Reconciling items to net income before income taxes:
D&A	(63)		(6)		(13)		(5)		(87)

Restructuring and other	(1)		—		1		(34)		(34)

Interest expense							(75)		(75)


Other income, net							5		5
Stock-based compensation							(31)		(31)
Net income before income taxes									$	108


(1) Includes amounts not allocated to the business segments (including corporate costs) and items to reconcile the total business segments AEBITDA to our consolidated net income before income taxes.
(2) AEBITDA is reconciled to net income before income taxes with the following adjustments, as applicable: (1) depreciation and amortization expense and impairment charges (including goodwill impairments); (2) restructuring and other, which includes charges or expenses attributable to: (i) employee severance; (ii) management restructuring and related costs; (iii) restructuring and integration; (iv) cost savings initiatives; (v) major litigation; and (vi) acquisition- and disposition-related costs and other unusual items; (3) interest expense; (4) gain (loss) on debt refinancing transactions; (5) change in fair value of investments and remeasurement of debt and other; (6) other income (expense), net, including foreign currency gains or losses and earnings from equity investments; and (7) stock-based compensation. AEBITDA is presented as our primary segment measure of profit or loss.


	Three Months Ended June 30, 2023
	Gaming		SciPlay		iGaming		Unallocated and Reconciling Items(1)		Total
Total revenue	$	471	$	190	$	70	$	—	$	731
AEBITDA(2)	233		59		24		(35)		$	281
Reconciling items to net income before income taxes:
D&A	(79)		(11)		(12)		(6)		(108)

Restructuring and other	(3)		(2)		(9)		(17)		(31)

Interest expense							(78)		(78)


Other expense, net							(16)		(16)
Stock-based compensation							(28)		(28)
Net income before income taxes									$	20


(1) Includes amounts not allocated to the business segments (including corporate costs) and items to reconcile the total business segments AEBITDA to our consolidated net income before income taxes.
(2) AEBITDA is described in footnote (2) to the first table in this Note 3.


	Six Months Ended June 30, 2024
	Gaming		SciPlay		iGaming		Unallocated and Reconciling Items(1)		Total
Total revenue	$	1,016	$	411	$	148	$	—	$	1,575
AEBITDA(2)	504		132		48		(74)		$	610
Reconciling items to net income before income taxes:
D&A	(123)		(13)		(26)		(11)		(173)

Restructuring and other	(1)		—		(2)		(37)		(40)

Interest expense							(150)		(150)


Other income, net							14		14
Stock-based compensation							(53)		(53)
Net income before income taxes									$	208


(1) Includes amounts not allocated to the business segments (including corporate costs) and items to reconcile the total business segments AEBITDA to our consolidated net income before income taxes.
(2) AEBITDA is described in footnote (2) to the first table in this Note 3.


	Six Months Ended June 30, 2023
	Gaming		SciPlay		iGaming		Unallocated and Reconciling Items(1)		Total
Total revenue	$	890	$	376	$	134	$	—	$	1,400
AEBITDA(2)	438		113		47		(69)		$	529
Reconciling items to net income before income taxes:
D&A	(156)		(17)		(24)		(11)		(208)
Restructuring and other	(11)		(3)		(10)		(26)		(50)
Interest expense							(153)		(153)


Other expense, net							(18)		(18)
Stock-based compensation							(54)		(54)
Net income before income taxes									$	46



(1) Includes amounts not allocated to the business segments (including corporate costs) and items to reconcile the total business segments AEBITDA to our consolidated net income before income taxes.
(2) AEBITDA is described in footnote (2) to the first table in this Note 3.

Restructuring and Other

6 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Accounts and Nontrade Receivable


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Employee severance and related	$	—	$	4	$	1	$	13
Legal and related	32		—		32		—
Strategic review and related(1)	—		14		1		18
Contingent acquisition consideration(2)	(1)		9		—		9

Restructuring, integration and other	3		4		6		10
Total	$	34	$	31	$	40	$	50
(1) Includes costs associated with the SciPlay merger, ASX listing, sale of discontinued operations (including ongoing separation activities), rebranding and related activities. Refer to the Notes in our 2023 10-K for more information regarding these activities.
(2) Represents contingent consideration fair value adjustments (see Note 11).

Accounts Receivable and Notes Receivable and Credit Quality of Receivables

6 Months Ended

Jun. 30, 2024

Receivables [Abstract]

Receivables

The following table summarizes the components of current and long-term receivables, net:


	As of
	June 30, 2024		December 31, 2023
Current:
Receivables	$	612	$	544
Allowance for credit losses	(37)		(38)
Current receivables, net	575		506
Long-term:
Receivables	67		40
Allowance for credit losses	(7)		(3)
Long-term receivables, net	60		37
Total receivables, net	$	635	$	543

Allowance for Credit Losses

We manage our receivable portfolios using both geography and delinquency as key credit quality indicators. The following table summarizes geographical delinquencies of total receivables, net:


	As of
	June 30, 2024		Balances over 90 days past due		December 31, 2023		Balances over 90 days past due
Receivables:
U.S. and Canada	$	354	$	4	$	344	$	13
International	325		42		240		50
Total receivables	679		46		584		63
Receivables allowance:
U.S. and Canada	(19)		(4)		(17)		(3)
International	(25)		(12)		(24)		(12)
Total receivables allowance	(44)		(16)		(41)		(15)
Receivables, net	$	635	$	30	$	543	$	48

Account balances are charged against the allowances after all internal and external collection efforts have been exhausted and the potential for recovery is considered remote.

The activity in our allowance for receivable credit losses for each of the three and six months ended June 30, 2024 and 2023 is as follows:


	2024						2023
	Total		U.S. and Canada		International		Total
Beginning allowance for credit losses	$	(41)	$	(17)	$	(24)	$	(40)









Provision	(1)		—		(1)		(1)
Charge-offs and recoveries	2		1		1		1
Allowance for credit losses as of March 31	$	(40)	$	(16)	$	(24)	$	(40)
Provision	(6)		(3)		(3)		(4)
Charge-offs and recoveries	2		—		2		2
Allowance for credit losses as of June 30	$	(44)	$	(19)	$	(25)	$	(42)

As of June 30, 2024, 5% of our total receivables, net, were past due by over 90 days, compared to 9% as of December 31, 2023.

Credit Quality of Receivables


	As of June 30, 2024
	Total		Current		Balances over 90 days past due
Receivables	$	59	$	45	$	14
Allowance for credit losses	(18)		(11)		(7)
Receivables, net	$	41	$	34	$	7

Inventories

6 Months Ended

Jun. 30, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories consisted of the following:


	As of
	June 30, 2024		December 31, 2023
Parts and work-in-process	$	120	$	113
Finished goods	66		64
Total inventories	$	186	$	177

Parts and work-in-process include parts for gaming machines and our finished goods inventory primarily consist of gaming machines for sale.

Property and Equipment, net

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment, net

Property and equipment, net consisted of the following:


	As of
	June 30, 2024		December 31, 2023
Land	$	6	$	6
Buildings and leasehold improvements	61		59
Gaming machinery and equipment	764		718
Furniture and fixtures	28		26
Construction in progress	12		7
Other property and equipment	99		94
Less: accumulated depreciation	(701)		(674)
Total property and equipment, net	$	269	$	236

Depreciation expense is excluded from cost of services, cost of products and other operating expenses and is separately presented within D&A.


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Depreciation expense	$	32	$	30	$	63	$	57

Intangible Assets, net and Goodwill

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, net and Goodwill

Intangible Assets, net

The following tables present certain information regarding our intangible assets as of June 30, 2024 and December 31, 2023.


	As of
	June 30, 2024						December 31, 2023
	Gross Carrying Value		Accumulated Amortization		Net Balance			Gross Carrying Value		Accumulated Amortization		Net Balance
Amortizable intangible assets:
Customer relationships	$	902	$	(597)	$	305		$	904	$	(567)	$	337
Intellectual property	940		(791)		149			947		(771)		176
Licenses	291		(230)		61			290		(217)		73
Brand names	130		(124)		6			129		(120)		9
Trade names	163		(159)		4			163		(157)		6
Patents and other	11		(7)		4			11		(7)		4
Total intangible assets	$	2,437	$	(1,908)	$	529		$	2,444	$	(1,839)	$	605

The following reflects intangible amortization expense included within D&A:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Amortization expense(1)	$	38	$	61	$	75	$	119
(1) The three and six months ended June 30, 2023 include intangible assets non-cash impairment charge of $4 million related to SciPlay restructuring of a certain foreign studio.

Goodwill

The table below reconciles the change in the carrying value of goodwill, by business segment, for the period from December 31, 2023 to June 30, 2024.


	Gaming(1)		SciPlay		iGaming		Totals
Balance as of December 31, 2023	$	2,388	$	210	$	347	$	2,945


Foreign currency adjustments	(8)		(2)		(10)		(20)
Balance as of June 30, 2024	$	2,380	$	208	$	337	$	2,925





(1) Accumulated goodwill impairment charges for the Gaming segment as of June 30, 2024 were $989 million.

Software, net

6 Months Ended

Jun. 30, 2024

Research and Development [Abstract]

Software, net

Software, net consisted of the following:


	As of
	June 30, 2024		December 31, 2023
Software	$	1,109	$	1,083
Accumulated amortization	(947)		(925)
Software, net	$	162	$	158

The following reflects amortization of software included within D&A:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Amortization expense	$	17	$	17	$	35	$	32

Long-Term Debt

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Long-Term and Other Debt

The following table reflects our outstanding debt (in order of priority and maturity):


	As of
	June 30, 2024								December 31, 2023
	Final Maturity	Rate(s)	Face Value		Unamortized debt discount/premium and deferred financing costs, net		Book Value		Book Value
Senior Secured Credit Facilities:
LNWI Revolver	2027	variable	$	—	$	—	$	—	$	—
LNWI Term Loan B	2029	variable	2,162		(25)		2,137		2,141
LNWI Senior Notes:
2028 Unsecured Notes	2028	7.000%	700		(6)		694		694
2029 Unsecured Notes	2029	7.250%	500		(5)		495		495
2031 Unsecured Notes	2031	7.500%	550		(7)		543		543
Other	—	—	2		—		2		1
Total long-term debt outstanding			$	3,914	$	(43)	$	3,871	$	3,874
Less: current portion of long-term debt							(22)		(22)
Long-term debt, excluding current portion							$	3,849	$	3,852
Fair value of debt(1)			$	3,940





(1) Fair value of our fixed rate and variable interest rate debt is classified within Level 2 in the fair value hierarchy and has been calculated based on the quoted market prices of our securities.

LNWI Term Loan B Repricing

For additional information regarding the terms of our credit facilities and Senior Notes, see Note 15 in our 2023 10-K.

Fair Value of Measurements

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

Derivative Financial Instruments

As of June 30, 2024, we held the following derivative instruments that were accounted for pursuant to ASC 815:

Interest Rate Swap Contracts

We use interest rate swap contracts as described below to manage exposure to interest rate fluctuations by reducing the uncertainty of future cash flows on a portion of our variable rate debt.

The following table shows the gain and interest income on our interest rate swap contracts:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Gain recorded in accumulated other comprehensive loss, net of tax	$	—	$	10	$	6	$	3
Interest income related to interest rate swap contracts recorded in interest expense	5		4		9		7

We do not expect to reclassify material amounts from accumulated other comprehensive loss to interest expense in the next twelve months.

