Light & Wonder (LNW) 10-Q 10 May 22 2022 Q1 Quarterly report Financial data

COVER

COVER - shares	3 Months Ended
	Mar. 31, 2022	May 05, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-11693
Entity Registrant Name	LIGHT & WONDER, INC.
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	81-0422894
Entity Address, Address Line One	6601 Bermuda Road
Entity Address, City or Town	Las Vegas
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89119
City Area Code	702
Local Phone Number	897-7150
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		95,665,390
Entity Central Index Key	0000750004
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $.001 par value
Trading Symbol	LNW
Security Exchange Name	NASDAQ
Preferred Stock Purchase Rights
Document Information [Line Items]
Title of 12(b) Security	Preferred Stock Purchase Rights
No Trading Symbol Flag	true
Security Exchange Name	NASDAQ

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue:
Total revenue	$ 572	$ 453
Operating expenses:
Selling, general and administrative	175	159
Research and development	53	45
Depreciation, amortization and impairments	108	97
Restructuring and other	36	21
Operating income	40	4
Other (expense) income:
Interest expense	(116)	(121)
Gain on remeasurement of debt	7	25
Other income, net	5	7
Total other expense, net	(104)	(89)
Net loss from continuing operations before income taxes	(64)	(85)
Income tax expense	(3)	(3)
Net loss from continuing operations	(67)	(88)
Net income from discontinued operations, net of tax	95	79
Net income (loss)	28	(9)
Net income (loss) attributable to L&W	$ 26	$ (15)
Per Share - Basic:
Net loss from continuing operations (in dollars per share)	$ (0.72)	$ (0.98)
Net income from discontinued operations (in dollars per share)	0.98	0.82
Net income (loss) attributable to SGC (in dollars per share)	0.26	(0.16)
Per Share - Diluted:
Net loss from continuing operations (in dollars per share)	(0.72)	(0.98)
Net income from discontinued operations (in dollars per share)	0.98	0.82
Net income (loss) attributable to SGC (in dollars per share)	$ 0.26	$ (0.16)
Weighted average number of shares used in per share calculations:
Basic (in shares)	97	95
Diluted (in shares)	97	95
Accumulated Loss
Other (expense) income:
Net income (loss)		$ (15)
Noncontrolling Interest
Other (expense) income:
Net income (loss)		6
Less: comprehensive income attributable to noncontrolling interest	$ 2	6
Services
Revenue:
Total revenue	431	364
Operating expenses:
Cost of Goods and Services Sold	90	87
Product sales
Revenue:
Total revenue	141	89
Operating expenses:
Cost of Goods and Services Sold	$ 70	$ 40

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net income (loss)	$ 28	$ (9)
Foreign currency translation loss, net of tax	(32)	0
Derivative financial instruments unrealized gain, net of tax	3	5
Other comprehensive (loss) income from continuing operations	(29)	5
Other comprehensive (loss) income from discontinued operations	(8)	3
Total comprehensive loss	(9)	(1)
Comprehensive loss attributable to L&W	(11)	(7)
Noncontrolling Interest
Net income (loss)		6
Less: comprehensive income attributable to noncontrolling interest	$ 2	$ 6

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 496	$ 585
Restricted cash	48	41
Receivables, net of allowance for credit losses $48 and $52, respectively	431	423
Inventories	113	98
Prepaid expenses, deposits and other current assets	110	88
Assets of businesses held for sale	558	497
Total current assets	1,756	1,732
Non-current assets:
Restricted cash	9	9
Receivables, net of allowance for credit losses $2 and $2, respectively	17	17
Property and equipment, net	197	213
Operating lease right-of-use assets	50	51
Goodwill	2,978	2,892
Intangible assets, net	893	946
Software, net	105	117
Deferred Tax Assets, Deferred Income	344	349
Other assets	86	80
Assets of businesses held for sale	1,517	1,477
Total assets	7,952	7,883
Current liabilities:
Current portion of long-term debt	44	44
Accounts payable	198	204
Accrued liabilities	385	444
Liabilities of businesses held for sale	300	282
Total current liabilities	927	974
Deferred income taxes	42	35
Operating lease liabilities	40	40
Other long-term liabilities	155	170
Long-term debt, excluding current portion	8,789	8,646
Liabilities of businesses held for sale	136	124
Total liabilities	10,089	9,989
Commitments and contingencies (Note 16)
Stockholders’ deficit:
Common Stock, Value, Outstanding	1	1
Additional Paid in Capital, Common Stock	1,366	1,337
Retained Earnings (Accumulated Deficit)	(3,132)	(3,158)
Treasury Stock, Value	(226)	(175)
Accumulated Other Comprehensive Income (Loss), Net of Tax	(298)	(261)
Total L&W stockholders’ deficit	(2,289)	(2,256)
Noncontrolling interest	152	150
Total stockholders’ deficit	(2,137)	(2,106)
Total liabilities and stockholders’ deficit	$ 7,952	$ 7,883

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Accounts Receivable, Allowance for Credit Loss, Current	$ 48	$ 52
Accounts Receivable, Allowance for Credit Loss, Noncurrent	$ 2	$ 2
Common stock, par value (in dollars per share)	$ 0.00
Common stock, shares authorized (in shares)	199,000,000
Common stock, shares issued (in shares)	115,000,000	114,000,000
Common stock, shares outstanding (in shares)		97,000,000
Treasury stock, at cost, shares held (in shares)	18,000,000	17,000,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net income (loss)	$ 28	$ (9)
Less: Income from discontinued operations, net of tax	(95)	(79)
Adjustments to reconcile net loss from continuing operations to net cash (used in) provided by operating activities from continuing operations	121	96
Changes in working capital accounts, excluding the effects of acquisitions	(72)	17
Changes in deferred income taxes and other	4	0
Net cash (used in) provided by operating activities from continuing operations	(14)	25
Net cash provided by operating activities from discontinued operations	108	98
Net cash provided by operating activities	94	123
Cash flows from investing activities:
Capital expenditures	(43)	(35)
Acquisitions of businesses, net of cash acquired	(108)	0
Other	0	1
Net cash used in investing activities from continuing operations	(151)	(34)
Net cash used in investing activities from discontinued operations	(25)	(27)
Net cash used in investing activities	(176)	(61)
Cash flows from financing activities:
Borrowings under SGI revolving credit facility	230	0
Repayments under SGI revolving credit facility	(70)	(100)
Payments on long-term debt	(10)	(10)
Payments of debt issuance and deferred financing and offering costs	(1)	0
Payments on license obligations	(19)	(12)
Payments for Repurchase of Common Stock	51	0
Net redemptions of common stock under stock-based compensation plans and other	(25)	(13)
Net cash provided by (used in) financing activities from continuing operations	54	(135)
Net cash used in financing activities from discontinued operations	(2)	(4)
Net cash provided by (used in) financing activities	52	(139)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(1)	(1)
Decrease in cash, cash equivalents and restricted cash	(31)	(78)
Cash, cash equivalents and restricted cash, beginning of period	701	1,143
Cash, cash equivalents and restricted cash, end of period	670	1,065
Cash, cash equivalents and restricted cash of continuing operations, end of period	553	948
Supplemental cash flow information:
Cash paid for interest	117	123
Income taxes paid	9	7
Distributed earnings from equity investments	1	4
Supplemental non-cash transactions:
Non-cash interest expense	6	6
Discontinued Operations
Cash flows from operating activities:
Less: Income from discontinued operations, net of tax	(95)	(79)
Cash flows from financing activities:
Less: Cash, cash equivalents and restricted cash of discontinued operations	$ 117	$ 117

Description of the Business and

Description of the Business and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business and Summary of Significant Accounting Policies	Description of the Business We are a leading cross-platform global game company with a focus on content and digital markets. Our portfolio of revenue-generating activities in our continuing operations primarily includes supplying game content and gaming machines, CMSs and table game products and services to licensed gaming entities; providing social casino and other mobile games to retail customers, including casual gaming; and providing a comprehensive suite of digital RMG, distribution platforms, content, products and services to various gaming entities. Our portfolio of revenue-generating activities in the discontinued operations primarily includes providing instant and draw‑based lottery products, lottery systems and lottery content and services to lottery operators along with providing sports wagering solutions to various gaming entities. We report our results of continuing operations in three business segments—Gaming, SciPlay and iGaming—representing our different products and services. Unless otherwise noted, amounts and disclosures included herein relate to our continuing operations. Effective April 28, 2022, we changed our name to Light & Wonder, Inc. This change is in part due to the sale of the Lottery Business that will continue to use the Scientific Games name and also to align with our vision of becoming the leading cross-platform global game company. On September 27, 2021, we entered into a definitive agreement to sell our Sports Betting business to Endeavor Group Holdings, Inc. (“Endeavor”) in a cash and stock transaction. The sale of the Sports Betting Business is expected to be completed in the third quarter of 2022, subject to applicable regulatory approvals and other customary conditions. On April 4, 2022, we completed the previously announced divestiture of the Lottery Business and received $5.6 billion in gross cash proceeds. This excludes the Austria Business, for which we are awaiting regulatory approval in Austria, which approval is expected to be received and the transaction to be completed by the end of the second quarter of 2022, which will provide an additional $104 million of expected gross cash proceeds. We have reflected the financial results of these businesses as discontinued operations in our consolidated statements of operations and reflected the assets and liabilities of these businesses as held for sale in our consolidated balance sheets, for all periods presented. Refer to Note 2 for further information. Basis of Presentation and Principles of Consolidation The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. GAAP. The accompanying condensed consolidated financial statements include the accounts of L&W, its wholly owned subsidiaries, and those subsidiaries in which we have a controlling financial interest. Investments in other entities in which we do not have a controlling financial interest but we exert significant influence are accounted for in our consolidated financial statements using the equity method of accounting. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of L&W and its management, we have made all adjustments necessary to present fairly our consolidated financial position, results of operations, comprehensive loss and cash flows for the periods presented. Such adjustments are of a normal, recurring nature. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our 2021 10-K. Interim results of operations are not necessarily indicative of results of operations to be expected for a full year. Significant Accounting Policies There have been no changes to our significant accounting policies described within the Notes of our 2021 10-K. Computation of Basic and Diluted Net Income (Loss) Per Share Attributable to L&W Basic and diluted net income (loss) attributable to L&W per share is based upon net income (loss) attributable to L&W divided by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflects the effect of the assumed exercise of stock options and RSUs only in the periods in which such effect would have been dilutive. Basic and diluted net loss attributable to L&W per share were the same for all periods presented as all common stock equivalents would be anti-dilutive. We exclud ed 2 million of stock options from the diluted weighted-average common shares outstanding for the three months ended March 31, 2022 and 2021, respectively. We excluded 3 million of RSUs from the calculation of diluted weighted-average common shares outstanding for the three months ended March 31, 2022 and 2021, respectively. SciPlay Acquisition of Alictus Yazilim Anonim Şirketi (“Alictus”) On March 1, 2022, SciPlay acquired 80% of all issued and outstanding share capital of privately held Alictus, a Turkey-based hyper-casual game studio for approximately $106 million cash consideration, net of cash acquired. The remaining 20% will be acquired ratably for potential additional consideration payable annually based upon the achievement of specified revenue and earnings targets by Alictus during each of the five years following the acquisition date. Any future payments associated with the acquisition of the remaining 20% will represent a redeemable non-controlling interest, with a minimum payout of $0 million and a maximum payout of $200 million. The Alictus acquisition expands SciPlay’s business in the casual gaming market, growing its game pipeline and diversifying its revenue streams as it advances its strategy to be a diversified global game developer. We accounted for this acquisition using the acquisition method of accounting whereby the total purchase price was allocated to tangible and intangible assets acquired and liabilities assumed based on respective estimated fair values. The estimated fair values of the acquired assets, assumed liabilities and resulting goodwill are subject to adjustment as we finalize our purchase price accounting. The following table summarizes an aggregate disclosure related to the acquisition of Alictus and is based on the preliminary purchase price allocation expected to be finalized by the fourth quarter of 2022: Total Consideration Cash paid, net of cash acquired (1) Redeemable non-controlling interest (2) Allocation of purchase price to Intangible assets, net (3) Weighted average useful life of acquired intangible assets Excess purchase price allocated to Goodwill (4) $ 134 $ 106 $ 21 $ 34 6 Years $ 93 (1) Exclusive of $6 million acquired in short term investments. (2) The fair value of the redeemable non-controlling interest was determined using a Monte Carlo simulation model with a discount rate ranging between 2% and 3% and primarily based on reaching certain revenue and earnings-based metrics, with a maximum payout of up to $200 million. (3) Intangible assets primarily consist of intellectual property consisting of games technology and content and trade name. The fair value of these intangible assets was determined using an income approach method and level 3 inputs in the hierarchy as established by ASC 820. The discount rate used in the valuation analysis was 18%, and the royalty rate used was 1% for the valuation of the “Alictus” trade name and 21% for the valuation of the acquired game content and related technology. (4) The factors contributing to the recognition of acquisition goodwill are based on game portfolio diversification, expected synergies, assembled workforce and other strategic benefits. None of the resultant goodwill is expected to be deductible for income tax purposes. The revenue and earning associated with the above acquisition are immaterial to our current and historical consolidated financial statements. In April 2022, we acquired Playzido, which will expand our iGaming content offering. New Accounting Guidance - Not Yet Adopted The FASB issued ASU No. 2020-04 and subsequently ASU No. 2021-01, Reference Rate Reform (Topic 848) in March 2020 and January 2021, respectively. The new guidance provides optional expedients and exceptions for applying U.S. GAAP to contract modifications and hedging relationships, including derivative instruments impacted by changes in the interest rates used for discounting cash flows for computing variable margin settlements, subject to meeting certain criteria, that reference LIBOR or other reference rates expected to be discontinued by June 2023. The ASUs establish certain contract modification principles that entities can apply in other areas that may be affected by reference rate reform and certain elective hedge accounting expedients and exceptions. The ASUs may be applied prospectively. Based on our preliminary assessment completed to date, we do not expect the adoption of this guidance to have a significant impact on our consolidated financial statements. We do not expect that any other recently issued accounting guidance will have a significant effect on our consolidated financial statements.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	As described in Note 1, we have reflected the Lottery and Sports Betting Businesses as discontinued operations in our consolidated statements of operations and reflected the assets and liabilities of these businesses as held for sale in our consolidated balance sheets, for all periods presented. The summarized results of our discontinued operations were as follows: Three Months Ended March 31, 2022 2021 Total revenue $ 288 $ 276 Total cost of revenue (1) 150 139 Other operating expenses (2) 41 60 Operating income 97 77 Total other income, net 8 2 Net income from discontinued operations before income taxes 105 79 Income tax expense (10) — Net income from discontinued operations, net of tax included in the consolidated statement of operations $ 95 $ 79 (1) Excludes D&A. (2) Includes D&A of $— million and $26 million for the three months ended March 31, 2022 and 2021, respectively, along with stock-based compensation of $7 million and $4 million for the three months ended March 31, 2022 and 2021, respectively. Due to the discontinued operations classification of these businesses as of the third quarter of 2021, the D&A for these businesses has ceased. The following table summarizes the major classes of assets and liabilities of businesses held for sale. As of March 31, 2022 December 31, 2021 ASSETS Cash and cash equivalents $ 86 $ 44 Restricted cash 31 22 Receivables, net 194 214 Inventories 113 94 Prepaid expenses deposits and other current assets 134 123 Total current assets of businesses held for sale 558 497 Property and equipment, net 229 217 Intangible assets and software, net 334 304 Goodwill 623 623 Equity investments 249 251 Other assets 82 82 Total non-current assets of businesses held for sale 1,517 1,477 Total assets of businesses held for sale $ 2,075 $ 1,974 LIABILITIES Accounts payable $ 103 $ 95 Accrued liabilities and other 197 187 Total current liabilities of businesses held for sale 300 282 Operating lease liabilities 37 34 Other 99 90 Total non-current liabilities of businesses held for sale 136 124 Total liabilities of businesses held for sale $ 436 $ 406

