{"schema_version":"secwatch.filing_event.v1","accession":"0000750004-25-000028","form_type":"8-K","ticker":"LNWO","cik":"0000750004","company_name":"Light & Wonder, Inc.","filed_at":"2025-05-07T23:59:59+00:00","discovered_at":"2026-05-14T18:02:51.151840+00:00","generated_at":"2026-05-22T09:47:44.223744+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Light & Wonder Q1 2025: Gaming rev $495M (+4% YoY), SciPlay rev $202M (-2% YoY), $166M buyback","bullets":["Gaming segment revenue $495M (+4% YoY) with AEBITDA +9% and 200bps margin expansion; North American premium installed base grew for 19th consecutive quarter.","SciPlay revenue $202M (-2% YoY) but AEBITDA +3% with 200bps margin expansion; ARPDAU rose 5% to $1.06.","iGaming revenue $77M (+4% YoY) and AEBITDA +8% with 100bps margin expansion, driven by US momentum and partner network growth.","Returned $166M via share repurchases (~1.9M shares); net debt leverage ratio at 3.0x; reaffirmed 2025 consolidated AEBITDA target of $1.4B (pre-Grover).","Grover Gaming acquisition ($850M upfront) on track for Q2 2025 close; Dragon Train litigation review found no evidence of Aristocrat math values in other hold-and-spin games."],"urls":{"canonical":"https://secwatch.observer/filing/0000750004-25-000028","json":"https://secwatch.observer/filing/0000750004-25-000028.json","markdown":"https://secwatch.observer/filing/0000750004-25-000028.md","text":"https://secwatch.observer/filing/0000750004-25-000028.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/750004/000075000425000028/0000750004-25-000028-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/750004/000075000425000028/lnw-20250507.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-22T09:47:44.223744+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}