The following table shows the effect of interest rate swap contracts designated as cash flow hedges on interest expense in the consolidated statements of income:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Total interest expense which reflects the effects of cash flow hedges	$	(75)	$	(78)	$	(150)	$	(153)
Hedged item	(5)		(5)		(10)		(10)
Derivative designated as hedging instrument	10		9		19		17

The following table shows the fair value of our hedges:


		As of
	Balance Sheet Line Item	June 30, 2024		December 31, 2023

Interest rate swaps	Other assets	$	28	$	20

Contingent Acquisition Consideration Liabilities

The table below reconciles the change in the contingent acquisition consideration liabilities (including deferred purchase price) for the period from December 31, 2023 to June 30, 2024.


	Total		Included in Accrued Liabilities		Included in Other Long-Term Liabilities
Balance as of December 31, 2023	$	59	$	39	$	20

Payments	(37)
Fair value adjustments	—
Other adjustments(1)	(5)
Balance as of June 30, 2024	$	17	$	10	$	7

(1) Represents extinguishment of $5 million in redeemable non-controlling interest liability associated with SciPlay’s acquisition of Alictus Yazilim Anonim Şirketi in 2022, as specified financial targets for the second year were not met. The gain was recorded in other income (expense), net in our consolidated statements of income.

Stockholders' Equity

6 Months Ended

Jun. 30, 2024

Stockholders' Equity Note [Abstract]

Stockholders' Deficit

Changes in Stockholders’ Equity

The following tables present certain information regarding our stockholders’ equity as of June 30, 2024 and 2023:


	Six Months Ended June 30, 2024
	Common Stock		Additional Paid in Capital		Retained Earnings		Treasury Stock		Accumulated Other Comprehensive Loss		Total
January 1, 2024	$	1	$	1,118	$	680	$	(751)	$	(283)	$	765
Settlement of liability awards	—		65		—		—		—		65
Vesting of RSUs, net of tax withholdings and other	—		(43)		—		—		—		(43)
Purchase of treasury stock	—		—		—		(25)		—		(25)

Stock-based compensation	—		14		—		—		—		14
Net income	—		—		82		—		—		82
Other comprehensive loss	—		—		—		—		(23)		(23)
March 31, 2024	$	1	$	1,154	$	762	$	(776)	$	(306)	$	835
Vesting of RSUs, net of tax withholdings and other	—		1		—		—		—		1
Purchase of treasury stock	—		—		—		(151)		—		(151)

Stock-based compensation	—		20		—		—		—		20
Net income	—		—		82		—		—		82
Other comprehensive income	—		—		—		—		(1)		(1)
June 30, 2024	$	1	$	1,175	$	844	$	(927)	$	(307)	$	786


	Six Months Ended June 30, 2023
	Common Stock		Additional Paid in Capital		Retained Earnings		Treasury Stock		Accumulated Other Comprehensive Loss		Noncontrolling Interest		Total
January 1, 2023	$	1	$	1,370	$	517	$	(580)	$	(318)	$	171	$	1,161
Settlement of liability awards	—		25		—		—		—		—		25
Vesting of RSUs, net of tax withholdings and other	—		(14)		—		—		—		—		(14)
Purchase of treasury stock	—		—		—		(28)		—		—		(28)
Purchase of SciPlay’s Class A common stock	—		(8)		—		—		—		—		(8)
Stock-based compensation	—		15		—		—		—		—		15
Net income	—		—		22		—		—		5		27
Other comprehensive income	—		—		—		—		6		—		6

March 31, 2023	$	1	$	1,388	$	539	$	(608)	$	(312)	$	176	$	1,184
Vesting of RSUs, net of tax withholdings and other	—		1		—		—		—		—		1
Purchase of treasury stock	—		—		—		(5)		—		—		(5)
Purchase of SciPlay’s Class A common stock	—		(15)		—		—		—		—		(15)
Stock-based compensation	—		13		—		—		—		—		13
Net (loss) income	—		—		(1)		—		—		6		5
Other comprehensive income	—		—		—		—		47		—		47
June 30, 2023	$	1	$	1,387	$	538	$	(613)	$	(265)	$	182	$	1,230

Stock-based Compensation

The following reflects total stock-based compensation expense recognized under all programs:


	Three Months Ended June 30,			Six Months Ended June 30,
		2024		2023		2024		2023



Related to L&W RSUs		$	31	$	21	$	53	$	40
Related to SciPlay RSUs		—		7		—		14
Total(1)		$	31	$	28	$	53	$	54


(1) Includes $11 million and $19 million of stock-based compensation classified as liability awards for the three and six months ended June 30, 2024, respectively, and $15 million and $26 million for the three and six months ended June 30, 2023, respectively.

Restricted Stock Units

A summary of the changes in RSUs outstanding under our equity-based compensation plans during the six months ended June 30, 2024 is presented below:


	Number of Restricted Stock Units	Weighted Average Grant Date Fair Value
Unvested RSUs as of December 31, 2023	2.3	$	55.53
Granted	1.4	$	99.57
Vested	(1.3)	$	72.70
Cancelled	(0.1)	$	56.12
Unvested RSUs as of June 30, 2024	2.3	$	71.90

Share Repurchase Program

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	We consider new evidence (both positive and negative) at each reporting date that could affect our view of the future realization of deferred tax assets. We evaluate information such as historical financial results, historical taxable income, projected future taxable income, expected timing of the reversals of existing temporary differences and available prudent and feasible tax planning strategies in our analysis. Based on the available evidence, valuation allowances in certain U.S. and non-U.S. jurisdictions remain consistent as of June 30, 2024. Our income tax expense (including discrete items) was $26 million and $44 million for the three and six months ended June 30, 2024, respectively, and $15 million and $14 million for the three and six months ended June 30, 2023, respectively. For the three months ended June 30, 2024, our effective tax rate differs from the U.S. statutory rate of 21% primarily as a result of tax benefits related to equity compensation. In all periods, we recorded tax expense relative to pre-tax earnings in jurisdictions without valuation allowances. During the second quarter of 2024, the Company was notified by the Internal Revenue Service that the Company’s U.S. federal income tax returns for tax years 2021 and 2022 will be subject to examination.

Leases and Other Commitments

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases

Supplemental balance sheet and cash flow information related to operating leases is as follows:


	As of
	June 30, 2024			December 31, 2023
Operating lease right-of-use assets	$	45		$	52
Accrued liabilities	18			19
Operating lease liabilities	31			39
Total operating lease liabilities	$	49		$	58


Weighted average remaining lease term, years	3			4
Weighted average discount rate	6		%	6		%


	Six Months Ended June 30,
	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	11	$	10
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases	$	2	$	—

Lease liability maturities:


	Remainder of 2024		2025		2026		2027		2028		Thereafter		Less Imputed Interest		Total
Operating leases	$	11	$	18	$	13	$	8	$	4	$	—	$	(5)	$	49

As of June 30, 2024, we did not have material additional operating leases that have not yet commenced.