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	The following table disaggregates revenues by type within each of our business segments: Three Months Ended March 31, 2022 2021 Gaming Gaming operations (1) $ 155 $ 113 Gaming machine sales 103 55 Gaming systems 51 42 Table products 46 34 Total $ 355 $ 244 SciPlay Mobile in-app purchases $ 140 $ 133 Web in-app purchases and other (2) 18 18 Total $ 158 $ 151 iGaming $ 59 $ 58 (1) Gaming operations revenue for the three months ended March 31, 2021 benefited from $6 million U.K. fixed odds betting terminals (“FOBT”) recovery received from certain U.K. customers for value-added tax charged on FOBTs (“FOBT recovery”) related to a 2020 U.K. court ruling associated with overcharging of value-added tax for gaming operators that consequently reduced our net gaming revenues in those affected prior periods related to these customers and arrangements. (2) Other primarily represents revenue generated from providing advertising platforms with access to our game software platform, which facilitates the placement of advertising inventory, which was not material in the periods presented. The amount of rental income revenue that is outside the scope of ASC 606 was $113 million and $63 million for the three months ended March 31, 2022, and 2021, respectively. Contract Liabilities and Other Disclosures The following table summarizes the activity in our contract liabilities for the reporting period: Three Months Ended March 31, 2022 Contract liability balance, beginning of period (1) $ 37 Liabilities recognized during the period 5 Amounts recognized in revenue from beginning balance (5) Contract liability balance, end of period (1) $ 37 (1) Contract liabilities are included within Accrued liabilities and Other long-term liabilities in our consolidated balance sheets. The timing of revenue recognition, billings and cash collections results in billed receivables, unbilled receivables (contract assets), and customer advances and deposits (contract liabilities) on our consolidated balance sheets. Other than contracts with customers with financing arrangements exceeding 12 months, revenue recognition is generally proximal to conversion to cash. The following table summarizes our balances in these accounts for the periods indicated (other than contract liabilities disclosed above): Receivables Contract Assets (1) Beginning of period balance $ 440 $ 19 End of period balance, March 31, 2022 448 25 (1) Contract assets are included primarily within Prepaid expenses, deposits and other current assets in our consolidated balance sheets. As of March 31, 2022, we did not have material unsatisfied performance obligations for contracts expected to be long-term or contracts for which we recognize revenue at an amount other than for which we have the right to invoice for goods or services delivered or performed.

Business Segments

Business Segments	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Business Segments	We report our operations in three business segments—Gaming, SciPlay and iGaming—representing our different products and services. A detailed discussion regarding the products and services from which each reportable business segment derives its revenue is included in Notes 3 and 4 in our 2021 10-K. In evaluating financial performance, our Chief Operating Decision Maker focuses on AEBITDA as management’s primary segment measure of profit or loss, which is described in footnote (2) to the below table. The accounting policies of our business segments are the same as those described within the Notes in our 2021 10-K. The following tables present our segment information: Three Months Ended March 31, 2022 Gaming SciPlay iGaming Unallocated and Reconciling Items (1) Total Total revenue $ 355 $ 158 59 $ — $ 572 AEBITDA (2) 171 44 21 (34) $ 202 Reconciling items to Net loss from continuing operations before income taxes: D&A (83) (5) (14) (6) (108) Restructuring and other (3) (2) (1) (30) (36) Interest expense (116) (116) Gain on remeasurement of debt 7 7 Other income, net 2 2 Stock-based compensation (15) (15) Net loss from continuing operations before income taxes $ (64) (1) Includes amounts not allocated to the business segments (including corporate costs) and items to reconcile the total business segments AEBITDA to our consolidated net loss from continuing operations before income taxes. (2) AEBITDA is reconciled to net loss from continuing operations before income taxes with the following adjustments: (1) depreciation and amortization expense and impairment charges (including goodwill impairments); (2) restructuring and other, which includes charges or expenses attributable to: (i) employee severance; (ii) management restructuring and related costs; (iii) restructuring and integration; (iv) cost savings initiatives; (v) major litigation; and (vi) acquisition costs and other unusual items; (3) interest expense; (4) loss (gain) on debt financing transactions; (5) change in fair value of investments and remeasurement of debt; (6) other expense (income), net including foreign currency (gains), and losses and earnings (loss) from equity investments; and (7) stock-based compensation. AEBITDA is presented as our primary segment measure of profit or loss. Three Months Ended March 31, 2021 Gaming SciPlay iGaming Unallocated and Reconciling Items (1) Total Total revenue $ 244 $ 151 $ 58 $ — $ 453 AEBITDA (2) 107 46 21 (32) $ 142 Reconciling items to Net loss from continuing operations before income taxes: D&A (75) (3) (12) (7) (97) Restructuring and other (3) — (1) (17) (21) Interest expense (121) (121) Gain on remeasurement of debt 25 25 Other income, net 6 6 Stock-based compensation (19) (19) Net loss from continuing operations before income taxes $ (85) (1) Includes amounts not allocated to the business segments (including corporate costs) and items to reconcile the total business segments AEBITDA to our consolidated net loss from continuing operations before income taxes. (2) AEBITDA is described in footnote (2) to the first table in this Note 4.

Restructuring and other

Restructuring and other	3 Months Ended
	Mar. 31, 2022
Restructuring and Related Activities [Abstract]
Restructuring and other	Restructuring and other includes charges or expenses attributable to: (i) employee severance; (ii) management restructuring and related costs; (iii) restructuring and integration; (iv) cost savings initiatives; (v) major litigation; and (vi) acquisition and disposition related costs and other unusual items. The following table summarizes pre-tax restructuring and other costs for the periods presented: Three Months Ended March 31, 2022 2021 Employee severance and related $ 1 $ 1 Strategic review and related (1) 30 17 Restructuring, integration and other 5 3 Total $ 36 $ 21 (1) Includes costs associated with the Lottery and Sports Betting divestitures as described in Notes 1 and 2.

Receivables, Allowance for Cred

Receivables, Allowance for Credit Losses and Credit Quality of Receivables	3 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
Receivables, Allowance for Credit Losses and Credit Quality of Receivables	Receivables The following table summarizes the components of current and long-term receivables, net: As of March 31, 2022 December 31, 2021 Current: Receivables $ 479 $ 475 Allowance for credit losses (48) (52) Current receivables, net 431 423 Long-term: Receivables 19 19 Allowance for credit losses (2) (2) Long-term receivables, net 17 17 Total receivables, net $ 448 $ 440 Allowance for Credit Losses We manage our receivable portfolios using both geography and delinquency as key credit quality indicators. The following summarizes geographical delinquencies of total receivables, net: As of March 31, 2022 Balances over 90 days past due December 31, 2021 Balances over 90 days past due Receivables: U.S. and Canada $ 257 $ 17 $ 321 $ 37 International 241 21 173 44 Total receivables 498 38 494 81 Receivables allowance: U.S. and Canada (21) (4) (18) (6) International (29) (19) (36) (19) Total receivables allowance (50) (23) (54) (25) Receivables, net $ 448 $ 15 $ 440 $ 56 Account balances are charged against the allowances after all internal and external collection efforts have been exhausted and the potential for recovery is considered remote. The activity in our allowance for receivable credit losses for each of the three months ended March 31, 2022 and 2021 is as follows: 2022 2021 Total U.S. and Canada International Total Beginning allowance for credit losses $ (54) $ (18) $ (36) $ (81) Provision (3) (3) — 1 Charge-offs and recoveries 7 — 7 2 Allowance for credit losses as of March 31 $ (50) $ (21) $ (29) $ (78) At March 31, 2022, 3% of our total receivables, net, were past due by over 90 days compared to 13% at December 31, 2021. Credit Quality of Receivables We have certain concentrations of outstanding receivables in international locations that impact our assessment of the credit quality of our receivables. We monitor the macroeconomic and political environment in each of these locations in our assessment of the credit quality of our receivables. The international customers with significant concentrations (generally deemed to be exceeding 10%) of our receivables with terms longer than one year are primarily in the Latin America region (“LATAM”) and are primarily comprised of Mexico, Peru and Argentina. The following table summarizes our LATAM receivables: As of March 31, 2022 Total Current or Not Yet Due Balances Over 90 days Past Due Receivables $ 91 $ 40 $ 51 Allowance for credit losses (28) (14) (14) Receivables, net $ 63 $ 26 $ 37 We continuously review receivables and as information concerning credit quality arise, reassess our expectations of future losses and record an incremental reserve if warranted at that time. Our current allowance for credit losses represents our current expectation of credit losses; however future expectations could change as international unrest or other macro-economic factors impact the financial stability of our customers. The fair value of receivables is estimated by discounting expected future cash flows using current interest rates at which similar loans would be made to borrowers with similar credit ratings and remaining maturities. As of March 31, 2022 and December 31, 2021, the fair value of receivables, net, approximated the carrying value due to contractual terms of receivables generally being less than 24 months.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following: As of March 31, 2022 December 31, 2021 Parts and work-in-process $ 88 $ 70 Finished goods 25 28 Total inventories $ 113 $ 98 Parts and work-in-process include parts for gaming machines and our finished goods inventory primarily consists of gaming machines for sale.

