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    David Fabris • Unknown Analyst

    David Fabris's questions to Light & Wonder Inc (LNW) leadership

    David Fabris's questions to Light & Wonder Inc (LNW) leadership • Q2 2025

    Question

    David Fabris from Macquarie Group sought to clarify the 2025 EBITDA guidance, questioning if the inclusion of Grover's contribution implied the underlying business was tracking below its $1.4B target. He also asked about the outlook for customer CapEx and details on international sales for the second half.

    Answer

    President & CEO Matt Wilson reiterated that the team is targeting $1.4B for the base business but the guidance range allows for strategic long-term investments. He noted that early Q2 operator apprehension has since turned positive, with operators now ahead of budget. CFO Oliver Chow added that second-half sales will be supported by VLT shipments to Canada and an uptick in Asia in Q4, driven by replacements and new openings.

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    David Fabris's questions to Light & Wonder Inc (LNW) leadership • Q3 2024

    Question

    David Fabris asked about the sustainability of customer budgets in the North American market into 2025 and whether the penetration of premium gaming operations on casino floors could continue to increase.

    Answer

    President and CEO Matthew Wilson stated that the macro environment supports a replacement market consistent with 2024 levels, and that the company is diversifying into new adjacencies and geographies. He added that operators are expanding their footprint of high-performing premium games to cater to top players, a trend he sees continuing.

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