Light & Wonder, Inc. (NASDAQ:LNW) Q3 2022 Earnings Conference Call November 9, 2022 4:30 PM ET

Company Participants

James Bombassei - SVP, IR

Matthew Wilson - CEO, President & Director

Constance James - EVP & CFO

Conference Call Participants

Barry Jonas - Truist Securities

David Katz - Jefferies

Jeffrey Stantial - Stifel

Chad Beynon - Macquarie Research

Operator

Welcome to the Light & Wonder 2022 Third Quarter Investor Conference Call. [Operator Instructions]. Now let me turn the call over to Jim Bombassei, Senior Vice President of Investor Relations for Light & Wonder, so Mr. Bombassei, you may begin.

James Bombassei

Thank you, operator. Good afternoon, everyone. During today's call, we will discuss our third quarter 2022 results and operating performance, followed by a question-and-answer period.

With me today are CEO, Matt Wilson; and CFO, Connie James. Our call today will contain statements that include forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements involve certain risks and uncertainties that could cause actual results to differ materially from those discussed during the call.

For information regarding these risks and uncertainties please refer to our earnings release issued earlier this afternoon, the materials relating to this call posted on our website and our filings with the SEC.

We will also discuss certain non-GAAP financial measures. A description of each non-GAAP measure and a reconciliation of each non-GAAP measure to the most directly comparable GAAP measure can be found in our earnings release as well as in the Investors section on our website.

On September 27, 2021, we announced that we have entered into a definitive agreement to sell our Sports Betting business to Endeavor and subsequently closed the transaction on September 30 of this year.

During the second quarter, we completed the sale of the Lottery business to Brookfield Business Partners. Accordingly, we have reflected these businesses as discontinued operations in our consolidated statement of operations for all periods presented.

We are reporting our results of continuing operations in 3 business segments: Gaming, SciPlay and iGaming. Amounts and disclosures referring to combined include both our continuing and discontinued operations.

As a reminder, this conference call is being recorded. A replay of this webcast and accompanying materials will be archived in the Investors section of our website at www.lnw.com.

And now I'll turn the call over to Matt.

Matthew Wilson

Thanks, Jim. Good afternoon, everyone, and thank you for joining us today. It's great to be here with you on my first earnings call. I'm excited to have taken over the reins of Light & Wonder and honored that the Board has placed its trust in me to lead the company on its journey to becoming the leading cross-platform global gaming company.