Property and Equipment, net

Property and Equipment, net	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment, net	Property and equipment, net consisted of the following: As of March 31, 2022 December 31, 2021 Land $ 6 $ 6 Buildings and leasehold improvements 56 55 Gaming machinery and equipment 696 712 Furniture and fixtures 21 22 Construction in progress 11 9 Other property and equipment 86 84 Less: accumulated depreciation (679) (675) Total property and equipment, net $ 197 $ 213 Depreciation expense is excluded from Cost of services, Cost of product sales and Other operating expenses and is separately presented within D&A. Three Months Ended March 31, 2022 2021 Depreciation expense $ 28 $ 31

Intangible Assets, net and Good

Intangible Assets, net and Goodwill	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, net and Goodwill	Intangible Assets, net The following tables present certain information regarding our intangible assets as of March 31, 2022 and December 31, 2021: As of March 31, 2022 December 31, 2021 Gross Carrying Value Accumulated Amortization Net Balance Gross Carrying Value Accumulated Amortization Net Balance Amortizable intangible assets: Customer relationships $ 912 $ (468) $ 444 $ 911 $ (445) $ 466 Intellectual property 940 (686) 254 914 (670) 244 Licenses 436 (368) 68 472 (380) 92 Brand names 132 (101) 31 132 (97) 35 Trade names 162 (71) 91 158 (54) 104 Patents and other 12 (7) 5 12 (7) 5 Total intangible assets $ 2,594 $ (1,701) $ 893 $ 2,599 $ (1,653) $ 946 The following reflects intangible amortization expense included within D&A: Three Months Ended March 31, 2022 2021 Amortization expense $ 60 $ 45 The table below reconciles the change in the carrying value of goodwill by business segment for the period from December 31, 2021 to March 31, 2022. Gaming (1) SciPlay iGaming Totals Balance as of December 31, 2021 $ 2,405 $ 126 $ 361 $ 2,892 Acquired goodwill — 93 — 93 Foreign currency adjustments (2) (2) (3) (7) Balance as of March 31, 2022 $ 2,403 $ 217 $ 358 $ 2,978 (1) Accumulated goodwill impairment charges for the Gaming segment as of March 31, 2022 were $989 million.

Software, net

Software, net	3 Months Ended
	Mar. 31, 2022
Capitalized Computer Software, Net [Abstract]
Software, net	Software, net consisted of the following: As of March 31, 2022 December 31, 2021 Software $ 995 $ 996 Accumulated amortization (890) (879) Software, net $ 105 $ 117 The following reflects amortization of software included within D&A: Three Months Ended March 31, 2022 2021 Amortization expense $ 20 $ 21

Long-Term and Other Debt

Long-Term and Other Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-Term and Other Debt	April 2022 Refinancing On April 14, 2022, we completed a series of refinancing transactions, which, combined with other principal payments on the SGI Term Loan B-5 and SGI revolver in April 2022, reduced the outstanding face value of our debt by $4,957 million, from $8,910 million as of March 31, 2022 to $3,953 million immediately after the completion of these transactions. As a part of these transactions, we entered into the new credit agreements, which contains the following debt facilities: • $2,200 million new term loan facility maturing in April 2029. The new term loan facility will bear interest at either (i) Adjusted Term SOFR Rate (as defined in the credit agreement) plus 3.00% per annum or (ii) a base rate plus 2.00% per annum. The new term loan facility amortizes in quarterly installments in aggregate amounts of equal to 1.00% of the original principal amount per year; and • $750 million revolving credit facility maturing in April 2027. The new revolving credit facility will bear interest at either (i) Adjusted Term SOFR Rate (or an alternative benchmark rate for non-US dollar borrowings) plus 2.00% per annum or (ii) a base rate plus 1.00% per annum, with one 0.25% per annum step-up and one 0.25% per annum step-down based on SGI’s first lien net leverage ratio at the end of future fiscal quarters. With the issuance of the new term loan facility and using the proceeds from the divestitures of the Lottery Business (see Note 1), we retired and redeemed the following outstanding debt and paid accrued and unpaid interest thereon plus related premiums, fees and expenses: Debt instrument Interest rate Maturity Face value as of March 31, 2022 Paid interest Premium, other fees and expenses SGI Term Loan B-5 variable 2024 $ 4,008 $ 5 $ 33 Senior Secured Notes 5.000% 2025 1,250 31 31 Senior Secured Euro Notes 3.375% 2026 361 2 6 Senior Unsecured Euro Notes 5.500% 2026 278 3 8 Senior Unsecured Notes 8.250% 2026 1,100 7 45 Total $ 6,997 $ 48 $ 123 The new credit facilities are subject to customary affirmative covenants and negative covenants as well as a financial covenant. The financial covenant is solely for the benefit of the new revolving facility, is tested at the end of each fiscal quarter if the outstanding borrowings (excluding up to $5 million of undrawn letters of credit and any cash collateralized letters of credit) under the new revolving facility exceed 30% of the commitments under the new revolving facility, and requires that the Company not be in excess of a maximum consolidated net first lien leverage ratio of 4.50:1.00. Outstanding Debt and Finance Leases The following table reflects our outstanding debt (in order of priority and maturity): As of March 31, 2022 December 31, 2021 Final Maturity Rate(s) Face value Unamortized debt discount/premium and deferred financing costs, net Book value Book value Senior Secured Credit Facilities: SGI Revolver 2024 variable $ 160 $ — $ 160 $ — SGI Term Loan B-5 2024 variable 4,008 (32) 3,976 3,982 SciPlay Revolver 2024 variable — — — — SGI Senior Notes: 2025 Secured Notes (1) 2025 5.000% 1,250 (10) 1,240 1,240 2026 Secured Euro Notes (2) 2026 3.375% 361 (3) 358 364 2025 Unsecured Notes 2025 8.625% 550 (6) 544 544 2026 Unsecured Euro Notes (2) 2026 5.500% 278 (2) 276 280 2026 Unsecured Notes 2026 8.250% 1,100 (10) 1,090 1,090 2028 Unsecured Notes 2028 7.000% 700 (8) 692 692 2029 Unsecured Notes 2029 7.250% 500 (6) 494 494 Other (3) 2023 4.089% 3 — 3 4 Total long-term debt outstanding $ 8,910 $ (77) $ 8,833 $ 8,690 Less: current portion of long-term debt (44) (44) Long-term debt, excluding current portion $ 8,789 $ 8,646 Fair value of debt (4) $ 9,058 (1) We entered into certain cross-currency interest rate swap agreements to achieve more attractive interest rates by effectively converting $460 million of the fixed-rate, U.S. Dollar-denominated 2025 Secured Notes, including the semi-annual interest payments through October 2023, to a fixed-rate Euro-denominated debt, with a fixed annual weighted average interest rate of approximately 2.946%. These cross-currency swaps have been designated as a hedge of our net investment in certain subsidiaries. (2) We designated a portion of our 2026 Secured Euro Notes as a net investment non-derivative hedge of our investments in certain of our international subsidiaries that use the Euro as their functional currency in order to reduce the volatility in our operating results caused by the change in foreign currency exchange rates of the Euro relative to the U.S. Dollar (see Note 12 for additional information). The total change in the face value of the 2026 Secured Euro Notes and 2026 Unsecured Euro Notes due to changes in foreign currency exchange rates since the issuance was a reduction of $73 million, of which a gain of $7 million was recognized on remeasurement of debt in the Consolidated Statements of Operations for the three months ended March 31, 2022. (3) Primarily comprised of certain revenue transactions presented as debt in accordance with ASC 470. (4) Fair value of our fixed rate and variable interest rate debt is classified within Level 2 in the fair value hierarchy and has been calculated based on the quoted market prices of our securities. We were in compliance with the financial covenants under all debt agreements as of March 31, 2022 (for information regarding our financial covenants of all debt agreements, see Note 15 in our 2021 10-K). For additional information regarding the terms of our credit facilities, Secured Notes and Unsecured Notes, see Note 15 in our 2021 10-K.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value Measurements	The fair value of our financial assets and liabilities is determined by reference to market data and other valuation techniques as appropriate. We believe the fair value of our financial instruments, which are principally cash and cash equivalents, restricted cash, receivables, other current assets, accounts payable and accrued liabilities, approximates their recorded values. Our assets and liabilities measured at fair value on a recurring basis are described below. Derivative Financial Instruments As of March 31, 2022, we held the following derivative instruments that were accounted for pursuant to ASC 815: Interest Rate Swap Contracts We used interest rate swap contracts as described below to mitigate gains or losses associated with the change in expected cash flows due to fluctuations in interest rates on our variable rate debt. In February 2018, we entered into interest rate swap contracts to hedge a portion of our interest expense associated with our variable rate debt to effectively fix the interest rate that we pay. These interest rate swap contracts were designated as cash flow hedges under ASC 815. We paid interest at a weighted-average fixed rate of 2.4418% and received interest at a variable rate equal to one-month LIBOR. The total notional amount of interest rate swaps was $800 million. These hedges matured in February 2022. In April 2022, we entered into the new interest rate swap contracts with $700 million notional amount to hedge a portion of our interest expense associated with our variable rate debt to effectively fix the interest rate that we will pay. All gains and losses from these hedges were recorded in Other comprehensive income (loss) until the future underlying payment transactions occur. Any realized gains or losses resulting from the hedges were recognized (together with the hedged transaction) as Interest expense. We estimated the fair value of our interest rate swap contracts by discounting the future cash flows of both the fixed rate and variable rate interest payments based on market yield curves. The inputs used to measure the fair value of our interest rate swap contracts were categorized as Level 2 in the fair value hierarchy as established by ASC 820. The following table shows the Gain (loss) and Interest expense recognized on our interest rate swap contracts: Three Months Ended March 31, 2022 2021 Gain recorded in accumulated other comprehensive loss, net of tax $ 3 $ 5 Interest expense recorded related to interest rate swap contracts 3 5 The following table shows the effect of interest rate swap contracts designated as cash flow hedges in the consolidated statements of operations: Three Months Ended March 31, 2022 2021 Interest expense Total interest expense which reflects the effects of cash flow hedges $ (116) $ (121) Hedged item (3) (5) Derivative designated as hedging instrument — — Cross-Currency Interest Rate Swaps We entered into certain cross-currency interest rate swap agreements to achieve more beneficial interest rates by effectively converting $460 million of our fixed-rate U.S. Dollar-denominated 2025 Secured Notes, including the semi-annual interest payments through October 2023, to fixed-rate Euro-denominated debt, with a fixed annual weighted average interest rate of approximately 2.946%. We have designated these cross-currency interest rate swap agreements as a net investment hedge of our investments in certain of our international subsidiaries that use the Euro as their functional currency in order to reduce the volatility in our operating results caused by the changes in foreign currency exchange rates of the Euro relative to the U.S. Dollar. We use the spot method to measure the effectiveness of our net investment hedge. Under this method, for each reporting period, the change in the fair value of the $460 million cross-currency interest rate swaps is reported in Foreign currency translation gain (loss) in Accumulated other comprehensive loss. The cross-currency basis spread (along with other components of the cross-currency swap’s fair value excluded from the spot method effectiveness assessment) are amortized and recorded to Interest expense. We evaluate the effectiveness of our net investment hedge at the beginning of each quarter. In April of 2022 and as a result of the April 2022 Refinancing, we settled our cross-currency interest rate swaps and received approximately $50 million in cash proceeds. The following table shows the fair value of our hedges: As of Balance Sheet Line Item March 31, 2022 December 31, 2021 Interest rate swaps (1) Other liabilities $ — $ 3 Cross-currency interest rate swaps (1)(2) Other assets 46 42 (1) The inputs used to measure the fair value of our interest rate swap contracts were categorized as Level 2 in the fair value hierarchy. (2) A gain of $4 million for the three months ended March 31, 2022 is reflected in Foreign currency translation gain (loss) in Other comprehensive gain (loss). Net Investment Non-derivative Hedge — 2026 Secured Euro Notes For the first quarter of 2022, we designated $208 million of our 2026 Secured Euro Notes as a net investment non-derivative hedge of our investments in certain of our international subsidiaries that use the Euro as their functional currency in order to reduce the volatility in our results caused by the changes in foreign currency exchange rates of the Euro relative to the U.S. Dollar. We use the spot method to measure the effectiveness of our net investment non-derivative hedge. Under this method, for each reporting period, the change in the hedged portion of the carrying value of the 2026 Secured Euro Notes due to remeasurement is reported in Foreign currency translation gain (loss) in Other comprehensive loss, and the remaining remeasurement change is recognized in (Loss) gain on remeasurement of debt in our consolidated statements of operations. We evaluate the effectiveness of our net investment non-derivative hedge at the beginning of each quarter, and the inputs used to measure the fair value of this non-derivative hedge are categorized as Level 2 in the fair value hierarchy. Contingent Acquisition Consideration Liabilities In connection with our acquisitions, we have recorded certain contingent consideration liabilities (including the redeemable non-controlling interest related to Alictus), of which the values are primarily based on reaching certain earnings-based metrics. The related liabilities were recorded at fair value on their respective acquisition dates as a part of the consideration transferred and are remeasured each reporting period (other than for the redeemable non-controlling interest, which is remeasured based on its redemption value). The inputs used to measure the fair value of our liabilities are categorized as Level 3 in the fair value hierarchy. Contingent acquisition consideration liabilities (including deferred purchase price and redeemable non-controlling interest for Alictus) as of March 31, 2022, are $72 million, of which $19 million is included in Accrued liabilities with the remainder included in Other long-term liabilities, with the increase primarily related to the Alictus acquisition described in Note 1. Contingent acquisition consideration liabilities as of December 31, 2021, were $51 million, of which $3 million was included in Accrued liabilities with the remaining balance included in Other long-term liabilities.