Litigation	6 Months Ended
Litigation	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Litigation	We are involved in various legal proceedings, including those discussed below. We record an accrual for legal contingencies when it is both probable that a liability has been incurred and the amount or range of the loss can be reasonably estimated (although, as discussed below, there may be an exposure to loss in excess of the accrued liability). We evaluate our accruals for legal contingencies at least quarterly and, as appropriate, establish new accruals or adjust existing accruals to reflect (1) the facts and circumstances known to us at the time, including information regarding negotiations, settlements, rulings and other relevant events and developments, (2) the advice and analyses of counsel and (3) the assumptions and judgment of management. Legal costs associated with our legal proceedings are expensed as incurred. We had accrued liabilities of $43 million and $12 million for all of our legal matters that were contingencies as of June 30, 2024 and December 31, 2023, respectively. Substantially all of our legal contingencies are subject to significant uncertainties and, therefore, determining the likelihood of a loss and/or the measurement of any loss involves a series of complex judgments about future events. Consequently, the ultimate outcomes of our legal contingencies could result in losses in excess of amounts we have accrued. We may be unable to estimate a range of possible losses for some matters pending against us or our subsidiaries, even when the amount of damages claimed against us or our subsidiaries is stated because, among other things: (1) the claimed amount may be exaggerated or unsupported; (2) the claim may be based on a novel legal theory or involve a large number of parties; (3) there may be uncertainty as to the likelihood of a class being certified or the ultimate size of the class; (4) there may be uncertainty as to the outcome of pending appeals or motions; (5) the matter may not have progressed sufficiently through discovery or there may be significant factual or legal issues to be resolved or developed; and/or (6) there may be uncertainty as to the enforceability of legal judgments and outcomes in certain jurisdictions. Other matters have progressed sufficiently that we are able to estimate a range of possible loss. For those legal contingencies disclosed below, and those related to the previously disclosed settlement agreement entered into in February 2015 with SNAI S.p.a. (“SNAI”), as to which a loss is reasonably possible, whether in excess of a related accrued liability or where there is no accrued liability, and for which we are able to estimate a range of possible loss, the current estimated range is up to approximately $13 million in excess of the accrued liabilities (if any) related to those legal contingencies. This aggregate range represents management’s estimate of additional possible loss in excess of the accrued liabilities (if any) with respect to these matters based on currently available information, including any damages claimed by the plaintiffs, and is subject to significant judgment and a variety of assumptions and inherent uncertainties. For example, at the time of making an estimate, management may have only preliminary, incomplete, or inaccurate information about the facts underlying a claim; its assumptions about the future rulings of the court or other tribunal on significant issues, or the behavior and incentives of adverse parties, regulators, indemnitors or co‑defendants, may prove to be wrong; and the outcomes it is attempting to predict are often not amenable to the use of statistical or other quantitative analytical tools. In addition, from time to time an outcome may occur that management had not accounted for in its estimate because it had considered that outcome to be remote. Furthermore, as noted above, the aggregate range does not include any matters for which we are not able to estimate a range of possible loss. Accordingly, the estimated aggregate range of possible loss does not represent our maximum loss exposure. Any such losses could have a material adverse impact on our results of operations, cash flows or financial condition. The legal proceedings underlying the estimated range will change from time to time, and actual results may vary significantly from the current estimate. Colombia Litigation Our subsidiary, LNWI, owned a minority interest in Wintech de Colombia S.A., or Wintech (now liquidated), which formerly operated the Colombian national lottery under a contract with Empresa Colombiana de Recursos para la Salud, S.A. (together with its successors, “Ecosalud”), an agency of the Colombian government. The contract provided for a penalty against Wintech, LNWI and the other shareholders of Wintech of up to $5 million if certain levels of lottery sales were not achieved. In addition, LNWI delivered to Ecosalud a $4 million surety bond as a further guarantee of performance under the contract. Wintech started the instant lottery in Colombia but, due to difficulties beyond its control, including, among other factors, social and political unrest in Colombia, frequently interrupted telephone service and power outages, and competition from another lottery being operated in a province of Colombia that we believe was in violation of Wintech’s exclusive license from Ecosalud, the projected sales level was not met for the year ended June 30, 1993. In 1993, Ecosalud issued a resolution declaring that the contract was in default. In 1994, Ecosalud issued a liquidation resolution asserting claims for compensation and damages against Wintech, LNWI and other shareholders of Wintech for, among other things, realization of the full amount of the penalty, plus interest, and the amount of the bond. LNWI filed separate actions opposing each resolution with the Tribunal Contencioso of Cundinamarca in Colombia (the “Tribunal”), which upheld both resolutions. LNWI appealed each decision to the Council of State. In May 2012, the Council of State upheld the contract default resolution, which decision was notified to us in August 2012. In October 2013, the Council of State upheld the liquidation resolution, which decision was notified to us in December 2013. In July 1996, Ecosalud filed a lawsuit against LNWI in the U.S. District Court for the Northern District of Georgia asserting many of the same claims asserted in the Colombia proceedings, including breach of contract, and seeking damages. In March 1997, the District Court dismissed Ecosalud’s claims. Ecosalud appealed the decision to the U.S. Court of Appeals for the Eleventh Circuit. The Court of Appeals affirmed the District Court’s decision in 1998. In June 1999, Ecosalud filed a collection proceeding against LNWI to enforce the liquidation resolution and recover the claimed damages. In May 2013, the Tribunal denied LNWI’s merit defenses to the collection proceeding and issued an order of payment of approximately 90 billion Colombian pesos, or approximately $30 million, plus default interest (potentially accrued since 1994 at a 12% statutory interest rate). LNWI filed an appeal to the Council of State, and on December 10, 2020, the Council of State issued a ruling affirming the Tribunal’s decision. On December 16, 2020, LNWI filed a motion for clarification of the Council of State’s ruling, which was denied on April 15, 2021. On April 22, 2021, LNWI filed a motion for reconsideration relating to that decision, which the Council of State denied on February 21, 2022. On May 24, 2022, the case was transferred from the Council of State to the Tribunal for further proceedings. On August 18, 2022, LNWI filed a constitutional challenge to the Council of State’s December 10, 2020 decision with that court, which was denied on October 7, 2022. On December 7, 2022, LNWI filed an appeal with the Council of State from the denial of the constitutional challenge, which was denied on May 24, 2023. On June 28, 2023, the Colombian Constitutional Court received the record of the constitutional appeal for further consideration, and on September 26, 2023, that court selected LNWI’s constitutional appeal for further consideration. On April 25, 2024, LNWI was notified that, by means of a decision dated April 5, 2024, a three-judge panel of the Colombian Constitutional Court denied LNWI’s constitutional appeal. On April 30, 2024, LNWI filed a motion to have that panel ruling declared null and void by the full Chamber of the Colombian Constitutional Court. LNWI believes it has various defenses, including on the merits, against Ecosalud’s claims. Although we believe these claims will not result in a material adverse effect on our consolidated results of operations, cash flows or financial position, it is not feasible to predict the final outcome, and we cannot assure that these claims will not ultimately be resolved adversely to us or result in material liability. TCS John Huxley Matter On March 15, 2019, TCS John Huxley America, Inc., TCS John Huxley Europe Ltd., TCS John Huxley Asia Ltd., and Taiwan Fulgent Enterprise Co., Ltd. brought a civil action in the United States District Court for the Northern District of Illinois against L&W, Bally Technologies, Inc. and LNW Gaming, Inc., f/k/a Bally Gaming, Inc. In the complaint, the plaintiffs assert federal antitrust claims arising from the defendants’ procurement of particular U.S. and South African patents. The plaintiffs allege that the defendants used those patents to create an allegedly illegal monopoly in the market for automatic card shufflers sold to regulated casinos in the United States. On April 10, 2019, the defendants filed a motion to dismiss the plaintiffs’ complaint with prejudice. On April 25, 2019, the district court denied the defendants’ motion to dismiss without prejudice pursuant to the court’s local rules, after the plaintiffs advised that they intended to file an amended complaint. The plaintiffs filed their amended complaint on May 3, 2019, and on May 22, 2019, the defendants filed a motion to dismiss the plaintiffs’ amended complaint with prejudice. On March 20, 2020, the district court denied the defendants’ motion to dismiss the plaintiffs’ amended complaint, and defendants filed an answer to the plaintiffs’ amended complaint on June 19, 2020. On June 3, 2020, the trial court granted the defendants’ request to bifurcate proceedings in the case, with discovery to occur first into the statute of limitations and release defenses asserted by the defendants in their motion to dismiss, before proceeding into broader discovery. The trial court set a September 18, 2020, deadline for the parties to complete discovery relating to the statute of limitations and release defenses. On October 28, 2020, the court issued an order extending until January 15, 2021 the deadline for the parties to complete discovery relating to the statute of limitations defense. On February 9, 2021, the defendants filed a motion for summary judgment on their statute of limitations defense, addressing whether plaintiffs had actual knowledge of their claims prior to the start of the limitations period. The district court denied that motion for summary judgment on September 20, 2021. On January 13, 2023, the district court entered an order requiring, among other things, that the plaintiffs make a formal written settlement demand by January 20, 2023, that the defendants respond to that demand in writing by January 27, 2023, and that the parties file a status report by January 31, 2023 confirming that they have complied with the district court’s order. On January 31, 2023, the parties filed a joint status report confirming that they have complied with the district court’s order to make and respond to a formal written demand. Discovery closed on June 1, 2023. On June 30, 2023, the defendants filed a motion for summary judgment. On March 28, 2024, the court issued an order granting in part and denying in part defendants’ motion for summary judgment. On April 30, 2024, the court issued an order setting the matter for a jury trial starting on May 5, 2025. Due to the complexity of the plaintiffs’ claims, and the unpredictability of the outcome of the proceedings in the district court, or any appeal therefrom, we are unable at this time to estimate a range of reasonably possible losses, or any amount within such a range, above the amount we have recorded for this matter, which is the minimum amount of reasonably possible loss. Tonkawa Tribe Matter On September 3, 2020, the Tonkawa Tribe of Indians of Oklahoma d/b/a Tonkawa Enterprises filed a putative class action complaint in the United States District Court for the District of Nevada against L&W, Bally Technologies, Inc. and LNW Gaming, Inc., f/k/a Bally Gaming, Inc. On October 5, 2020, the plaintiff filed a first amended complaint to add Cow Creek Band of Umpqua Tribe of Indians and the Umpqua Indian Development Corp., d/b/a Seven Feathers Casino as a plaintiff. On October 26, 2020, the plaintiffs filed a second amended complaint. In the complaint, the plaintiffs assert federal antitrust claims arising from the defendants’ procurement of particular U.S. patents. The plaintiffs allege that the defendants used those patents to create an allegedly illegal monopoly in the market for card shufflers sold or leased to regulated casinos in the United States. The plaintiffs seek to represent a putative class of all regulated United States casinos directly leasing or purchasing card shufflers from the defendants on or after April 1, 2009. The complaint seeks unspecified money damages, the award of plaintiff’s costs of suit, including reasonable attorneys’ fees and expert fees, and the award of pre-judgment and post-judgment interest. On November 19, 2020, the defendants filed a motion to dismiss plaintiffs’ second amended complaint or, in the alternative, to compel arbitration of plaintiffs’ claims. On November 20, 2020, Plaintiffs filed a motion for partial summary judgment, seeking a finding that defendants are collaterally estopped from re-litigating issues litigated in the 2018 litigation versus Shuffle Tech International Corp., Aces Up Gaming, and Poydras-Talrick Holdings. On August 27, 2021, the Nevada district court entered an order transferring the lawsuit to the United States District Court for the Northern District of Illinois. On May 19, 2022, the Illinois district court granted defendants’ motion to compel arbitration of plaintiffs’ individual claims; stayed all proceedings in the lawsuit pending resolution of the arbitral process; and accordingly dismissed all pending motions without prejudice as moot. We are currently unable to determine the likelihood of an outcome or estimate a range of reasonably possible losses, if any. We believe that the claims in the lawsuit are without merit, and intend to vigorously defend against them. Giuliano and Rancho’s Club Casino Matter On September 4, 2020, Alfred T. Giuliano, as liquidation trustee for RIH Acquisition NJ, LLC d/b/a The Atlantic Club Casino Hotel filed a putative class action complaint in the United States District Court for the Northern District of Illinois against L&W, Bally Technologies, Inc. and LNW Gaming, Inc., f/k/a Bally Gaming, Inc. In the complaint, the plaintiffs assert federal antitrust claims arising from the defendants’ procurement of particular U.S. patents. The plaintiffs allege that the defendants used those patents to create an allegedly illegal monopoly in the market for automatic card shufflers sold or leased in the United States. The plaintiffs seek to represent a putative class of all persons and entities that directly purchased or leased automatic card shufflers within the United States from the Defendants, or any predecessor, subsidiary, or affiliate thereof, at any time between April 1, 2009, and the present. The complaint seeks unspecified money damages, which the complaint asks the court to treble, the award of plaintiff’s costs of suit, including attorneys’ fees, and the award of pre-judgment and post-judgment interest. On September 8, 2020, Rancho’s Club Casino, Inc., d/b/a Magnolia House Casino filed a putative class action complaint in the United States District Court for the Northern District of Illinois against L&W, Bally Technologies, Inc. and LNW Gaming, Inc., f/k/a Bally Gaming, Inc. In the complaint, the plaintiff asserts federal antitrust claims arising from the defendants’ procurement of particular U.S. patents. The plaintiff alleges that the defendants used those patents to create an allegedly illegal monopoly in the market for automatic card shufflers sold or leased in the United