Overview of Light & Wonder's response to court order

Light & Wonder, Inc. (ASX:LNW) received a preliminary injunction from the U.S. District Court for the District of Nevada regarding its Dragon Train game. The company plans to appeal the decision and vigorously defend against the claims made by Aristocrat. Despite the setback, Light & Wonder reaffirms its 2025 $1.4 billion Targeted Consolidated AEBITDA and expects continued strong growth across all its businesses.

Executive commentary on the court order and future plans

We respectfully disagree with the judge's decision and will promptly file an appeal. We will continue to vigorously defend against Aristocrat's claims, including presenting our defenses to a jury at a trial. Our pre-ruling estimate of 2025 Consolidated AEBITDA for Dragon Train was less than 5% of the $1.4 billion. We have a diversified portfolio of successful game franchises driving our strong performance and growth, and we are already working on new iterations of the Dragon Train franchise consistent with the terms of the Court's ruling.

Summary of Light & Wonder's position and outlook

Despite the preliminary injunction, Light & Wonder remains committed to its 2025 $1.4 billion Targeted Consolidated AEBITDA and anticipates continued strong growth across all its businesses. The company emphasizes its diversified portfolio of successful game franchises and ongoing investment in R&D to maintain a competitive advantage. Additionally, it plans to appeal the court's decision and is already working on new iterations of the Dragon Train franchise. Light & Wonder also reaffirms its robust capital management strategy, including share repurchases and value accretive investments, to achieve the best shareholder returns.