Stockholders' Deficit

Stockholders' Deficit	3 Months Ended
	Mar. 31, 2022
Compensation Related Costs [Abstract]
Stockholders' Deficit	Changes in Stockholders’ Deficit The following tables present certain information regarding our stockholders’ deficit as of March 31, 2022 and March 31, 2021: Three Months Ended March 31, 2022 Common Stock Additional Paid in Capital Accumulated Loss Treasury Stock Accumulated Other Comprehensive Loss Noncontrolling Interest Total January 1, 2022 $ 1 $ 1,337 $ (3,158) $ (175) $ (261) $ 150 $ (2,106) Settlement of liability awards and other, net — 43 — — — — 43 Vesting of RSUs, net of tax withholdings — (31) — — — — (31) Purchase of treasury stock — — — (51) — — (51) Stock-based compensation — 17 — — — — 17 Net income — — 26 — — 2 28 Other comprehensive loss — — — — (37) — (37) March 31, 2022 $ 1 $ 1,366 $ (3,132) $ (226) $ (298) $ 152 $ (2,137) Three Months Ended March 31, 2021 Common Stock Additional Paid in Capital Accumulated Loss Treasury Stock Accumulated Other Comprehensive Loss Noncontrolling Interest Total January 1, 2021 $ 1 $ 1,268 $ (3,529) $ (175) $ (218) $ 129 $ (2,524) Vesting of RSUs, net of tax withholdings and other — (13) — — — — (13) Stock-based compensation — 17 — — — — 17 Net loss — — (15) — — 6 (9) Other comprehensive income — — — — 8 — 8 March 31, 2021 $ 1 $ 1,272 $ (3,544) $ (175) $ (210) $ 135 $ (2,521) Stock Based Compensation The following reflects total stock-based compensation expense recognized under all programs in our continuing operations: Three Months Ended March 31, 2022 2021 Related to L&W stock options $ — $ 6 Related to L&W RSUs 12 11 Related to SciPlay RSUs 3 2 Total $ 15 $ 19 Restricted Stock Units A summary of the changes in RSUs outstanding under our equity-based compensation plans during the three months ended March 31, 2022 is presented below: Number of Restricted Stock Units Weighted Average Grant Date Fair Value Unvested RSUs as of December 31, 2021 2.7 $ 32.03 Granted 1.4 $ 58.68 Vested (1.6) $ 38.28 Cancelled — $ 37.07 Unvested RSUs as of March 31, 2022 2.5 $ 42.64 The weighted-average grant date fair value of RSUs granted during the three months ended March 31, 2022 and 2021 was $58.68 and $43.63, respectively. The fair value of each RSU grant is based on the market value of our common stock at the time of grant. At March 31, 2022, we had $85 million in total unrecognized stock-based compensation expense relating to unvested RSUs that will be amortized over a weighted-average period of approximately two years, of which $9 million related to employees of discontinued operations. The fair value at vesting date of RSUs vested during the three months ended March 31, 2022 and 2021 was $92.4 million and $42.5 million, respectively. Share Repurchase Program

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	We consider new evidence (both positive and negative) at each reporting date that could affect our view of the future realization of deferred tax assets. We evaluate information such as historical financial results, historical taxable income, projected future taxable income, expected timing of the reversals of existing temporary differences and available prudent and feasible tax planning strategies in our analysis. Based on the available evidence, valuation allowances in certain U.S. and non-U.S. jurisdictions remain consistent as of March 31, 2022. Our income tax expense (including discrete items) was $3 million for both of the three months ended March 31, 2022 and March 31, 2021. In 2022, our effective tax rate differs from the U.S. statutory rate of 21% primarily as a result of not benefiting year to date losses in continuing operations in accordance with the intra-period tax expense/benefit allocation rules as generally prescribed under ASC 740-20. In all periods, we recorded tax expense relative to pre-tax earnings in jurisdictions without valuation allowances, including our 19% noncontrolling interest in SciPlay.

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	Our total operating lease expense for both of the three months ended March 31, 2022 and March 31, 2021 was $6 million. The total amount of variable and short-term lease payments was immaterial for all periods presented. Supplemental balance sheet and cash flow information related to operating leases is as follows: As of March 31, 2022 December 31, 2021 Operating lease right-of-use assets (1) $ 50 $ 51 Accrued liabilities 16 16 Operating lease liabilities 40 40 Total operating lease liabilities $ 56 $ 56 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases for the three month periods ended March 31, 2022 and 2021, respectively $ 6 $ 5 Weighted average remaining lease term, units in years 5 4 Weighted average discount rate 5 % 5 % (1) Operating lease right-of-use assets obtained in exchange for lease obligations were immaterial. Lease liability maturities: Remainder of 2022 2023 2024 2025 2026 Thereafter Less Imputed Interest Total Operating leases $ 14 $ 16 $ 13 $ 10 $ 6 $ 2 $ (5) $ 56 As of March 31, 2022, we did not have material additional operating leases that have not yet commenced.

Litigation

Litigation	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Litigation	We are involved in various legal proceedings, which are described in Note 20 within our 2021 10-K. There have been no material changes to these matters since the 2021 10-K was filed with the SEC on March 1, 2022, except as described below. We record an accrual for legal contingencies when it is both probable that a liability has been incurred and the amount or range of the loss can be reasonably estimated (although, as discussed below, there may be an exposure to loss in excess of the accrued liability). We evaluate our accruals for legal contingencies at least quarterly and, as appropriate, establish new accruals or adjust existing accruals to reflect (1) the facts and circumstances known to us at the time, including information regarding negotiations, settlements, rulings and other relevant events and developments, (2) the advice and analyses of counsel and (3) the assumptions and judgment of management. Legal costs associated with our legal proceedings are expensed as incurred. We had accrued liabilities of $27 million for all of our legal matters that were contingencies both as of March 31, 2022 and December 31, 2021. Substantially all of our legal contingencies are subject to significant uncertainties and, therefore, determining the likelihood of a loss and/or the measurement of any loss involves a series of complex judgments about future events. Consequently, the ultimate outcomes of our legal contingencies could result in losses in excess of amounts we have accrued. We may be unable to estimate a range of possible losses for some matters pending against us or our subsidiaries, even when the amount of damages claimed against us or our subsidiaries is stated because, among other things: (1) the claimed amount may be exaggerated or unsupported; (2) the claim may be based on a novel legal theory or involve a large number of parties; (3) there may be uncertainty as to the likelihood of a class being certified or the ultimate size of the class; (4) there may be uncertainty as to the outcome of pending appeals or motions; (5) the matter may not have progressed sufficiently through discovery or there may be significant factual or legal issues to be resolved or developed; and/or (6) there may be uncertainty as to the enforceability of legal judgments and outcomes in certain jurisdictions. Other matters have progressed sufficiently that we are able to estimate a range of possible loss. For those legal contingencies disclosed in Note 20 in our 2021 10-K and this Note 16 as well as those related to the previously disclosed settlement agreement entered into in February 2015 with SNAI S.p.a., as to which a loss is reasonably possible, whether in excess of a related accrued liability or where there is no accrued liability, and for which we are able to estimate a range of possible loss, the current estimated range is up to approximately $13 million in excess of the accrued liabilities (if any) related to those legal contingencies. This aggregate range represents management’s estimate of additional possible loss in excess of the accrued liabilities (if any) with respect to these matters based on currently available information, including any damages claimed by the plaintiffs, and is subject to significant judgment and a variety of assumptions and inherent uncertainties. For example, at the time of making an estimate, management may have only preliminary, incomplete, or inaccurate information about the facts underlying a claim; its assumptions about the future rulings of the court or other tribunal on significant issues, or the behavior and incentives of adverse parties, regulators, indemnitors or co‑defendants, may prove to be wrong; and the outcomes it is attempting to predict are often not amenable to the use of statistical or other quantitative analytical tools. In addition, from time to time an outcome may occur that management had not accounted for in its estimate because it had considered that outcome to be remote. Furthermore, as noted above, the aggregate range does not include any matters for which we are not able to estimate a range of possible loss. Accordingly, the estimated aggregate range of possible loss does not represent our maximum loss exposure. Any such losses could have a material adverse impact on our results of operations, cash flows or financial condition. The legal proceedings underlying the estimated range will change from time to time, and actual results may vary significantly from the current estimate. Colombia litigation Our subsidiary, SGI, owned a minority interest in Wintech de Colombia S.A., or Wintech (now liquidated), which formerly operated the Colombian national lottery under a contract with Empresa Colombiana de Recursos para la Salud, S.A. (together with its successors, “Ecosalud”), an agency of the Colombian government. The contract provided for a penalty against Wintech, SGI and the other shareholders of Wintech of up to $5.0 million if certain levels of lottery sales were not achieved. In addition, SGI delivered to Ecosalud a $4.0 million surety bond as a further guarantee of performance under the contract. Wintech started the instant lottery in Colombia but, due to difficulties beyond its control, including, among other factors, social and political unrest in Colombia, frequently interrupted telephone service and power outages, and competition from another lottery being operated in a province of Colombia that we believe was in violation of Wintech’s exclusive license from Ecosalud, the projected sales level was not met for the year ended June 30, 1993. In 1993, Ecosalud issued a resolution declaring that the contract was in default. In 1994, Ecosalud issued a liquidation resolution asserting claims for compensation and damages against Wintech, SGI and other shareholders of Wintech for, among other things, realization of the full amount of the penalty, plus interest, and the amount of the bond. SGI filed separate actions opposing each resolution with the Tribunal Contencioso of Cundinamarca in Colombia (the “Tribunal”), which upheld both resolutions. SGI appealed each decision to the Council of State. In May 2012, the Council of State upheld the contract default resolution, which decision was notified to us in August 2012. In October 2013, the Council of State upheld the liquidation resolution, which decision was notified to us in December 2013. In July 1996, Ecosalud filed a lawsuit against SGI in the U.S. District Court for the Northern District of Georgia asserting many of the same claims asserted in the Colombia proceedings, including breach of contract, and seeking damages. In March 1997, the District Court dismissed Ecosalud’s claims. Ecosalud appealed the decision to the U.S. Court of Appeals for the Eleventh Circuit. The Court of Appeals affirmed the District Court’s decision in 1998. In June 1999, Ecosalud filed a collection proceeding against SGI to enforce the liquidation resolution and recover the claimed damages. In May 2013, the Tribunal denied SGI’s merit defenses to the collection proceeding and issued an order of payment of approximately 90 billion Colombian pesos, or approximately $30.2 million, plus default interest (potentially accrued since 1994 at a 12% statutory interest rate). SGI filed an appeal to the Council of State, and on December 10, 2020, the Council of State issued a ruling affirming the Tribunal’s decision. On December 16, 2020, SGI filed a motion for clarification of the Council of State’s ruling, which was denied on April 15, 2021. On April 22, 2021, SGI filed a motion for reconsideration relating to that decision, which the Council of State denied on February 21, 2022. SGI believes it has various defenses, including on the merits, against Ecosalud’s claims. Although we believe these claims will not result in a material adverse effect on our consolidated results of operations, cash flows or financial position, it is not feasible to predict the final outcome, and we cannot assure that these claims will not ultimately be resolved adversely to us or result in material liability. For additional information regarding our pending litigation matters, see Note 20 in our 2021 10-K.