States. The plaintiff seeks to represent a putative class of all persons and entities that directly purchased or leased automatic card shufflers within the United States from the defendants, or any predecessor, subsidiary, or affiliate thereof, at any time between April 1, 2009, and the present. The complaint seeks unspecified money damages, which the complaint asks the court to treble, the award of plaintiff’s costs of suit, including attorneys’ fees, and the award of pre-judgment and post-judgment interest. On October 29, 2020, the trial court consolidated the Giuliano and Rancho’s Club Casino matters. On October 30, 2020, the plaintiffs in the consolidated action filed a first amended consolidated complaint. On November 9, 2020, the defendants filed a motion to dismiss the plaintiffs’ first amended consolidated complaint, and also filed a motion to compel arbitration of plaintiff Alfred T. Giuliano’s individual claims. On May 19, 2022, the Illinois district court granted defendants’ motion to compel arbitration; stayed all proceedings in the lawsuit pending resolution of the arbitral process; and accordingly dismissed all pending motions without prejudice. On May 31, 2022, defendants filed a motion to lift the stay of the lawsuit for the limited purpose of amending the court’s May 19, 2022 order to confirm that plaintiff Alfred T. Giuliano must proceed to arbitration on an individual basis rather than a class-wide basis. On June 10, 2022, plaintiff Alfred T. Giuliano filed a notice of voluntary dismissal without prejudice, and the court therefore denied as moot defendants’ motion to lift the stay in an order entered on March 28, 2023. We are currently unable to determine the likelihood of an outcome or estimate a range of reasonably possible losses, if any. We believe that the claims in the consolidated lawsuit are without merit, and intend to vigorously defend against them. In re Automatic Card Shufflers Litigation Matter On April 2, 2021, Casino Queen, Inc. and Casino Queen Marquette, Inc. filed a putative class action complaint in the United States District Court for the Northern District of Illinois against L&W, Bally Technologies, Inc. and LNW Gaming, Inc., f/k/a Bally Gaming, Inc. In the complaint, the plaintiffs assert federal antitrust claims arising from the defendants’ procurement of particular U.S. patents. The plaintiffs allege that the defendants used those patents to create an allegedly illegal monopoly in the market for automatic card shufflers sold or leased in the United States. The plaintiffs seek to represent a putative class of all persons and entities that directly purchased or leased automatic card shufflers within the United States from the defendants, or any predecessor, subsidiary, or affiliate thereof, at any time between April 1, 2009, and the present. The complaint seeks unspecified money damages, which the complaint asks the court to treble, the award of plaintiffs’ costs of suit, including attorneys’ fees, and the award of pre-judgment and post-judgment interest. On June 11, 2021, the defendants filed a motion to dismiss plaintiffs’ complaint, which the court denied on May 19, 2022. Discovery closed on December 1, 2023. On February 16, 2024, the defendants filed a motion for summary judgment, which is pending. Also on February 16, 2024, plaintiffs filed a motion for partial summary judgment and a motion for class certification, which are pending. We are currently unable to determine the likelihood of an outcome or estimate a range of reasonably possible losses, if any. We believe that the claims in the lawsuit are without merit, and intend to vigorously defend against them. Mohawk Gaming Enterprises Matter On November 9, 2020, Mohawk Gaming Enterprises LLC, d/b/a Akwesasne Mohawk Casino Resort, filed a demand for a putative class arbitration before the American Arbitration Association against L&W, Bally Technologies, Inc. and LNW Gaming, Inc., f/k/a Bally Gaming, Inc. (“Respondents”). In the complaint, the claimant asserts federal antitrust claims arising from the respondents’ procurement of particular U.S. patents. The claimant alleges that the respondents used those patents to create an allegedly illegal monopoly in the market for automatic card shufflers sold or leased in the United States. The claimant seeks to represent a putative class of all persons and entities that directly purchased or leased automatic card shufflers within the United States from the respondents, or any predecessor, subsidiary, or affiliate thereof, at any time between April 1, 2009, and the present. The complaint seeks unspecified money damages, which the complaint asks the arbitration panel to treble, and the award of claimant’s costs of suit, including attorneys’ fees. Respondents filed their answering statement on December 9, 2020. On October 29, 2021, the claimant filed a memorandum in support of class arbitration, which Respondents opposed on December 3, 2021. On February 8, 2022, the Arbitrator issued a clause construction award, finding that the arbitration could proceed on behalf of a class or classes. On February 11, 2022, Respondents filed a petition to vacate the award in the New York Supreme Court. The Court denied Respondents’ petition on August 9, 2022, and on August 16, 2022, Respondents appealed to the New York Appellate Division, First Department, which denied Respondents’ appeal on June 22, 2023. On April 15, 2022, Respondents filed a motion to dismiss the claimant’s complaint, which the Arbitrator denied on July 26, 2022. Discovery closed on December 1, 2023. On February 16, 2024, the respondents filed a motion for summary judgment, which is pending. Also on February 16, 2024, claimant filed a motion for partial summary judgment and a motion for class certification, which are pending. We are currently unable to determine the likelihood of an outcome or estimate a range of reasonably possible losses, if any. We believe that the claims in the arbitration demand are without merit, and intend to vigorously defend against them. Boorn Matter On September 15, 2022, plaintiff Hannelore Boorn filed a putative class action against L&W, SciPlay Corporation, and Appchi Media Ltd. in the Fayette Circuit Court of the Commonwealth of Kentucky. In her complaint, plaintiff sought to represent a putative class of all persons in Kentucky who, within the past five years, purchased and allegedly lost $5.00 or more worth of virtual coins, in a 24-hour period, playing SciPlay’s online social casino games. The complaint asserted claims for alleged violations of Kentucky’s “recovery of gambling losses” statute and for unjust enrichment, and sought unspecified money damages, the award of reasonable attorneys’ fees and costs, pre- and post-judgment interest, and injunctive and/or other declaratory relief. On October 18, 2022, defendants removed the action to the United States District Court for the Eastern District of Kentucky. On October 26, 2022, plaintiff filed a notice voluntarily dismissing the lawsuit without prejudice. On October 27, 2022, the district court entered an order dismissing the lawsuit. On November 17, 2022, claimant Hannelore Boorn filed an arbitration demand against respondents L&W, SciPlay Corporation, and Appchi Media Ltd. before the American Arbitration Association, pursuant to which she seeks declaratory judgments that (1) SciPlay’s online social casino games constitute gambling under Kentucky law, and (2) SciPlay’s terms of service are void under Kentucky law. On January 12, 2023, respondents filed their answering statement to plaintiff’s arbitration demand. On February 2, 2024, claimant filed a dispositive motion seeking a ruling that SciPlay’s terms of service are void under Kentucky law and that claimant’s claims are not arbitrable. On February 2, 2024, respondents filed a motion for summary disposition seeking dismissal of claimant’s claims. On May 30, 2024, the Arbitrators granted respondents’ dispositive motion, denied claimant’s dispositive motion, and dismissed claimant’s claims with prejudice. We are currently unable to determine the likelihood of an outcome or estimate a range of reasonably possible losses, if any. We believe that the claims in the arbitration demand are without merit, and intend to vigorously defend against them. Allah Beautiful Matter On December 19, 2022, claimant Prince Imanifest Allah Beautiful filed an arbitration demand against respondent SciPlay Corporation before the American Arbitration Association. The demand asserts claims for alleged violations of New Jersey’s anti-gambling statutes and seeks unspecified money damages, including recovery of monies allegedly lost by New Jersey players of SciPlay’s online social casino games other than the claimant. On March 7, 2023, respondent filed its answering statement to claimant’s arbitration demand. On March 4, 2024, respondent filed a motion to dismiss the claimant’s arbitration demand, which the Arbitrators denied on April 24, 2024. An evidentiary hearing is scheduled for October 21-23, 2024. We are currently unable to determine the likelihood of an outcome or estimate a range of reasonably possible losses, if any. We believe that the claims in the arbitration demand are without merit, and intend to vigorously defend against them. Sprinkle Matter On December 12, 2022, claimant Matthew Sprinkle filed an arbitration demand against respondent SciPlay Corporation before the American Arbitration Association. The demand asserts claims for alleged violations of Ohio’s anti-gambling statutes and seeks unspecified money damages, including recovery of monies allegedly lost by Ohio players of SciPlay’s online social casino games other than the claimant. On March 7, 2023, respondent filed its answering statement to claimant’s arbitration demand. On March 4, 2024, respondent filed a motion to dismiss the claimant’s arbitration demand, which the Arbitrators denied on April 24, 2024. An evidentiary hearing is scheduled for October 21-23, 2024. We are currently unable to determine the likelihood of an outcome or estimate a range of reasonably possible losses, if any. We believe that the claims in the arbitration demand are without merit, and intend to vigorously defend against them. Sornberger Matter On March 8, 2023, plaintiff Andrea Sornberger filed a complaint against SciPlay Corporation and SciPlay Games, LLC in the Circuit Court of the Franklin County, Alabama. The complaint asserts claims for alleged violations of Alabama anti-gambling statutes and seeks unspecified money damages, including recovery of monies allegedly lost by Alabama players of SciPlay’s online social casino games other than the plaintiff, the award of interests and costs, and injunctive and other relief. On April 12, 2023, defendants removed the action to the United States District Court for the Northern District of Alabama. On August 24, 2023, plaintiff voluntarily dismissed her complaint without prejudice, and re-filed it in the Circuit Court of Franklin County, Alabama. On September 27, 2023, defendants removed the re-filed action to the United States District Court for the Northern District of Alabama. On October 26, 2023, plaintiff filed a motion to remand the action to the Circuit Court of Franklin County, Alabama, which is pending. We are currently unable to determine the likelihood of an outcome or estimate a range of reasonably possible losses, if any. We believe that the claims in the lawsuit are without merit, and intend to vigorously defend against them. Roberts Matter On July 25, 2023, claimant Donovan Roberts filed an arbitration demand against respondent SciPlay Corporation before the American Arbitration Association. The demand asserts claims for alleged violations of Kentucky’s anti-gambling statutes and seeks unspecified money damages, including recovery of monies allegedly lost by Kentucky players of SciPlay’s online social casino games other than the claimant. On October 6, 2023, respondent filed its answering statement to claimant’s arbitration demand. On May 30, 2024, respondent filed a motion to dismiss the claimant’s arbitration demand, which is pending. We are currently unable to determine the likelihood of an outcome or estimate a range of reasonably possible losses, if any. We believe that the claims in the arbitration demand are without merit, and intend to vigorously defend against them. Ebersole Matter On July 25, 2023, claimant Christopher Ebersole filed an arbitration demand against respondent SciPlay Corporation before the American Arbitration Association. The demand asserts claims for alleged violations of Ohio’s anti-gambling statutes and seeks unspecified money damages, including recovery of monies allegedly lost by Ohio players of SciPlay’s online social casino games other than the claimant. On October 12, 2023, respondent filed its answering statement to claimant’s arbitration demand. On April 1, 2024, respondent filed a motion to dismiss the claimant’s arbitration demand, which the Arbitrators denied on May 16, 2024. We are currently unable to determine the likelihood of an outcome or estimate a range of reasonably possible losses, if any. We believe that the claims in the arbitration demand are without merit, and intend to vigorously defend against them. Murnaghan Matter On July 25, 2023, claimant Hope Murnaghan filed an arbitration demand against respondent SciPlay Corporation before the American Arbitration Association. The demand asserts claims for alleged violations of Massachusetts’ anti-gambling statutes and seeks unspecified money damages, including recovery of monies allegedly lost by Massachusetts players of SciPlay’s online social casino games other than the claimant. On October 12, 2023, respondent filed its answering statement to claimant’s arbitration demand. On April 1, 2024, respondent filed a motion to dismiss the claimant’s arbitration demand, which the Arbitrators denied on May 16, 2024. We are currently unable to determine the likelihood of an outcome or estimate a range of reasonably possible losses, if any. We believe that the claims in the arbitration demand are without merit, and intend to vigorously defend against them. Ewing Matter On November 31, 2023, plaintiff Lauren Ewing filed a lawsuit against SciPlay Corporation and SciPlay Games LLC in the Circuit Court for the 14th Judicial District of Tennessee. The complaint asserts claims for alleged violations of Tennessee’s anti-gambling statutes and seeks unspecified money damages, including recover of monies allegedly lost by Tennessee players of SciPlay’s online social casino games. On December 15, 2023, defendants removed the action to the United States District Court for the Eastern District of Tennessee. On January 12, 2024, plaintiff filed a motion to remand the action to the Circuit Court for the 14th Judicial District of Tennessee, which is pending. On January 22, 2024, defendants filed a motion to dismiss plaintiff’s complaint and a motion to compel arbitration of plaintiff’s claims, which are pending. We are currently unable to determine the likelihood of an outcome or estimate a range of reasonably possible losses, if any. We believe that the claims in the lawsuit are without merit, and intend to vigorously defend against them. Aristocrat Matter On February 26, 2024, Aristocrat Technologies, Inc. and Aristocrat Technologies Australia Pty Limited brought a civil action in the United States District Court for the District of Nevada against L&W, LNW Gaming, Inc. and SciPlay Corporation. Plaintiffs assert claims for alleged trade secret misappropriation, copyright infringement, trade dress infringement and unfair competition, and deceptive trade practices, relating to defendants’ DRAGON TRAINTM and JEWEL OF THE DRAGON® games. Plaintiffs’ complaint seeks preliminary and permanent injunctive relief, unspecified damages, the award of reasonable attorneys’ fees and costs, pre-judgment and post-judgment interest, and declaratory relief. Simultaneously with the filing of the complaint on February 26, 2024, the plaintiffs filed a motion to expedite discovery, which the court granted in part and denied in part on March 26, 2024. On April 9, 2024, defendants filed a motion to dismiss plaintiffs’ complaint, which the court granted in part and denied in part on June 24, 2024. On May 22, 2024, the plaintiffs filed a motion for a preliminary injunction, which is pending. On July 15, 2024, the plaintiffs filed a First Amended Complaint. We are currently unable to determine the likelihood of an outcome or estimate a range of reasonably possible losses, if any. We believe that the claims in the lawsuit are without merit, and intend to vigorously defend against them.

