Global gaming supplier Light & Wonder said Friday it has entered into an amendment to a 2022 credit agreement that provides a new tranche of over US$2.13 billion in term loans to pay off existing debt.
According to a filing, Light & Wonder subsidiary Light and Wonder International, Inc entered into the latest amendment to its original credit agreement on 22 January to create the new tranche of term loans which will replace its existing term loans and reduce the applicable margin on the term loans.
Specifically, the margin has been reduced to 2.00% per annum or 1.0% if using an alternate base rate. The new loan matures on 29 April 2029.
Light & Wonder secured the original term ln 2022 as part of a new financing structure following its demerger from the lottery and sports betting divisions of Scientific games. The original loan was intended to pay off high interest legacy debt and better position the company to expand its gaming interests.
Light & Wonder most recently reported a 3% year-on-year and 4% quarter-on-quarter increase in consolidated revenues in 3Q25 to US$841 million, with net income growing 78% year-on-year to US$114 million.
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