Description of the Business a_2

Description of the Business and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. GAAP. The accompanying condensed consolidated financial statements include the accounts of L&W, its wholly owned subsidiaries, and those subsidiaries in which we have a controlling financial interest. Investments in other entities in which we do not have a controlling financial interest but we exert significant influence are accounted for in our consolidated financial statements using the equity method of accounting. All intercompany balances and transactions have been eliminated in consolidation.
Principles of Consolidation	In the opinion of L&W and its management, we have made all adjustments necessary to present fairly our consolidated financial position, results of operations, comprehensive loss and cash flows for the periods presented. Such adjustments are of a normal, recurring nature. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our 2021 10-K. Interim results of operations are not necessarily indicative of results of operations to be expected for a full year.
New Accounting Guidance	The revenue and earning associated with the above acquisition are immaterial to our current and historical consolidated financial statements. In April 2022, we acquired Playzido, which will expand our iGaming content offering. New Accounting Guidance - Not Yet Adopted The FASB issued ASU No. 2020-04 and subsequently ASU No. 2021-01, Reference Rate Reform (Topic 848) in March 2020 and January 2021, respectively. The new guidance provides optional expedients and exceptions for applying U.S. GAAP to contract modifications and hedging relationships, including derivative instruments impacted by changes in the interest rates used for discounting cash flows for computing variable margin settlements, subject to meeting certain criteria, that reference LIBOR or other reference rates expected to be discontinued by June 2023. The ASUs establish certain contract modification principles that entities can apply in other areas that may be affected by reference rate reform and certain elective hedge accounting expedients and exceptions. The ASUs may be applied prospectively. Based on our preliminary assessment completed to date, we do not expect the adoption of this guidance to have a significant impact on our consolidated financial statements. We do not expect that any other recently issued accounting guidance will have a significant effect on our consolidated financial statements.
Revenue Recognition	The timing of revenue recognition, billings and cash collections results in billed receivables, unbilled receivables (contract assets), and customer advances and deposits (contract liabilities) on our consolidated balance sheets. Other than contracts with customers with financing arrangements exceeding 12 months, revenue recognition is generally proximal to conversion to cash.

Description of the Business a_3

Description of the Business and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Business Acquisitions, by Acquisition	Total Consideration Cash paid, net of cash acquired (1) Redeemable non-controlling interest (2) Allocation of purchase price to Intangible assets, net (3) Weighted average useful life of acquired intangible assets Excess purchase price allocated to Goodwill (4) $ 134 $ 106 $ 21 $ 34 6 Years $ 93 (1) Exclusive of $6 million acquired in short term investments. (2) The fair value of the redeemable non-controlling interest was determined using a Monte Carlo simulation model with a discount rate ranging between 2% and 3% and primarily based on reaching certain revenue and earnings-based metrics, with a maximum payout of up to $200 million. (3) Intangible assets primarily consist of intellectual property consisting of games technology and content and trade name. The fair value of these intangible assets was determined using an income approach method and level 3 inputs in the hierarchy as established by ASC 820. The discount rate used in the valuation analysis was 18%, and the royalty rate used was 1% for the valuation of the “Alictus” trade name and 21% for the valuation of the acquired game content and related technology. (4) The factors contributing to the recognition of acquisition goodwill are based on game portfolio diversification, expected synergies, assembled workforce and other strategic benefits. None of the resultant goodwill is expected to be deductible for income tax purposes.

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	The summarized results of our discontinued operations were as follows: Three Months Ended March 31, 2022 2021 Total revenue $ 288 $ 276 Total cost of revenue (1) 150 139 Other operating expenses (2) 41 60 Operating income 97 77 Total other income, net 8 2 Net income from discontinued operations before income taxes 105 79 Income tax expense (10) — Net income from discontinued operations, net of tax included in the consolidated statement of operations $ 95 $ 79 (1) Excludes D&A. (2) Includes D&A of $— million and $26 million for the three months ended March 31, 2022 and 2021, respectively, along with stock-based compensation of $7 million and $4 million for the three months ended March 31, 2022 and 2021, respectively. Due to the discontinued operations classification of these businesses as of the third quarter of 2021, the D&A for these businesses has ceased. The following table summarizes the major classes of assets and liabilities of businesses held for sale. As of March 31, 2022 December 31, 2021 ASSETS Cash and cash equivalents $ 86 $ 44 Restricted cash 31 22 Receivables, net 194 214 Inventories 113 94 Prepaid expenses deposits and other current assets 134 123 Total current assets of businesses held for sale 558 497 Property and equipment, net 229 217 Intangible assets and software, net 334 304 Goodwill 623 623 Equity investments 249 251 Other assets 82 82 Total non-current assets of businesses held for sale 1,517 1,477 Total assets of businesses held for sale $ 2,075 $ 1,974 LIABILITIES Accounts payable $ 103 $ 95 Accrued liabilities and other 197 187 Total current liabilities of businesses held for sale 300 282 Operating lease liabilities 37 34 Other 99 90 Total non-current liabilities of businesses held for sale 136 124 Total liabilities of businesses held for sale $ 436 $ 406

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Summary of Revenues by Type	The following table disaggregates revenues by type within each of our business segments: Three Months Ended March 31, 2022 2021 Gaming Gaming operations (1) $ 155 $ 113 Gaming machine sales 103 55 Gaming systems 51 42 Table products 46 34 Total $ 355 $ 244 SciPlay Mobile in-app purchases $ 140 $ 133 Web in-app purchases and other (2) 18 18 Total $ 158 $ 151 iGaming $ 59 $ 58 (1) Gaming operations revenue for the three months ended March 31, 2021 benefited from $6 million U.K. fixed odds betting terminals (“FOBT”) recovery received from certain U.K. customers for value-added tax charged on FOBTs (“FOBT recovery”) related to a 2020 U.K. court ruling associated with overcharging of value-added tax for gaming operators that consequently reduced our net gaming revenues in those affected prior periods related to these customers and arrangements. (2) Other primarily represents revenue generated from providing advertising platforms with access to our game software platform, which facilitates the placement of advertising inventory, which was not material in the periods presented.
Summary of Balances in Receivables and Contract Asset Accounts	The following table summarizes the activity in our contract liabilities for the reporting period: Three Months Ended March 31, 2022 Contract liability balance, beginning of period (1) $ 37 Liabilities recognized during the period 5 Amounts recognized in revenue from beginning balance (5) Contract liability balance, end of period (1) $ 37 (1) Contract liabilities are included within Accrued liabilities and Other long-term liabilities in our consolidated balance sheets. Receivables Contract Assets (1) Beginning of period balance $ 440 $ 19 End of period balance, March 31, 2022 448 25 (1) Contract assets are included primarily within Prepaid expenses, deposits and other current assets in our consolidated balance sheets.

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Operating Information by Segment	Three Months Ended March 31, 2022 Gaming SciPlay iGaming Unallocated and Reconciling Items (1) Total Total revenue $ 355 $ 158 59 $ — $ 572 AEBITDA (2) 171 44 21 (34) $ 202 Reconciling items to Net loss from continuing operations before income taxes: D&A (83) (5) (14) (6) (108) Restructuring and other (3) (2) (1) (30) (36) Interest expense (116) (116) Gain on remeasurement of debt 7 7 Other income, net 2 2 Stock-based compensation (15) (15) Net loss from continuing operations before income taxes $ (64) (1) Includes amounts not allocated to the business segments (including corporate costs) and items to reconcile the total business segments AEBITDA to our consolidated net loss from continuing operations before income taxes. (2) AEBITDA is reconciled to net loss from continuing operations before income taxes with the following adjustments: (1) depreciation and amortization expense and impairment charges (including goodwill impairments); (2) restructuring and other, which includes charges or expenses attributable to: (i) employee severance; (ii) management restructuring and related costs; (iii) restructuring and integration; (iv) cost savings initiatives; (v) major litigation; and (vi) acquisition costs and other unusual items; (3) interest expense; (4) loss (gain) on debt financing transactions; (5) change in fair value of investments and remeasurement of debt; (6) other expense (income), net including foreign currency (gains), and losses and earnings (loss) from equity investments; and (7) stock-based compensation. AEBITDA is presented as our primary segment measure of profit or loss. Three Months Ended March 31, 2021 Gaming SciPlay iGaming Unallocated and Reconciling Items (1) Total Total revenue $ 244 $ 151 $ 58 $ — $ 453 AEBITDA (2) 107 46 21 (32) $ 142 Reconciling items to Net loss from continuing operations before income taxes: D&A (75) (3) (12) (7) (97) Restructuring and other (3) — (1) (17) (21) Interest expense (121) (121) Gain on remeasurement of debt 25 25 Other income, net 6 6 Stock-based compensation (19) (19) Net loss from continuing operations before income taxes $ (85) (1) Includes amounts not allocated to the business segments (including corporate costs) and items to reconcile the total business segments AEBITDA to our consolidated net loss from continuing operations before income taxes. (2) AEBITDA is described in footnote (2) to the first table in this Note 4.

Restructuring and other (Tables

Restructuring and other (Tables)	3 Months Ended
	Mar. 31, 2022
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Other Costs	Three Months Ended March 31, 2022 2021 Employee severance and related $ 1 $ 1 Strategic review and related (1) 30 17 Restructuring, integration and other 5 3 Total $ 36 $ 21 (1) Includes costs associated with the Lottery and Sports Betting divestitures as described in Notes 1 and 2.

Receivables, Allowance for Cr_2

Receivables, Allowance for Credit Losses and Credit Quality of Receivables (Tables)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Receivables [Abstract]
Summary of Components of Accounts and Notes Receivable, Net	The following table summarizes the components of current and long-term receivables, net: As of March 31, 2022 December 31, 2021 Current: Receivables $ 479 $ 475 Allowance for credit losses (48) (52) Current receivables, net 431 423 Long-term: Receivables 19 19 Allowance for credit losses (2) (2) Long-term receivables, net 17 17 Total receivables, net $ 448 $ 440 As of March 31, 2022 Balances over 90 days past due December 31, 2021 Balances over 90 days past due Receivables: U.S. and Canada $ 257 $ 17 $ 321 $ 37 International 241 21 173 44 Total receivables 498 38 494 81 Receivables allowance: U.S. and Canada (21) (4) (18) (6) International (29) (19) (36) (19) Total receivables allowance (50) (23) (54) (25) Receivables, net $ 448 $ 15 $ 440 $ 56 As of March 31, 2022 Total Current or Not Yet Due Balances Over 90 days Past Due Receivables $ 91 $ 40 $ 51 Allowance for credit losses (28) (14) (14) Receivables, net $ 63 $ 26 $ 37
Accounts Receivable, Allowance for Credit Loss	The activity in our allowance for receivable credit losses for each of the three months ended March 31, 2022 and 2021 is as follows: 2022 2021 Total U.S. and Canada International Total Beginning allowance for credit losses $ (54) $ (18) $ (36) $ (81) Provision (3) (3) — 1 Charge-offs and recoveries 7 — 7 2 Allowance for credit losses as of March 31 $ (50) $ (21) $ (29) $ (78)	The activity in our allowance for receivable credit losses for each of the three months ended March 31, 2022 and 2021 is as follows: 2022 2021 Total U.S. and Canada International Total Beginning allowance for credit losses $ (54) $ (18) $ (36) $ (81) Provision (3) (3) — 1 Charge-offs and recoveries 7 — 7 2 Allowance for credit losses as of March 31 $ (50) $ (21) $ (29) $ (78)

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories consisted of the following: As of March 31, 2022 December 31, 2021 Parts and work-in-process $ 88 $ 70 Finished goods 25 28 Total inventories $ 113 $ 98

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Components of Property and Equipment	Property and equipment, net consisted of the following: As of March 31, 2022 December 31, 2021 Land $ 6 $ 6 Buildings and leasehold improvements 56 55 Gaming machinery and equipment 696 712 Furniture and fixtures 21 22 Construction in progress 11 9 Other property and equipment 86 84 Less: accumulated depreciation (679) (675) Total property and equipment, net $ 197 $ 213 Depreciation expense is excluded from Cost of services, Cost of product sales and Other operating expenses and is separately presented within D&A. Three Months Ended March 31, 2022 2021 Depreciation expense $ 28 $ 31

Intangible Assets, net and Go_2

Intangible Assets, net and Goodwill (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite and Indefinite-lived Intangible Assets	The following tables present certain information regarding our intangible assets as of March 31, 2022 and December 31, 2021: As of March 31, 2022 December 31, 2021 Gross Carrying Value Accumulated Amortization Net Balance Gross Carrying Value Accumulated Amortization Net Balance Amortizable intangible assets: Customer relationships $ 912 $ (468) $ 444 $ 911 $ (445) $ 466 Intellectual property 940 (686) 254 914 (670) 244 Licenses 436 (368) 68 472 (380) 92 Brand names 132 (101) 31 132 (97) 35 Trade names 162 (71) 91 158 (54) 104 Patents and other 12 (7) 5 12 (7) 5 Total intangible assets $ 2,594 $ (1,701) $ 893 $ 2,599 $ (1,653) $ 946
Schedule of Amortization Expense	The following reflects intangible amortization expense included within D&A: Three Months Ended March 31, 2022 2021 Amortization expense $ 60 $ 45 The following reflects amortization of software included within D&A: Three Months Ended March 31, 2022 2021 Amortization expense $ 20 $ 21
Reconciliation of the Carrying Amount of Goodwill, by Business Segment	The table below reconciles the change in the carrying value of goodwill by business segment for the period from December 31, 2021 to March 31, 2022. Gaming (1) SciPlay iGaming Totals Balance as of December 31, 2021 $ 2,405 $ 126 $ 361 $ 2,892 Acquired goodwill — 93 — 93 Foreign currency adjustments (2) (2) (3) (7) Balance as of March 31, 2022 $ 2,403 $ 217 $ 358 $ 2,978 (1) Accumulated goodwill impairment charges for the Gaming segment as of March 31, 2022 were $989 million.