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 82	$ (1)	$ 164	$ 21

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Description of the Business and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. GAAP and include the accounts of L&W, its wholly owned subsidiaries, and those subsidiaries in which we have a controlling financial interest. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of L&W and its management, we have made all adjustments necessary to present fairly our consolidated financial position, results of operations, comprehensive income and cash flows for the periods presented. Such adjustments are of a normal, recurring nature. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our 2023 10-K. Interim results of operations are not necessarily indicative of results of operations to be expected for a full year.
Significant Accounting Policies	Significant Accounting Policies There have been no changes to our significant accounting policies described within the Notes of our 2023 10-K.
Other Income (Expense), net	Other Income (Expense), net Other income (expense), net includes gains and losses from foreign currency transactions, interest income, earnings (losses) from equity investments and other items.
Earnings Per Share	Computation of Basic and Diluted Net Income (Loss) Attributable to L&W Per Share Basic and diluted net income (loss) attributable to L&W per share are based upon net income (loss) attributable to L&W divided by the weighted average number of common shares outstanding during the period. Diluted net income attributable to L&W per share reflects the effect of the assumed exercise of stock options and RSUs only in the periods in which such effect would have been dilutive to net income.
New Accounting Guidance	New Accounting Guidance There have been no recent accounting pronouncements or changes in accounting pronouncements since those described within the Notes of our 2023 10-K that are expected to have a material impact on our consolidated financial statements.

Revenue Recognition (Policies)	6 Months Ended
Revenue Recognition (Policies)	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	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 conversion to cash.

Business Segments (Policies)	6 Months Ended
Business Segments (Policies)	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Reporting, Policy	We report our operations in three business segments—Gaming, SciPlay and iGaming—representing our different products and services. A detailed discussion regarding the products and services from which each reportable business segment derives its revenue is included in Notes 3 and 4 in our 2023 10-K. In evaluating financial performance, our Chief Operating Decision Maker (defined as our Chief Executive Officer) focuses on AEBITDA as management’s primary segment measure of profit or loss, which is described in footnote (2) to the below table. The accounting policies for our business segments are the same as those described within the Notes in our 2023 10-K.

Income Taxes (Policies)	6 Months Ended
Income Taxes (Policies)	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Tax, Policy	We consider new evidence (both positive and negative) at each reporting date that could affect our view of the future realization of deferred tax assets. We evaluate information such as historical financial results, historical taxable income, projected future taxable income, expected timing of the reversals of existing temporary differences and available prudent and feasible tax planning strategies in our analysis. Based on the available evidence, valuation allowances in certain U.S. and non-U.S. jurisdictions remain consistent as of June 30, 2024.

Litigation (Policies)	6 Months Ended
Litigation (Policies)	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies, Policy	We are involved in various legal proceedings, including those discussed below. We record an accrual for legal contingencies when it is both probable that a liability has been incurred and the amount or range of the loss can be reasonably estimated (although, as discussed below, there may be an exposure to loss in excess of the accrued liability). We evaluate our accruals for legal contingencies at least quarterly and, as appropriate, establish new accruals or adjust existing accruals to reflect (1) the facts and circumstances known to us at the time, including information regarding negotiations, settlements, rulings and other relevant events and developments, (2) the advice and analyses of counsel and (3) the assumptions and judgment of management. Legal costs associated with our legal proceedings are expensed as incurred. We had accrued liabilities of $43 million and $12 million for all of our legal matters that were contingencies as of June 30, 2024 and December 31, 2023, respectively. Substantially all of our legal contingencies are subject to significant uncertainties and, therefore, determining the likelihood of a loss and/or the measurement of any loss involves a series of complex judgments about future events. Consequently, the ultimate outcomes of our legal contingencies could result in losses in excess of amounts we have accrued. We may be unable to estimate a range of possible losses for some matters pending against us or our subsidiaries, even when the amount of damages claimed against us or our subsidiaries is stated because, among other things: (1) the claimed amount may be exaggerated or unsupported; (2) the claim may be based on a novel legal theory or involve a large number of parties; (3) there may be uncertainty as to the likelihood of a class being certified or the ultimate size of the class; (4) there may be uncertainty as to the outcome of pending appeals or motions; (5) the matter may not have progressed sufficiently through discovery or there may be significant factual or legal issues to be resolved or developed; and/or (6) there may be uncertainty as to the enforceability of legal judgments and outcomes in certain jurisdictions. Other matters have progressed sufficiently that we are able to estimate a range of possible loss. For those legal contingencies disclosed below, and those related to the previously disclosed settlement agreement entered into in February 2015 with SNAI S.p.a. (“SNAI”), as to which a loss is reasonably possible, whether in excess of a related accrued liability or where there is no accrued liability, and for which we are able to estimate a range of possible loss, the current estimated range is up to approximately $13 million in excess of the accrued liabilities (if any) related to those legal contingencies. This aggregate range represents management’s estimate of additional possible loss in excess of the accrued liabilities (if any) with respect to these matters based on currently available information, including any damages claimed by the plaintiffs, and is subject to significant judgment and a variety of assumptions and inherent uncertainties. For example, at the time of making an estimate, management may have only preliminary, incomplete, or inaccurate information about the facts underlying a claim; its assumptions about the future rulings of the court or other tribunal on significant issues, or the behavior and incentives of adverse parties, regulators, indemnitors or co‑defendants, may prove to be wrong; and the outcomes it is attempting to predict are often not amenable to the use of statistical or other quantitative analytical tools. In addition, from time to time an outcome may occur that management had not accounted for in its estimate because it had considered that outcome to be remote. Furthermore, as noted above, the aggregate range does not include any matters for which we are not able to estimate a range of possible loss. Accordingly, the estimated aggregate range of possible loss does not represent our maximum loss exposure. Any such losses could have a material adverse impact on our results of operations, cash flows or financial condition. The legal proceedings underlying the estimated range will change from time to time, and actual results may vary significantly from the current estimate.

Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Reconciliation of Revenue from Segments to Consolidated

The following table disaggregates our revenues by type within each of our business segments:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Gaming
Gaming operations	$	175	$	167	$	340	$	327
Gaming machine sales	228		173		433		331
Gaming systems	82		72		142		127
Table products	54		59		101		105
Total	$	539	$	471	$	1,016	$	890
SciPlay
Mobile in-app purchases	$	160	$	170	$	330	$	335
Web in-app purchases and other(1)	45		20		81		41
Total	$	205	$	190	$	411	$	376
iGaming	$	74	$	70	$	148	$	134

(1) Other represents $24 million and $36 million in revenue generated via our proprietary direct-to-consumer platform for the three and six months ended June 30, 2024, respectively, along with advertising and other revenue, which were not material for the periods presented.

Contract with Customer, Contract Asset, Contract Liability, and Receivable

The following table summarizes the activity in our contract liabilities for the reporting period:


	Six Months Ended June 30, 2024
Contract liability balance, beginning of period(1)	$	27
Liabilities recognized during the period	14
Amounts recognized in revenue from beginning balance	(16)
Contract liability balance, end of period(1)	$	25
(1) Contract liabilities are included within Accrued liabilities and Other long-term liabilities in our consolidated balance sheets.

The following table summarizes our balances in these accounts for the periods indicated (other than contract liabilities disclosed above):


	Receivables		Contract Assets(1)
Beginning of period balance	$	543	$	24
End of period balance, June 30, 2024	635		26


(1) Contract assets are included primarily within Prepaid expenses, deposits and other current assets in our consolidated balance sheets.

Business Segments (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Operating Information by Segment

The following tables present our segment information:


	Three Months Ended June 30, 2024
	Gaming		SciPlay		iGaming		Unallocated and Reconciling Items(1)		Total
Total revenue	$	539	$	205	$	74	$	—	$	818
AEBITDA(2)	272		70		24		(36)		$	330
Reconciling items to net income before income taxes:
D&A	(63)		(6)		(13)		(5)		(87)

Restructuring and other	(1)		—		1		(34)		(34)

Interest expense							(75)		(75)


Other income, net							5		5
Stock-based compensation							(31)		(31)
Net income before income taxes									$	108


(1) Includes amounts not allocated to the business segments (including corporate costs) and items to reconcile the total business segments AEBITDA to our consolidated net income before income taxes.
(2) AEBITDA is reconciled to net income before income taxes with the following adjustments, as applicable: (1) depreciation and amortization expense and impairment charges (including goodwill impairments); (2) restructuring and other, which includes charges or expenses attributable to: (i) employee severance; (ii) management restructuring and related costs; (iii) restructuring and integration; (iv) cost savings initiatives; (v) major litigation; and (vi) acquisition- and disposition-related costs and other unusual items; (3) interest expense; (4) gain (loss) on debt refinancing transactions; (5) change in fair value of investments and remeasurement of debt and other; (6) other income (expense), net, including foreign currency gains or losses and earnings from equity investments; and (7) stock-based compensation. AEBITDA is presented as our primary segment measure of profit or loss.


	Three Months Ended June 30, 2023
	Gaming		SciPlay		iGaming		Unallocated and Reconciling Items(1)		Total
Total revenue	$	471	$	190	$	70	$	—	$	731
AEBITDA(2)	233		59		24		(35)		$	281
Reconciling items to net income before income taxes:
D&A	(79)		(11)		(12)		(6)		(108)

Restructuring and other	(3)		(2)		(9)		(17)		(31)

Interest expense							(78)		(78)


Other expense, net							(16)		(16)
Stock-based compensation							(28)		(28)
Net income before income taxes									$	20


(1) Includes amounts not allocated to the business segments (including corporate costs) and items to reconcile the total business segments AEBITDA to our consolidated net income before income taxes.
(2) AEBITDA is described in footnote (2) to the first table in this Note 3.


	Six Months Ended June 30, 2024
	Gaming		SciPlay		iGaming		Unallocated and Reconciling Items(1)		Total
Total revenue	$	1,016	$	411	$	148	$	—	$	1,575
AEBITDA(2)	504		132		48		(74)		$	610
Reconciling items to net income before income taxes:
D&A	(123)		(13)		(26)		(11)		(173)

Restructuring and other	(1)		—		(2)		(37)		(40)

Interest expense							(150)		(150)


Other income, net							14		14
Stock-based compensation							(53)		(53)
Net income before income taxes									$	208


(1) Includes amounts not allocated to the business segments (including corporate costs) and items to reconcile the total business segments AEBITDA to our consolidated net income before income taxes.
(2) AEBITDA is described in footnote (2) to the first table in this Note 3.


	Six Months Ended June 30, 2023
	Gaming		SciPlay		iGaming		Unallocated and Reconciling Items(1)		Total
Total revenue	$	890	$	376	$	134	$	—	$	1,400
AEBITDA(2)	438		113		47		(69)		$	529
Reconciling items to net income before income taxes:
D&A	(156)		(17)		(24)		(11)		(208)
Restructuring and other	(11)		(3)		(10)		(26)		(50)
Interest expense							(153)		(153)


Other expense, net							(18)		(18)
Stock-based compensation							(54)		(54)
Net income before income taxes									$	46



(1) Includes amounts not allocated to the business segments (including corporate costs) and items to reconcile the total business segments AEBITDA to our consolidated net income before income taxes.
(2) AEBITDA is described in footnote (2) to the first table in this Note 3.

Restructuring and Other (Tables)

6 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Summary of Restructuring and Other Costs

The following table summarizes pre-tax restructuring and other costs for the periods presented:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Employee severance and related	$	—	$	4	$	1	$	13
Legal and related	32		—		32		—
Strategic review and related(1)	—		14		1		18
Contingent acquisition consideration(2)	(1)		9		—		9

Restructuring, integration and other	3		4		6		10
Total	$	34	$	31	$	40	$	50
(1) Includes costs associated with the SciPlay merger, ASX listing, sale of discontinued operations (including ongoing separation activities), rebranding and related activities. Refer to the Notes in our 2023 10-K for more information regarding these activities.
(2) Represents contingent consideration fair value adjustments (see Note 11).

Accounts Receivable and Notes Receivable and Credit Quality of Receivables (Tables)

6 Months Ended

Jun. 30, 2024

Receivables [Abstract]

Summary of components of current and long-term accounts and notes receivable, net

The following table summarizes the components of current and long-term receivables, net:


	As of
	June 30, 2024		December 31, 2023
Current:
Receivables	$	612	$	544
Allowance for credit losses	(37)		(38)
Current receivables, net	575		506
Long-term:
Receivables	67		40
Allowance for credit losses	(7)		(3)
Long-term receivables, net	60		37
Total receivables, net	$	635	$	543

Summary of the components of total notes receivable, net

The following table summarizes geographical delinquencies of total receivables, net:


	As of
	June 30, 2024		Balances over 90 days past due		December 31, 2023		Balances over 90 days past due
Receivables:
U.S. and Canada	$	354	$	4	$	344	$	13
International	325		42		240		50
Total receivables	679		46		584		63
Receivables allowance:
U.S. and Canada	(19)		(4)		(17)		(3)
International	(25)		(12)		(24)		(12)
Total receivables allowance	(44)		(16)		(41)		(15)
Receivables, net	$	635	$	30	$	543	$	48

Schedule of activity in allowance for notes receivable

The activity in our allowance for receivable credit losses for each of the three and six months ended June 30, 2024 and 2023 is as follows:


	2024						2023
	Total		U.S. and Canada		International		Total
Beginning allowance for credit losses	$	(41)	$	(17)	$	(24)	$	(40)









Provision	(1)		—		(1)		(1)
Charge-offs and recoveries	2		1		1		1
Allowance for credit losses as of March 31	$	(40)	$	(16)	$	(24)	$	(40)
Provision	(6)		(3)		(3)		(4)
Charge-offs and recoveries	2		—		2		2
Allowance for credit losses as of June 30	$	(44)	$	(19)	$	(25)	$	(42)

Schedule of receivables by location - Latin America

The following table summarizes our LATAM receivables:


	As of June 30, 2024
	Total		Current		Balances over 90 days past due
Receivables	$	59	$	45	$	14
Allowance for credit losses	(18)		(11)		(7)
Receivables, net	$	41	$	34	$	7

Inventories (Tables)

6 Months Ended

Jun. 30, 2024

Inventory Disclosure [Abstract]

Summary of Inventories

Inventories consisted of the following:


	As of
	June 30, 2024		December 31, 2023
Parts and work-in-process	$	120	$	113
Finished goods	66		64
Total inventories	$	186	$	177

Property and Equipment, net (Tables)

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Schedule of components of property plant and equipment

Property and equipment, net consisted of the following:


	As of
	June 30, 2024		December 31, 2023
Land	$	6	$	6
Buildings and leasehold improvements	61		59
Gaming machinery and equipment	764		718
Furniture and fixtures	28		26
Construction in progress	12		7
Other property and equipment	99		94
Less: accumulated depreciation	(701)		(674)
Total property and equipment, net	$	269	$	236

Depreciation expense is excluded from cost of services, cost of products and other operating expenses and is separately presented within D&A.


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Depreciation expense	$	32	$	30	$	63	$	57

Intangible Assets, net and Goodwill (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

The following tables present certain information regarding our intangible assets as of June 30, 2024 and December 31, 2023.


	As of
	June 30, 2024						December 31, 2023
	Gross Carrying Value		Accumulated Amortization		Net Balance			Gross Carrying Value		Accumulated Amortization		Net Balance
Amortizable intangible assets:
Customer relationships	$	902	$	(597)	$	305		$	904	$	(567)	$	337
Intellectual property	940		(791)		149			947		(771)		176
Licenses	291		(230)		61			290		(217)		73
Brand names	130		(124)		6			129		(120)		9
Trade names	163		(159)		4			163		(157)		6
Patents and other	11		(7)		4			11		(7)		4
Total intangible assets	$	2,437	$	(1,908)	$	529		$	2,444	$	(1,839)	$	605

Schedule of Intangible Asset Amortization Expense

The following reflects intangible amortization expense included within D&A:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Amortization expense(1)	$	38	$	61	$	75	$	119
(1) The three and six months ended June 30, 2023 include intangible assets non-cash impairment charge of $4 million related to SciPlay restructuring of a certain foreign studio.

The following reflects amortization of software included within D&A:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Amortization expense	$	17	$	17	$	35	$	32

Schedule of Goodwill Reconciliation

The table below reconciles the change in the carrying value of goodwill, by business segment, for the period from December 31, 2023 to June 30, 2024.


	Gaming(1)		SciPlay		iGaming		Totals
Balance as of December 31, 2023	$	2,388	$	210	$	347	$	2,945


Foreign currency adjustments	(8)		(2)		(10)		(20)
Balance as of June 30, 2024	$	2,380	$	208	$	337	$	2,925





(1) Accumulated goodwill impairment charges for the Gaming segment as of June 30, 2024 were $989 million.

Software, net (Tables)

6 Months Ended

Jun. 30, 2024

Research and Development [Abstract]

Schedule of Capitalized Computer Software

Software, net consisted of the following:


	As of
	June 30, 2024		December 31, 2023
Software	$	1,109	$	1,083
Accumulated amortization	(947)		(925)
Software, net	$	162	$	158

Schedule of Software Amortization Expense

The following reflects intangible amortization expense included within D&A:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Amortization expense(1)	$	38	$	61	$	75	$	119
(1) The three and six months ended June 30, 2023 include intangible assets non-cash impairment charge of $4 million related to SciPlay restructuring of a certain foreign studio.

The following reflects amortization of software included within D&A:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Amortization expense	$	17	$	17	$	35	$	32

Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of debt outstanding

The following table reflects our outstanding debt (in order of priority and maturity):


	As of
	June 30, 2024								December 31, 2023
	Final Maturity	Rate(s)	Face Value		Unamortized debt discount/premium and deferred financing costs, net		Book Value		Book Value
Senior Secured Credit Facilities:
LNWI Revolver	2027	variable	$	—	$	—	$	—	$	—
LNWI Term Loan B	2029	variable	2,162		(25)		2,137		2,141
LNWI Senior Notes:
2028 Unsecured Notes	2028	7.000%	700		(6)		694		694
2029 Unsecured Notes	2029	7.250%	500		(5)		495		495
2031 Unsecured Notes	2031	7.500%	550		(7)		543		543
Other	—	—	2		—		2		1
Total long-term debt outstanding			$	3,914	$	(43)	$	3,871	$	3,874
Less: current portion of long-term debt							(22)		(22)
Long-term debt, excluding current portion							$	3,849	$	3,852
Fair value of debt(1)			$	3,940





(1) Fair value of our fixed rate and variable interest rate debt is classified within Level 2 in the fair value hierarchy and has been calculated based on the quoted market prices of our securities.

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Gains on Interest Rate Swaps

The following table shows the gain and interest income on our interest rate swap contracts:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Gain recorded in accumulated other comprehensive loss, net of tax	$	—	$	10	$	6	$	3
Interest income related to interest rate swap contracts recorded in interest expense	5		4		9		7

Schedule of Effect of Interest Rate Swap Contracts Designated as Cash Flow Hedges

The following table shows the effect of interest rate swap contracts designated as cash flow hedges on interest expense in the consolidated statements of income:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Total interest expense which reflects the effects of cash flow hedges	$	(75)	$	(78)	$	(150)	$	(153)
Hedged item	(5)		(5)		(10)		(10)
Derivative designated as hedging instrument	10		9		19		17

Schedule of Assets Measured at Fair Value on a Recurring Basis

The following table shows the fair value of our hedges:


		As of
	Balance Sheet Line Item	June 30, 2024		December 31, 2023

Interest rate swaps	Other assets	$	28	$	20

Schedule of Changes in Contingent Acquisition Consideration Liabilities

The table below reconciles the change in the contingent acquisition consideration liabilities (including deferred purchase price) for the period from December 31, 2023 to June 30, 2024.


	Total		Included in Accrued Liabilities		Included in Other Long-Term Liabilities
Balance as of December 31, 2023	$	59	$	39	$	20

Payments	(37)
Fair value adjustments	—
Other adjustments(1)	(5)
Balance as of June 30, 2024	$	17	$	10	$	7

(1) Represents extinguishment of $5 million in redeemable non-controlling interest liability associated with SciPlay’s acquisition of Alictus Yazilim Anonim Şirketi in 2022, as specified financial targets for the second year were not met. The gain was recorded in other income (expense), net in our consolidated statements of income.