Software, net (Tables)

Software, net (Tables)	3 Months Ended
	Mar. 31, 2022
Capitalized Computer Software, Net [Abstract]
Schedule of Software, net	Software, net consisted of the following: As of March 31, 2022 December 31, 2021 Software $ 995 $ 996 Accumulated amortization (890) (879) Software, net $ 105 $ 117
Schedule of Amortization Expense	The following reflects intangible amortization expense included within D&A: Three Months Ended March 31, 2022 2021 Amortization expense $ 60 $ 45 The following reflects amortization of software included within D&A: Three Months Ended March 31, 2022 2021 Amortization expense $ 20 $ 21

Long-Term and Other Debt (Table

Long-Term and Other Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Outstanding Debt	The following table reflects our outstanding debt (in order of priority and maturity): As of March 31, 2022 December 31, 2021 Final Maturity Rate(s) Face value Unamortized debt discount/premium and deferred financing costs, net Book value Book value Senior Secured Credit Facilities: SGI Revolver 2024 variable $ 160 $ — $ 160 $ — SGI Term Loan B-5 2024 variable 4,008 (32) 3,976 3,982 SciPlay Revolver 2024 variable — — — — SGI Senior Notes: 2025 Secured Notes (1) 2025 5.000% 1,250 (10) 1,240 1,240 2026 Secured Euro Notes (2) 2026 3.375% 361 (3) 358 364 2025 Unsecured Notes 2025 8.625% 550 (6) 544 544 2026 Unsecured Euro Notes (2) 2026 5.500% 278 (2) 276 280 2026 Unsecured Notes 2026 8.250% 1,100 (10) 1,090 1,090 2028 Unsecured Notes 2028 7.000% 700 (8) 692 692 2029 Unsecured Notes 2029 7.250% 500 (6) 494 494 Other (3) 2023 4.089% 3 — 3 4 Total long-term debt outstanding $ 8,910 $ (77) $ 8,833 $ 8,690 Less: current portion of long-term debt (44) (44) Long-term debt, excluding current portion $ 8,789 $ 8,646 Fair value of debt (4) $ 9,058 (1) We entered into certain cross-currency interest rate swap agreements to achieve more attractive interest rates by effectively converting $460 million of the fixed-rate, U.S. Dollar-denominated 2025 Secured Notes, including the semi-annual interest payments through October 2023, to a fixed-rate Euro-denominated debt, with a fixed annual weighted average interest rate of approximately 2.946%. These cross-currency swaps have been designated as a hedge of our net investment in certain subsidiaries. (2) We designated a portion of our 2026 Secured Euro Notes as a net investment non-derivative hedge of our investments in certain of our international subsidiaries that use the Euro as their functional currency in order to reduce the volatility in our operating results caused by the change in foreign currency exchange rates of the Euro relative to the U.S. Dollar (see Note 12 for additional information). The total change in the face value of the 2026 Secured Euro Notes and 2026 Unsecured Euro Notes due to changes in foreign currency exchange rates since the issuance was a reduction of $73 million, of which a gain of $7 million was recognized on remeasurement of debt in the Consolidated Statements of Operations for the three months ended March 31, 2022. (3) Primarily comprised of certain revenue transactions presented as debt in accordance with ASC 470. (4) Fair value of our fixed rate and variable interest rate debt is classified within Level 2 in the fair value hierarchy and has been calculated based on the quoted market prices of our securities.
Schedule of Retired and Redeemed Debt and Interest Payments	With the issuance of the new term loan facility and using the proceeds from the divestitures of the Lottery Business (see Note 1), we retired and redeemed the following outstanding debt and paid accrued and unpaid interest thereon plus related premiums, fees and expenses: Debt instrument Interest rate Maturity Face value as of March 31, 2022 Paid interest Premium, other fees and expenses SGI Term Loan B-5 variable 2024 $ 4,008 $ 5 $ 33 Senior Secured Notes 5.000% 2025 1,250 31 31 Senior Secured Euro Notes 3.375% 2026 361 2 6 Senior Unsecured Euro Notes 5.500% 2026 278 3 8 Senior Unsecured Notes 8.250% 2026 1,100 7 45 Total $ 6,997 $ 48 $ 123

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of gains (loss) on interest rate swap contracts	Three Months Ended March 31, 2022 2021 Gain recorded in accumulated other comprehensive loss, net of tax $ 3 $ 5 Interest expense recorded related to interest rate swap contracts 3 5
Schedule of the effect of interest rate swap contracts designated as cash flow hedges	The following table shows the effect of interest rate swap contracts designated as cash flow hedges in the consolidated statements of operations: Three Months Ended March 31, 2022 2021 Interest expense Total interest expense which reflects the effects of cash flow hedges $ (116) $ (121) Hedged item (3) (5) Derivative designated as hedging instrument — —
Fair value of liabilities measured on recurring basis	The following table shows the fair value of our hedges: As of Balance Sheet Line Item March 31, 2022 December 31, 2021 Interest rate swaps (1) Other liabilities $ — $ 3 Cross-currency interest rate swaps (1)(2) Other assets 46 42 (1) The inputs used to measure the fair value of our interest rate swap contracts were categorized as Level 2 in the fair value hierarchy. (2) A gain of $4 million for the three months ended March 31, 2022 is reflected in Foreign currency translation gain (loss) in Other comprehensive gain (loss).

Stockholders' Deficit (Tables)

Stockholders' Deficit (Tables)	3 Months Ended
	Mar. 31, 2022
Compensation Related Costs [Abstract]
Schedule of Stockholders' Deficit	The following tables present certain information regarding our stockholders’ deficit as of March 31, 2022 and March 31, 2021: Three Months Ended March 31, 2022 Common Stock Additional Paid in Capital Accumulated Loss Treasury Stock Accumulated Other Comprehensive Loss Noncontrolling Interest Total January 1, 2022 $ 1 $ 1,337 $ (3,158) $ (175) $ (261) $ 150 $ (2,106) Settlement of liability awards and other, net — 43 — — — — 43 Vesting of RSUs, net of tax withholdings — (31) — — — — (31) Purchase of treasury stock — — — (51) — — (51) Stock-based compensation — 17 — — — — 17 Net income — — 26 — — 2 28 Other comprehensive loss — — — — (37) — (37) March 31, 2022 $ 1 $ 1,366 $ (3,132) $ (226) $ (298) $ 152 $ (2,137) Three Months Ended March 31, 2021 Common Stock Additional Paid in Capital Accumulated Loss Treasury Stock Accumulated Other Comprehensive Loss Noncontrolling Interest Total January 1, 2021 $ 1 $ 1,268 $ (3,529) $ (175) $ (218) $ 129 $ (2,524) Vesting of RSUs, net of tax withholdings and other — (13) — — — — (13) Stock-based compensation — 17 — — — — 17 Net loss — — (15) — — 6 (9) Other comprehensive income — — — — 8 — 8 March 31, 2021 $ 1 $ 1,272 $ (3,544) $ (175) $ (210) $ 135 $ (2,521)
Schedule of Stock-based Compensation Expense Recognized	The following reflects total stock-based compensation expense recognized under all programs in our continuing operations: Three Months Ended March 31, 2022 2021 Related to L&W stock options $ — $ 6 Related to L&W RSUs 12 11 Related to SciPlay RSUs 3 2 Total $ 15 $ 19
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity	A summary of the changes in RSUs outstanding under our equity-based compensation plans during the three months ended March 31, 2022 is presented below: Number of Restricted Stock Units Weighted Average Grant Date Fair Value Unvested RSUs as of December 31, 2021 2.7 $ 32.03 Granted 1.4 $ 58.68 Vested (1.6) $ 38.28 Cancelled — $ 37.07 Unvested RSUs as of March 31, 2022 2.5 $ 42.64

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Schedule of Supplemental Operating Lease Information	Supplemental balance sheet and cash flow information related to operating leases is as follows: As of March 31, 2022 December 31, 2021 Operating lease right-of-use assets (1) $ 50 $ 51 Accrued liabilities 16 16 Operating lease liabilities 40 40 Total operating lease liabilities $ 56 $ 56 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases for the three month periods ended March 31, 2022 and 2021, respectively $ 6 $ 5 Weighted average remaining lease term, units in years 5 4 Weighted average discount rate 5 % 5 % (1) Operating lease right-of-use assets obtained in exchange for lease obligations were immaterial.
Maturities of Lease Liabilities	Lease liability maturities: Remainder of 2022 2023 2024 2025 2026 Thereafter Less Imputed Interest Total Operating leases $ 14 $ 16 $ 13 $ 10 $ 6 $ 2 $ (5) $ 56

Description of the Business a_4

Description of the Business and Summary of Significant Accounting Policies - Narrative (Details) shares in Thousands, $ in Millions	Apr. 04, 2022USD ($)	Mar. 31, 2022USD ($)Segmentshares	Mar. 01, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of business segments | Segment		3
Acquisitions related to continuing operations, Total Consideration		$ 6
Minimum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate		0.02
Maximum
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discount rate		0.03
Continuing Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Acquisitions related to continuing operations, Total Consideration		$ 134
Alictus
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent consideration arrangements, range of outcomes, value, low		0
Contingent consideration arrangements, range of outcomes, value, high		200
Business Acquisition, Percentage of Voting Interests Acquired			80.00%
Business Acquisition, Percentage of Voting Interests, Contingent Consideration			0.20
Alictus | Continuing Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Acquisitions related to continuing operations, Total Consideration		106
Acquisitions During Period
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent consideration arrangements, range of outcomes, value, high		$ 200
Related to L&W RSUs
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount | shares		3,000
Deferred Compensation, Share-based Payments
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount | shares		2,000
Subsequent Event | Lottery Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Divestiture of Businesses	$ 5,600
Subsequent Event | The Austria Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Divestiture of Businesses	$ 104

Description of the Business a_5

Description of the Business and Summary of Significant Accounting Policies - Schedule of Business Acquisitions (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)
Business Acquisition [Line Items]
Acquisitions related to continuing operations, Total Consideration	$ 6
Acquisitions related to continuing operations, Contingent Consideration	72	$ 51
Acquisitions related to continuing operations, Excess purchase price allocated to Goodwill	93
Acquisitions During Period
Business Acquisition [Line Items]
Contingent consideration arrangements, range of outcomes, value, high	$ 200
Minimum
Business Acquisition [Line Items]
Discount rate	0.02
Maximum
Business Acquisition [Line Items]
Discount rate	0.03
Measurement Input, Discount Rate | Minimum
Business Acquisition [Line Items]
Discount rate used in valuation analysis	18.00%
Royalty | Minimum
Business Acquisition [Line Items]
Royalty rate	1.00%
Royalty | Maximum
Business Acquisition [Line Items]
Royalty rate	21.00%
Continuing Operations
Business Acquisition [Line Items]
Acquisitions related to continuing operations, Total Consideration	$ 134
Acquisitions related to continuing operations, Contingent Consideration	21
Acquisitions related to continuing operations, Allocation of purchase price to Intangible assets, net	$ 34
Weighted average useful life of acquired intangible assets	6 years
Acquisitions related to continuing operations, Excess purchase price allocated to Goodwill	$ 93

Discontinued Operations- Narrat

Discontinued Operations- Narrative (Details) $ in Millions	Apr. 04, 2022USD ($)
Lottery Business | Subsequent Event
Condensed Financial Statements
Proceeds from Divestiture of Businesses	$ 5,600

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Income tax expense	$ (3)	$ (3)
Net income from discontinued operations, net of tax included in the consolidated statement of operations	95	79
Disposal Group, Including Discontinued Operation, Depreciation and Amortization		26
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]
Total current assets of businesses held for sale	558		$ 497
Total non-current assets of businesses held for sale	1,517		1,477
Total current liabilities of businesses held for sale	300		282
Operating lease liabilities	56		56
Total non-current liabilities of businesses held for sale	136		$ 124
Discontinued Operations
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Total revenue	288	276
Total cost of revenue	150	139
Other operating expenses	41	60
Operating income	97	77
Total other income, net	8	2
Net income from discontinued operations before income taxes	105	79
Income tax expense	10	0
Net income from discontinued operations, net of tax included in the consolidated statement of operations	95	79
Employee Benefits and Share-based Compensation	7	4
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]
Cash and cash equivalents	86	44
Restricted cash	31	22
Receivables, net	194	214
Inventories	113	94
Prepaid expenses deposits and other current assets	134	123
Total current assets of businesses held for sale	558	497
Property and equipment, net	229	217
Intangible assets and software, net	334	304
Goodwill	623	623
Equity investments	249	251
Other assets	82	82
Total non-current assets of businesses held for sale	1,517	1,477
Total assets of businesses held for sale	2,075	1,974
Accounts payable	103	95
Accrued liabilities and other	197	187
Total current liabilities of businesses held for sale	300	282
Operating lease liabilities	37	34
Other	99	90
Total non-current liabilities of businesses held for sale	136	124
Total liabilities of businesses held for sale	$ 436	$ 406

Revenue Recognition - Summary o

Revenue Recognition - Summary of Revenue by Type (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 572	$ 453
U.K. FOBT VAT Recover		6
Gaming
Disaggregation of Revenue [Line Items]
Total revenue	355	244
Gaming | Gaming operations
Disaggregation of Revenue [Line Items]
Total revenue	155	113
Gaming | Gaming machine sales
Disaggregation of Revenue [Line Items]
Total revenue	103	55
Gaming | Gaming systems
Disaggregation of Revenue [Line Items]
Total revenue	51	42
Gaming | Table products
Disaggregation of Revenue [Line Items]
Total revenue	46	34
SciPlay
Disaggregation of Revenue [Line Items]
Total revenue	158	151
SciPlay | Mobile in-app purchases
Disaggregation of Revenue [Line Items]
Total revenue	140	133
SciPlay | Web in-app purchases and other
Disaggregation of Revenue [Line Items]
Total revenue	18	18
iGaming
Disaggregation of Revenue [Line Items]
Total revenue	$ 59	$ 58

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Operating Lease, Lease Income	$ 113	$ 63

Revenue Recognition - Summary_2

Revenue Recognition - Summary of Contract Liabilities (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Change In Contract Liabilities [Roll Forward]
Contract liability balance, beginning of period	$ 37
Liabilities recognized during the period	5
Amounts recognized in revenue from beginning balance	(5)
Contract liability balance, end of period	$ 37

Revenue Recognition - Balances

Revenue Recognition - Balances in Receivables and Contract Asset Accounts (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Receivables	$ 448	$ 440
Contract Assets	$ 25	$ 19

Business Segments - Additional

Business Segments - Additional Information (Details)	3 Months Ended
	Mar. 31, 2022Segment
Segment Reporting [Abstract]
Number of business segments	3

Business Segments - Schedule of

Business Segments - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Total revenue	$ 572	$ 453
AEBITDA	202	142
Reconciling items to Net loss from continuing operations before income taxes:
Depreciation, amortization and impairments	(108)	(97)
Restructuring and other	(36)	(21)
Interest expense	(116)	(121)
Gain on remeasurement of debt	7	25
Other income (expense), net	2	6
Stock-based compensation	(15)	(19)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	(64)	(85)
Unallocated and Reconciling Items
Segment Reporting Information [Line Items]
Total revenue	0	0
AEBITDA	(34)	(32)
Reconciling items to Net loss from continuing operations before income taxes:
Depreciation, amortization and impairments	6	(7)
Restructuring and other	30	(17)
Interest expense	(116)	(121)
Gain on remeasurement of debt	7	25
Other income (expense), net	2	6
Stock-based compensation	(15)	(19)
Gaming
Segment Reporting Information [Line Items]
AEBITDA	171
Reconciling items to Net loss from continuing operations before income taxes:
Depreciation, amortization and impairments	83
Restructuring and other	3
Gaming | Operating Segments
Segment Reporting Information [Line Items]
Total revenue		244
AEBITDA		107
Reconciling items to Net loss from continuing operations before income taxes:
Depreciation, amortization and impairments		(75)
Restructuring and other		(3)
SciPlay
Segment Reporting Information [Line Items]
AEBITDA	44
Reconciling items to Net loss from continuing operations before income taxes:
Depreciation, amortization and impairments	5
Restructuring and other	2
SciPlay | Operating Segments
Segment Reporting Information [Line Items]
Total revenue		151
AEBITDA		46
Reconciling items to Net loss from continuing operations before income taxes:
Depreciation, amortization and impairments		(3)
Restructuring and other		0
iGaming
Segment Reporting Information [Line Items]
Total revenue	59	58
AEBITDA	21
Reconciling items to Net loss from continuing operations before income taxes:
Depreciation, amortization and impairments	14
Restructuring and other	1
iGaming | Operating Segments
Segment Reporting Information [Line Items]
Total revenue		58
AEBITDA		21
Reconciling items to Net loss from continuing operations before income taxes:
Depreciation, amortization and impairments		(12)
Restructuring and other		(1)
Gaming
Segment Reporting Information [Line Items]
Total revenue	355	244
SciPlay
Segment Reporting Information [Line Items]
Total revenue	$ 158	$ 151

Restructuring and other (Detail

Restructuring and other (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring and other	$ 36	$ 21
Employee severance
Restructuring Cost and Reserve [Line Items]
Restructuring and other	1	1
Strategic Review and Related
Restructuring Cost and Reserve [Line Items]
Restructuring and other	30	17
Restructuring, integration and other
Restructuring Cost and Reserve [Line Items]
Restructuring and other	$ 5	$ 3

Receivables, Allowance for Cr_3

Receivables, Allowance for Credit Losses and Credit Quality of Receivables - Components of Accounts and Notes Receivable, Net (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current:
Receivables	$ 479	$ 475
Allowance for credit losses	(48)	(52)
Current receivables, net	431	423
Long-term:
Receivables	19	19
Allowance for credit losses	(2)	(2)
Long-term receivables, net	17	17
Financing Receivable, after Allowance for Credit Loss, Total	$ 448	$ 440

Receivables, Allowance for Cr_4

Receivables, Allowance for Credit Losses and Credit Quality of Receivables - Components of Notes Receivable, Net (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Recorded Investment, Past Due [Line Items]
Notes receivable	$ 19	$ 19
Notes receivable allowance	(50)	(54)	$ (78)	$ (81)
Long-term receivables, net	448	440
Notes receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Notes receivable	498	494
Notes receivable allowance	(50)	(54)
Long-term receivables, net	448	440
UNITED STATES | Notes receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Notes receivable	257	321
Notes receivable allowance	(21)	(18)
International
Financing Receivable, Recorded Investment, Past Due [Line Items]
Notes receivable allowance	(29)	(36)
International | Notes receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Notes receivable	241	173
Notes receivable allowance	(29)	(36)
Balances Over 90 days Past Due | Notes receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Notes receivable	38	81
Notes receivable allowance for balances over 90 days past due	(23)	(25)
Notes receivable, net, balances over 90 days past due	15	56
Balances Over 90 days Past Due | UNITED STATES | Notes receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Notes receivable	17	37
Notes receivable allowance for balances over 90 days past due	(4)	(6)
Balances Over 90 days Past Due | International | Notes receivable
Financing Receivable, Recorded Investment, Past Due [Line Items]
Notes receivable	21	44
Notes receivable allowance for balances over 90 days past due	$ (19)	$ (19)

Receivables, Allowance for Cr_5

Receivables, Allowance for Credit Losses and Credit Quality of Receivables - Allowance for Notes Receivable Activity (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Allowance for notes receivable
Financing Receivable, Allowance for Credit Loss	$ (54)	$ (81)
Financing Receivable, Allowance for Credit Loss	$ (50)	$ (78)
Balances Over 90 days Past Due
Allowance for notes receivable
Financing Receivable, Percent Past Due	3.00%	13.00%
International
Allowance for notes receivable
Financing Receivable, Allowance for Credit Loss	$ (36)
Financing Receivable, Allowance for Credit Loss	(29)
UNITED STATES
Allowance for notes receivable
Financing Receivable, Allowance for Credit Loss	(18)
Financing Receivable, Allowance for Credit Loss	(21)
Notes receivable
Allowance for notes receivable
Financing Receivable, Allowance for Credit Loss	(54)
Provision for Loan, Lease, and Other Losses	(3)	$ 1
Financing Receivable, Allowance for Credit Loss, Recovery	7	$ 2
Financing Receivable, Allowance for Credit Loss	(50)
Notes receivable | International
Allowance for notes receivable
Financing Receivable, Allowance for Credit Loss	(36)
Provision for Loan, Lease, and Other Losses	0
Financing Receivable, Allowance for Credit Loss, Recovery	7
Financing Receivable, Allowance for Credit Loss	(29)
Notes receivable | UNITED STATES
Allowance for notes receivable
Provision for Loan, Lease, and Other Losses	(3)
Financing Receivable, Allowance for Credit Loss, Recovery	$ 0

Receivables, Allowance for Cr_6

Receivables, Allowance for Credit Losses and Credit Quality of Receivables - Schedule of LATAM Receivables (Details) - Latin America $ in Millions	Mar. 31, 2022USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss	$ 91
Accounts Receivable, Allowance for Credit Loss	(28)
Accounts Receivable, after Allowance for Credit Loss	63
Current or Not Yet Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss	40
Accounts Receivable, Allowance for Credit Loss	(14)
Accounts Receivable, after Allowance for Credit Loss	26
Balances Over 90 days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, before Allowance for Credit Loss	51
Accounts Receivable, Allowance for Credit Loss	(14)
Accounts Receivable, after Allowance for Credit Loss	$ 37

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Parts and work-in-process	$ 88	$ 70
Finished goods	25	28
Inventories	$ 113	$ 98

Property and Equipment, net (De

Property and Equipment, net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation	$ (679)		$ (675)
Total property and equipment, net	197		213
Depreciation expense	28	$ 31
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	6		6
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	56		55
Gaming machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	696		712
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	21		22
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	11		9
Other property and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 86		$ 84

Intangible Assets, net and Go_3

Intangible Assets, net and Goodwill - Schedule of Finite and Indefinite-lived Intangible Assets (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Amortizable intangible assets:
Amortizable intangible assets, gross carrying value	$ 2,594	$ 2,599
Amortizable intangible assets, accumulated amortization	(1,701)	(1,653)
Amortizable intangible assets, net balance	893	946
Customer relationships
Amortizable intangible assets:
Amortizable intangible assets, gross carrying value	912	911
Amortizable intangible assets, accumulated amortization	(468)	(445)
Amortizable intangible assets, net balance	444	466
Intellectual property
Amortizable intangible assets:
Amortizable intangible assets, gross carrying value	940	914
Amortizable intangible assets, accumulated amortization	(686)	(670)
Amortizable intangible assets, net balance	254	244
Licenses
Amortizable intangible assets:
Amortizable intangible assets, gross carrying value	436	472
Amortizable intangible assets, accumulated amortization	(368)	(380)
Amortizable intangible assets, net balance	68	92
Brand names
Amortizable intangible assets:
Amortizable intangible assets, gross carrying value	132	132
Amortizable intangible assets, accumulated amortization	(101)	(97)
Amortizable intangible assets, net balance	31	35
Trade names
Amortizable intangible assets:
Amortizable intangible assets, gross carrying value	162	158
Amortizable intangible assets, accumulated amortization	(71)	(54)
Amortizable intangible assets, net balance	91	104
Patents and other
Amortizable intangible assets:
Amortizable intangible assets, gross carrying value	12	12
Amortizable intangible assets, accumulated amortization	(7)	(7)
Amortizable intangible assets, net balance	$ 5	$ 5