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2024

Stockholders' Equity Note [Abstract]

Statements of Changes in Stockholders' Equity

The following tables present certain information regarding our stockholders’ equity as of June 30, 2024 and 2023:


	Six Months Ended June 30, 2024
	Common Stock		Additional Paid in Capital		Retained Earnings		Treasury Stock		Accumulated Other Comprehensive Loss		Total
January 1, 2024	$	1	$	1,118	$	680	$	(751)	$	(283)	$	765
Settlement of liability awards	—		65		—		—		—		65
Vesting of RSUs, net of tax withholdings and other	—		(43)		—		—		—		(43)
Purchase of treasury stock	—		—		—		(25)		—		(25)

Stock-based compensation	—		14		—		—		—		14
Net income	—		—		82		—		—		82
Other comprehensive loss	—		—		—		—		(23)		(23)
March 31, 2024	$	1	$	1,154	$	762	$	(776)	$	(306)	$	835
Vesting of RSUs, net of tax withholdings and other	—		1		—		—		—		1
Purchase of treasury stock	—		—		—		(151)		—		(151)

Stock-based compensation	—		20		—		—		—		20
Net income	—		—		82		—		—		82
Other comprehensive income	—		—		—		—		(1)		(1)
June 30, 2024	$	1	$	1,175	$	844	$	(927)	$	(307)	$	786


	Six Months Ended June 30, 2023
	Common Stock		Additional Paid in Capital		Retained Earnings		Treasury Stock		Accumulated Other Comprehensive Loss		Noncontrolling Interest		Total
January 1, 2023	$	1	$	1,370	$	517	$	(580)	$	(318)	$	171	$	1,161
Settlement of liability awards	—		25		—		—		—		—		25
Vesting of RSUs, net of tax withholdings and other	—		(14)		—		—		—		—		(14)
Purchase of treasury stock	—		—		—		(28)		—		—		(28)
Purchase of SciPlay’s Class A common stock	—		(8)		—		—		—		—		(8)
Stock-based compensation	—		15		—		—		—		—		15
Net income	—		—		22		—		—		5		27
Other comprehensive income	—		—		—		—		6		—		6

March 31, 2023	$	1	$	1,388	$	539	$	(608)	$	(312)	$	176	$	1,184
Vesting of RSUs, net of tax withholdings and other	—		1		—		—		—		—		1
Purchase of treasury stock	—		—		—		(5)		—		—		(5)
Purchase of SciPlay’s Class A common stock	—		(15)		—		—		—		—		(15)
Stock-based compensation	—		13		—		—		—		—		13
Net (loss) income	—		—		(1)		—		—		6		5
Other comprehensive income	—		—		—		—		47		—		47
June 30, 2023	$	1	$	1,387	$	538	$	(613)	$	(265)	$	182	$	1,230

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The following reflects total stock-based compensation expense recognized under all programs:


	Three Months Ended June 30,			Six Months Ended June 30,
		2024		2023		2024		2023



Related to L&W RSUs		$	31	$	21	$	53	$	40
Related to SciPlay RSUs		—		7		—		14
Total(1)		$	31	$	28	$	53	$	54


(1) Includes $11 million and $19 million of stock-based compensation classified as liability awards for the three and six months ended June 30, 2024, respectively, and $15 million and $26 million for the three and six months ended June 30, 2023, respectively.

RSUs Outstanding Under Equity-based Compensation Plans

A summary of the changes in RSUs outstanding under our equity-based compensation plans during the six months ended June 30, 2024 is presented below:


	Number of Restricted Stock Units	Weighted Average Grant Date Fair Value
Unvested RSUs as of December 31, 2023	2.3	$	55.53
Granted	1.4	$	99.57
Vested	(1.3)	$	72.70
Cancelled	(0.1)	$	56.12
Unvested RSUs as of June 30, 2024	2.3	$	71.90

Leases and Other Commitments (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Supplemental balance sheet and cash flow information related to operating leases

Supplemental balance sheet and cash flow information related to operating leases is as follows:


	As of
	June 30, 2024			December 31, 2023
Operating lease right-of-use assets	$	45		$	52
Accrued liabilities	18			19
Operating lease liabilities	31			39
Total operating lease liabilities	$	49		$	58


Weighted average remaining lease term, years	3			4
Weighted average discount rate	6		%	6		%


	Six Months Ended June 30,
	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	11	$	10
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases	$	2	$	—

Future minimum lease payments required under our leasing arrangements

Lease liability maturities:


	Remainder of 2024		2025		2026		2027		2028		Thereafter		Less Imputed Interest		Total
Operating leases	$	11	$	18	$	13	$	8	$	4	$	—	$	(5)	$	49

Description of the Business and Summary of Significant Accounting Policies - Narrative (Details) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 USD ($) shares	Jun. 30, 2024 USD ($) Segment shares	Jun. 30, 2023 USD ($) shares
Accounting Policies [Abstract]
Number of reportable segments \| Segment			3
Interest Income, Other \| $	$ 5		$ 10
Gain (Loss), Foreign Currency Transaction, before Tax \| $		$ (25)		$ (38)
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements (in shares)	2		2	2
Employee Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)		2
Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)		2

Revenue Recognition - Summary of Revenue by Type (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

$ 818

$ 731

$ 1,575

$ 1,400

Gaming

539

471

1,016

890

SciPlay

205

190

411

376

iGaming

Gaming operations | Gaming

148

134

Gaming machine sales | Gaming

175

167

340

327

228

173

433

331

Gaming systems | Gaming

142

127

Table products | Gaming

Mobile in-app purchases | SciPlay

101

105

Web in-app purchases and other(1) | SciPlay

160

170

330

335

Proprietary Platform Revenue | SciPlay

^[1]

$ 20

$ 41

Change In Contract Liabilities [Roll Forward]

$ 24

$ 36

[1]	(1) Other represents $24 million and $36 million in revenue generated via our proprietary direct-to-consumer platform for the three and six months ended June 30, 2024, respectively, along with advertising and other revenue, which were not material for the periods presented.

Revenue Recognition - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Operating Lease, Lease Income	$ 136	$ 123	$ 263	$ 240

Revenue Recognition - Summary of Contract Liabilities (Details)
$ in Millions

6 Months Ended

Jun. 30, 2024

USD ($)

Contract liability balance, beginning of period(1)

$ 27

^[1]

Liabilities recognized during the period

Amounts recognized in revenue from beginning balance

(16)

Contract liability balance, end of period(1)

$ 25

^[1]

[1]	(1) Contract liabilities are included within Accrued liabilities and Other long-term liabilities in our consolidated balance sheets.

Revenue Recognition - Opening and Closing Balances (Details) - USD ($)
$ in Millions

Jun. 30, 2024

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Receivables

$ 635

$ 543

Contract Assets(1)

^[1]

$ 26

$ 24

[1]	(1) Contract assets are included primarily within Prepaid expenses, deposits and other current assets in our consolidated balance sheets.

Business Segments - Additional Information (Details)	6 Months Ended
Business Segments - Additional Information (Details)	Jun. 30, 2024 Segment
Segment Reporting [Abstract]
Number of reportable segments	3

Business Segments - Reportable Segment (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

$ 818

$ 731

$ 1,575

$ 1,400

330

^[1]

281

^[2]

610

^[3]

529

^[4]

(87)

(108)

(173)

(208)

Other income (expense), net

(34)

(31)

(40)

(50)

Interest expense

(75)

(78)

(150)

(153)

(16)

(18)

Net income before income taxes

(31)

(28)

(53)

(54)

108

208

Gaming

539

471

1,016

890

SciPlay

Operating Segments | Gaming

205

190

411

376

539

471

1,016

890

272

^[1]

233

^[2]

504

^[3]

438

^[4]

(63)

(79)

(123)

(156)

Operating Segments | SciPlay

(1)

(3)

(1)

(11)

205

190

411

376

^[1]

^[2]

132

^[3]

113

^[4]

(6)

(11)

(13)

(17)

Operating Segments | iGaming

(2)

(3)

148

134

^[1]

^[2]

^[3]

^[4]

(13)

(12)

(26)

(24)

Unallocated and Reconciling Items

(9)

(2)

(10)

^[5]

^[6]

^[7]

^[8]

(36)

^[1],[5]

(35)

^[2],[6]

(74)

^[3],[7]

(69)

^[4],[8]

(5)

^[5]

(6)

^[6]

(11)

^[7]

(11)

^[8]

Other income (expense), net

(34)

^[5]

(17)

^[6]

(37)

^[7]

(26)

^[8]

Interest expense

(75)

^[5]

(78)

^[6]

(150)

^[7]

(153)

^[8]

^[5]

(16)

^[6]

^[7]

(18)

^[8]

$ (31)

^[5]

$ (28)

^[6]

$ (53)

^[7]

$ (54)

^[8]

[1]	(2) AEBITDA is reconciled to net income before income taxes with the following adjustments, as applicable: (1) depreciation and amortization expense and impairment charges (including goodwill impairments); (2) restructuring and other, which includes charges or expenses attributable to: (i) employee severance; (ii) management restructuring and related costs; (iii) restructuring and integration; (iv) cost savings initiatives; (v) major litigation; and (vi) acquisition- and disposition-related costs and other unusual items; (3) interest expense; (4) gain (loss) on debt refinancing transactions; (5) change in fair value of investments and remeasurement of debt and other; (6) other income (expense), net, including foreign currency gains or losses and earnings from equity investments; and (7) stock-based compensation. AEBITDA is presented as our primary segment measure of profit or loss.
[2]	(2) AEBITDA is described in footnote (2) to the first table in this Note 3.
[3]	(2) AEBITDA is described in footnote (2) to the first table in this Note 3.
[4]	(2) AEBITDA is described in footnote (2) to the first table in this Note 3.
[5]	(1) Includes amounts not allocated to the business segments (including corporate costs) and items to reconcile the total business segments AEBITDA to our consolidated net income before income taxes.
[6]	(1) Includes amounts not allocated to the business segments (including corporate costs) and items to reconcile the total business segments AEBITDA to our consolidated net income before income taxes.
[7]	(1) Includes amounts not allocated to the business segments (including corporate costs) and items to reconcile the total business segments AEBITDA to our consolidated net income before income taxes.
[8]	(1) Includes amounts not allocated to the business segments (including corporate costs) and items to reconcile the total business segments AEBITDA to our consolidated net income before income taxes.

Restructuring and Other (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

Employee severance and related

$ 34

$ 31

$ 40

$ 50

Legal and related

Strategic review and related(1)

Contingent acquisition consideration(2)

^[1]

Restructuring, integration and other

^[2]

(1)

Goodwill and Intangible Assets Disclosure [Abstract]

$ 3

$ 4

$ 6

$ 10

[1]	(1) Includes costs associated with the SciPlay merger, ASX listing, sale of discontinued operations (including ongoing separation activities), rebranding and related activities. Refer to the Notes in our 2023 10-K for more information regarding these activities.
[2]	(2) Represents contingent consideration fair value adjustments (see Note 11).

Accounts Receivable and Notes Receivable and Credit Quality of Receivables - Components of Accounts and Notes Receivable (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current:
Receivables	$ 612	$ 544
Allowance for credit losses	(37)	(38)
Current receivables, net	575	506
Long-term:
Receivables	67	40
Allowance for credit losses	(7)	(3)
Long-term receivables, net	60	37
Total receivables, net	$ 635	$ 543

Accounts Receivable and Notes Receivable and Credit Quality of Receivables - Components of Total Notes Receivable, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Receivables, net
Receivables	$ 67				$ 40
Notes receivable allowance for doubtful accounts	(44)	$ (40)	$ (42)	$ (40)	(41)	$ (40)
Accounts and notes receivable, net	635				543
Provision for Loan, Lease, and Other Losses	(6)	(1)	(4)	(1)
Charge-offs and recoveries	2	2	$ 2	$ 1
Notes Receivable
Receivables, net
Receivables	679				584
Notes receivable allowance for doubtful accounts	(44)				(41)
Accounts and notes receivable, net	635				543
United States and Canada
Receivables, net
Notes receivable allowance for doubtful accounts	(19)	(16)			(17)
Provision for Loan, Lease, and Other Losses	(3)	0
Charge-offs and recoveries	0	1
United States and Canada \| Notes Receivable
Receivables, net
Receivables	354				344
Notes receivable allowance for doubtful accounts	(19)				(17)
International
Receivables, net
Notes receivable allowance for doubtful accounts	(25)	(24)			(24)
Provision for Loan, Lease, and Other Losses	(3)	(1)
Charge-offs and recoveries	2	$ 1
International \| Notes Receivable
Receivables, net
Receivables	325				240
Notes receivable allowance for doubtful accounts	(25)				(24)
Balances over 90 days past due \| Notes Receivable
Receivables, net
Receivables	46				63
Notes receivable allowance for doubtful accounts, balances over 90 days past due	(16)				(15)
Notes receivable, net, balances over 90 days past due	30				48
Balances over 90 days past due \| United States and Canada \| Notes Receivable
Receivables, net
Receivables	4				13
Notes receivable allowance for doubtful accounts, balances over 90 days past due	(4)				(3)
Balances over 90 days past due \| International \| Notes Receivable
Receivables, net
Receivables	42				50
Notes receivable allowance for doubtful accounts, balances over 90 days past due	$ (12)				$ (12)

Accounts Receivable and Notes Receivable and Credit Quality of Receivables - Allowance for Notes Receivable (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2023
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Allowance for credit losses, beginning of period	$ (40)	$ (41)	$ (40)	$ (40)
Provision for Loan, Lease, and Other Losses	(6)	(1)	(4)	(1)
Charge-offs and recoveries	2	2	2	1
Allowance for credit losses, end of period	$ (44)	(40)	$ (42)	$ (40)
Balances over 90 days past due
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Financing Receivable, Percent Past Due	5.00%				9.00%
United States and Canada
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Allowance for credit losses, beginning of period	$ (16)	(17)
Provision for Loan, Lease, and Other Losses	(3)	0
Charge-offs and recoveries	0	1
Allowance for credit losses, end of period	(19)	(16)
International
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Allowance for credit losses, beginning of period	(24)	(24)
Provision for Loan, Lease, and Other Losses	(3)	(1)
Charge-offs and recoveries	2	1
Allowance for credit losses, end of period	$ (25)	$ (24)

Accounts Receivable and Notes Receivable and Credit Quality of Receivables - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Net, Current	$ 575	$ 506
Latin America [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss	59
Accounts Receivable, Allowance for Credit Loss	(18)
Accounts Receivable, after Allowance for Credit Loss	41
Current \| Latin America [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss	45
Accounts Receivable, Allowance for Credit Loss	(11)
Accounts Receivable, Net, Current	34
Balances over 90 days past due \| Latin America [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss	14
Accounts Receivable, Allowance for Credit Loss	(7)
Accounts Receivable, Net, Current	$ 7

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Inventories
Parts and work-in-process	$ 120	$ 113
Finished goods	66	64
Total inventories	$ 186	$ 177

Property and Equipment, net - Schedule of Property and Equipment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation	$ (701)		$ (701)		$ (674)
Total property and equipment, net	269		269		236
Depreciation expense	32	$ 30	63	$ 57
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	6		6		6
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	61		61		59
Gaming machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	764		764		718
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	28		28		26
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	12		12		7
Other property and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 99		$ 99		$ 94

Intangible Assets, net and Goodwill - Intangible Assets (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Schedule of Finite Lived Intangible and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 2,437	$ 2,444
Accumulated Amortization	(1,908)	(1,839)
Net Balance	529	605
Customer relationships
Schedule of Finite Lived Intangible and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Value	902	904
Accumulated Amortization	(597)	(567)
Net Balance	305	337
Intellectual property
Schedule of Finite Lived Intangible and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Value	940	947
Accumulated Amortization	(791)	(771)
Net Balance	149	176
Licenses
Schedule of Finite Lived Intangible and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Value	291	290
Accumulated Amortization	(230)	(217)
Net Balance	61	73
Brand names
Schedule of Finite Lived Intangible and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Value	130	129
Accumulated Amortization	(124)	(120)
Net Balance	6	9
Trade names
Schedule of Finite Lived Intangible and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Value	163	163
Accumulated Amortization	(159)	(157)
Net Balance	4	6
Patents and other
Schedule of Finite Lived Intangible and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Value	11	11
Accumulated Amortization	(7)	(7)
Net Balance	$ 4	$ 4

Intangible Assets, net and Goodwill - Intangible Asset Amortization Expense (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

Amortization expense(1)

$ 38

$ 61

^[1]

$ 75

$ 119

^[1]

Noncash Intangible Asset Impairment Charge

$ 4

[1]	(1) The three and six months ended June 30, 2023 include intangible assets non-cash impairment charge of $4 million related to SciPlay restructuring of a certain foreign studio.

Intangible Assets, net and Goodwill - Goodwill (Details)
$ in Millions

6 Months Ended

Jun. 30, 2024

USD ($)

Goodwill

$ 2,945

(20)

2,925

Gaming

Goodwill

2,388

^[1]

(8)

^[1]

2,380

^[1]

SciPlay

Goodwill

210

(2)

208

iGaming

Goodwill

347

(10)

Accumulated goodwill impairment charges

337

Gaming Business Segment

Goodwill

$ 989

[1]	(1) Accumulated goodwill impairment charges for the Gaming segment as of June 30, 2024 were $989 million.

Software, net - Summary of Software and Amortization (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Research and Development [Abstract]
Software	$ 1,109		$ 1,109		$ 1,083
Accumulated amortization	(947)		(947)		(925)
Software, net	162		162		$ 158
Amortization expense	$ 17	$ 17	$ 35	$ 32

Long-Term Debt - Outstanding Debt (Details) - USD ($)
$ in Millions

Jun. 30, 2024

Dec. 31, 2023

Unamortized debt discount/premium and deferred financing costs, net

$ 3,914

(43)

Less: current portion of long-term debt

3,871

$ 3,874

(22)

Long-term debt, excluding current portion

3,849

3,852

Fair value of debt

^[1]

$ 3,940

Senior Notes | 2028 Unsecured Notes

Rate(s)

7.00%

Unamortized debt discount/premium and deferred financing costs, net

$ 700

(6)

Senior Notes | 2029 Unsecured Notes

$ 694

694

Rate(s)

7.25%

Unamortized debt discount/premium and deferred financing costs, net

$ 500

(5)

Senior Notes | 2031 Unsecured Notes

$ 495

495

Rate(s)

7.50%

Unamortized debt discount/premium and deferred financing costs, net

$ 550

(7)

Capital Lease Obligations | Other

543

Unamortized debt discount/premium and deferred financing costs, net

Revolving Credit Facility | Secured Debt | LNWI Revolver

Unamortized debt discount/premium and deferred financing costs, net

Revolving Credit Facility | Secured Debt | LNWI Term Loan B

Unamortized debt discount/premium and deferred financing costs, net

2,162

(25)

Derivative Instruments and Hedging Activities Disclosures [Line Items]

$ 2,137

$ 2,141

[1]	(1) Fair value of our fixed rate and variable interest rate debt is classified within Level 2 in the fair value hierarchy and has been calculated based on the quoted market prices of our securities.

Long-Term Debt - Terms of Outstanding Debt (Details) - Secured Debt - LNWI Term Loan B - Subsequent Event	Jul. 17, 2024
Adjusted Secured Overnight Financing Rate
Debt Instrument [Line Items]
Margin spread on debt	2.25%
Base Rate
Debt Instrument [Line Items]
Margin spread on debt	1.25%

Fair Value Measurements - Additional Information (Details) - Cash Flow Hedging - Designated as Hedging Instrument - Interest rate swap - USD ($) $ in Millions	Jun. 30, 2024	Apr. 30, 2022
Derivatives Fair Value
Derivative, average fixed interest rate	2.832%
Notional amounts of the forward contracts	$ 700	$ 700

Fair Value Measurements - Gains (Losses) on Interest Rate Swaps (Details) - Interest rate swap - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net income attributable to L&W	$ 0	$ 10	$ 6	$ 3
Interest income related to interest rate swap contracts recorded in interest expense	$ 5	$ 4	$ 9	$ 7

Fair Value Measurements - Effect of Interest Rate Swap Contracts Designated as Cash Flow Hedges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Interest expense	$ (75)	$ (78)	$ (150)	$ (153)
Hedged item	(5)	(5)	(10)	(10)
Derivative designated as hedging instrument	$ 10	$ 9	$ 19	$ 17

Fair Value Measurements - Schedule of Fair Value of Hedges (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Other assets \| Interest rate swap
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative fair value	$ 28	$ 20

Fair Value Measurements - Contingent Acquisition Consideration (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Mar. 31, 2024

Jun. 30, 2024

Beginning balance

$ 59

Payments

(37)

Fair value adjustments

Other adjustments(1)

(5)

^[1]

Ending balance

Accrued liabilities

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Beginning balance

Ending balance

Included in Other Long-Term Liabilities

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Beginning balance

$ 20

Ending balance

$ 7

[1]

(1) Represents extinguishment of $5 million in redeemable non-controlling interest liability associated with SciPlay’s acquisition of Alictus Yazilim Anonim Şirketi in 2022, as specified financial targets for the second year were not met. The gain was recorded in other income (expense), net in our consolidated statements of income.

Stockholders' Equity - Changes in Common Stock (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Total stockholders’ equity	$ 786	$ 835	$ 1,230	$ 1,184	$ 786	$ 1,230	$ 765	$ 1,161
Adjustments to Additional Paid in Capital Settlement of Liability Awards and Other		65		25
Redemption Premium	1	(43)	1	(14)
Treasury Stock, Value, Acquired, Cost Method	(151)	(25)	(5)	(28)
Stock Repurchased During Period, Value			(15)	(8)
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	20	14	13	15
Net income	82	82	5	27	164	32
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(1)	(23)	47	6
Common Stock [Member]
Class of Stock [Line Items]
Total stockholders’ equity	1	1	1	1	1	1	1	1
Additional Paid-in Capital [Member]
Class of Stock [Line Items]
Total stockholders’ equity	1,175	1,154	1,387	1,388	1,175	1,387	1,118	1,370
Adjustments to Additional Paid in Capital Settlement of Liability Awards and Other		65		25
Redemption Premium	1	(43)	1	(14)
Stock Repurchased During Period, Value			15	(8)
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	20	14	13	15
Retained Earnings [Member]
Class of Stock [Line Items]
Total stockholders’ equity	844	762	538	539	844	538	680	517
Net income	82	82	(1)	22
Treasury Stock, Common
Class of Stock [Line Items]
Total stockholders’ equity	(927)	(776)	(613)	(608)	(927)	(613)	(751)	(580)
Treasury Stock, Value, Acquired, Cost Method	(151)	(25)	(5)	(28)
AOCI Attributable to Parent [Member]
Class of Stock [Line Items]
Total stockholders’ equity	(307)	(306)	(265)	(312)	$ (307)	(265)	$ (283)	(318)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	$ (1)	$ (23)	47	6
Noncontrolling Interest [Member]
Class of Stock [Line Items]
Total stockholders’ equity			182	176		$ 182		$ 171
Net income			$ 6	$ 5

Stockholders' Equity - Stock Based Compensation Expense Under All Programs (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2024

Jun. 30, 2023

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

^[1]

$ 31

$ 28

$ 53

$ 54

Restricted Stock Units

Restricted Stock Units | SciPlay

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Liability Awards