Intangible Assets, net and Go_4

Intangible Assets, net and Goodwill - Intangible Amortization Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 60	$ 45

Intangible Assets, net and Go_5

Intangible Assets, net and Goodwill - Reconciliation of the Carrying Amount of Goodwill (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Goodwill [Roll Forward]
Balance at the beginning of the period	$ 2,892
Acquired goodwill	93
Foreign currency adjustments	(7)
Balance at the end of the period	2,978
Gaming
Goodwill [Roll Forward]
Balance at the beginning of the period	2,405
Acquired goodwill	0
Foreign currency adjustments	(2)
Balance at the end of the period	2,403
Goodwill, Impaired, Accumulated Impairment Loss	989
SciPlay
Goodwill [Roll Forward]
Balance at the beginning of the period	126
Acquired goodwill	93
Foreign currency adjustments	(2)
Balance at the end of the period	217
iGaming
Goodwill [Roll Forward]
Balance at the beginning of the period	361
Acquired goodwill	0
Foreign currency adjustments	(3)
Balance at the end of the period	$ 358

Software, net (Details)

Software, net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Capitalized Computer Software, Net [Abstract]
Software	$ 995		$ 996
Accumulated amortization	(890)		(879)
Software, net	105		$ 117
Capitalized Computer Software, Amortization	$ 20	$ 21

Long-Term and Other Debt - Narr

Long-Term and Other Debt - Narrative (Details) - USD ($) $ in Millions	Apr. 14, 2022	Mar. 31, 2022
Debt Instrument
Principal debt amount		$ 8,910
Face value		$ 6,997
Subsequent Event
Debt Instrument
Debt Instrument, Face Amount, Decrease (Increase) Due to Refinancing	$ (4,957)
Principal debt amount	3,953
Subsequent Event | Senior Secured Credit Facilities | Credit Facility, Term Loan, Maturing 2029 | Secured Debt
Debt Instrument
Face value	$ 2,200
Interest rate	2.00%
Debt Instrument, Periodic Payment, Percentage of Principal	0.0100
Subsequent Event | Senior Secured Credit Facilities | Credit Facility, Term Loan, Maturing 2029 | Secured Debt | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument
Debt Instrument, Basis Spread on Variable Rate	3.00%
Subsequent Event | Senior Secured Credit Facilities | Revolver, Maturing 2027 | Secured Debt
Debt Instrument
Face value	$ 750
Interest rate	1.00%
Subsequent Event | Senior Secured Credit Facilities | Revolver, Maturing 2027 | Secured Debt | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument
Debt Instrument, Basis Spread on Variable Rate	2.00%
Subsequent Event | Term Loan Facility and Revolving Credit Facility, April 2022 | Secured Debt
Debt Instrument
Face value	$ 5
Debt Instrument, Covenant Terms, Maximum Ratio of Borrowings Exceeding Commitments	0.30
Debt Instrument, Covenant, Leverage Ratio, Maximum	4.50

Long-Term and Other Debt - Sche

Long-Term and Other Debt - Schedule of Retired and Redeemed Debt and Interest Payments (Details) - USD ($) $ in Millions	Apr. 14, 2022	Mar. 31, 2022	Feb. 28, 2018
Debt Instrument
Face value as of March 31, 2022		$ 6,997
Premium, other fees and expenses		$ 77
Subsequent Event
Debt Instrument
Paid interest	$ 48
Premium, other fees and expenses	$ 123
Senior Secured Notes, Maturing 2025
Debt Instrument
Interest rate			2.946%
Senior Notes | Senior Secured Notes, Maturing 2025
Debt Instrument
Interest rate		5.00%
Face value as of March 31, 2022		$ 1,250
Premium, other fees and expenses		$ 10
Senior Notes | Senior Secured Notes, Maturing 2025 | Subsequent Event
Debt Instrument
Interest rate	5.00%
Paid interest	$ 31
Premium, other fees and expenses	$ 31
Senior Notes | Senior Secured Euro Notes, Maturing 2026
Debt Instrument
Interest rate		3.375%
Face value as of March 31, 2022		$ 361
Premium, other fees and expenses		$ 3
Senior Notes | Senior Secured Euro Notes, Maturing 2026 | Subsequent Event
Debt Instrument
Interest rate	3.375%
Paid interest	$ 2
Premium, other fees and expenses	$ 6
Senior Notes | Senior Unsecured Euro Notes, Maturing 2026
Debt Instrument
Interest rate		5.50%
Face value as of March 31, 2022		$ 278
Premium, other fees and expenses		$ 2
Senior Notes | Senior Unsecured Euro Notes, Maturing 2026 | Subsequent Event
Debt Instrument
Interest rate	5.50%
Paid interest	$ 3
Premium, other fees and expenses	$ 8
Senior Notes | 2026 Unsecured Notes
Debt Instrument
Interest rate		8.25%
Face value as of March 31, 2022		$ 1,100
Premium, other fees and expenses		10
Senior Notes | 2026 Unsecured Notes | Subsequent Event
Debt Instrument
Interest rate	8.25%
Paid interest	$ 7
Premium, other fees and expenses	45
Senior Secured Credit Facilities | Secured Debt | Senior Secured Credit Facility, Term Loan B-5, Maturing 2024 [Member]
Debt Instrument
Face value as of March 31, 2022		4,008
Premium, other fees and expenses		$ 32
Senior Secured Credit Facilities | Secured Debt | Senior Secured Credit Facility, Term Loan B-5, Maturing 2024 [Member] | Subsequent Event
Debt Instrument
Paid interest	5
Premium, other fees and expenses	$ 33

Long-Term and Other Debt - Sc_2

Long-Term and Other Debt - Schedule of Outstanding Debt (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Feb. 28, 2018
Debt Instrument
Face value	$ 6,997
Unamortized debt discount/premium and deferred financing costs, net	(77)
Total long-term debt outstanding	8,833		$ 8,690
Less: current portion of long-term debt	(44)		(44)
Long-term debt, excluding current portion	8,789		8,646
Fair value of debt	9,058
Principal debt amount	8,910
Gain on remeasurement of debt	(7)	$ (25)
2025 Secured Notes
Debt Instrument
Interest rate				2.946%
2026 Secured Euro Notes
Debt Instrument
Reduction of debt due to change in foreign currency exchange rate	(73)
Gain on remeasurement of debt	$ (7)
Senior Notes | 2025 Secured Notes
Debt Instrument
Interest rate	5.00%
Face value	$ 1,250
Unamortized debt discount/premium and deferred financing costs, net	(10)
Total long-term debt outstanding	$ 1,240		1,240
Principal debt amount				$ 460
Debt, Weighted Average Interest Rate				2.946%
Senior Notes | 2026 Secured Euro Notes
Debt Instrument
Interest rate	3.375%
Face value	$ 361
Unamortized debt discount/premium and deferred financing costs, net	(3)
Total long-term debt outstanding	$ 358		364
Senior Notes | 2025 Unsecured Notes
Debt Instrument
Interest rate	8.625%
Face value	$ 550
Unamortized debt discount/premium and deferred financing costs, net	(6)
Total long-term debt outstanding	$ 544		544
Senior Notes | 2026 Unsecured Euro Notes
Debt Instrument
Interest rate	5.50%
Face value	$ 278
Unamortized debt discount/premium and deferred financing costs, net	(2)
Total long-term debt outstanding	$ 276		280
Senior Notes | 2026 Unsecured Notes
Debt Instrument
Interest rate	8.25%
Face value	$ 1,100
Unamortized debt discount/premium and deferred financing costs, net	(10)
Total long-term debt outstanding	$ 1,090		1,090
Senior Notes | 2028 Unsecured Notes
Debt Instrument
Interest rate	7.00%
Face value	$ 700
Unamortized debt discount/premium and deferred financing costs, net	(8)
Total long-term debt outstanding	$ 692		692
Senior Notes | 2029 Unsecured Notes
Debt Instrument
Interest rate	7.25%
Face value	$ 500
Unamortized debt discount/premium and deferred financing costs, net	(6)
Total long-term debt outstanding	$ 494		494
Capital Lease Obligations | Capital lease obligations as of period end payable monthly and other
Debt Instrument
Interest rate	4.089%
Face value	$ 3
Unamortized debt discount/premium and deferred financing costs, net	0
Total long-term debt outstanding	3		4
Senior Secured Credit Facilities | Secured Debt | SGI Revolver
Debt Instrument
Face value	160
Unamortized debt discount/premium and deferred financing costs, net	0
Total long-term debt outstanding	160		0
Senior Secured Credit Facilities | Secured Debt | SGI Term Loan B-5
Debt Instrument
Face value	4,008
Unamortized debt discount/premium and deferred financing costs, net	(32)
Total long-term debt outstanding	3,976		3,982
Senior Secured Credit Facilities | Secured Debt | SciPlay Revolver
Debt Instrument
Face value	0
Unamortized debt discount/premium and deferred financing costs, net	0
Total long-term debt outstanding	$ 0		$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Apr. 30, 2022	Apr. 14, 2022	Dec. 31, 2021	Feb. 28, 2018
Derivative [Line Items]
Contingent consideration	$ 72			$ 51
Accrued Liabilities
Derivative [Line Items]
Contingent consideration	$ 19			$ 3
Designated as Hedging Instrument | Interest rate swap | Subsequent Event
Derivative [Line Items]
Derivative, Notional Amount		$ 700
Cash Flow Hedging | Designated as Hedging Instrument | Interest rate swap
Derivative [Line Items]
Derivative average fixed interest rate	2.4418%
Derivative, Notional Amount	$ 800
Senior Secured Notes, Maturing 2025
Derivative [Line Items]
Interest rate					2.946%
Senior Secured Notes, Maturing 2025 | Senior Notes
Derivative [Line Items]
Interest rate	5.00%
Senior Secured Notes, Maturing 2025 | Senior Notes | Subsequent Event
Derivative [Line Items]
Interest rate			5.00%
Senior Secured Notes, Maturing 2025 | Senior Notes | Cross-currency interest rate swaps
Derivative [Line Items]
Long-term debt					$ 460
Senior Secured Euro Notes, Maturing 2026 | Net Investment Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Designated as net investment non-derivative hedge	$ 208
Senior Secured Euro Notes, Maturing 2026 | Senior Notes
Derivative [Line Items]
Interest rate	3.375%
Senior Secured Euro Notes, Maturing 2026 | Senior Notes | Subsequent Event
Derivative [Line Items]
Interest rate			3.375%
April 2022 Refinancing | Senior Notes | Cross-currency interest rate swaps | Subsequent Event
Derivative [Line Items]
Proceeds from settlement of derivative instrument		$ 50

Fair Value Measurements - Gains

Fair Value Measurements - Gains (Loss) and Interest Expense on Interest Rate Swap Contracts (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Gain recorded in accumulated other comprehensive loss, net of tax	$ 3	$ 5
Interest rate swap
Derivative Instruments, Gain (Loss) [Line Items]
Interest expense recorded related to interest rate swap contracts	$ 3	$ 5

Fair Value Measurements - Effec

Fair Value Measurements - Effect of Interest Rate Swap Contracts (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Total interest expense which reflects the effects of cash flow hedges	$ (116)	$ (121)
Hedged item	(3)	(5)
Derivative designated as hedging instrument	$ 0	$ 0

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Hedges (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Derivative designated as hedging instrument	$ 0	$ 0
Interest rate swap | Other liabilities
Derivatives, Fair Value [Line Items]
Derivative fair value	0		$ 3
Interest rate swap | Other assets
Derivatives, Fair Value [Line Items]
Derivative fair value	46		$ 42
Cross-currency interest rate swaps | Other assets
Derivatives, Fair Value [Line Items]
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss), before Reclassification and Tax	$ 4

Stockholders' Deficit - Schedul

Stockholders' Deficit - Schedule of Changes in Equity (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stockholders' equity, beginning balance	$ (2,106)	$ (2,524)
Settlement of liability awards and other, net	43
Vesting of RSUs, net of tax withholdings and other	(31)	(13)
Purchase of treasury stock	(51)
Stock-based compensation	17	17
Net income (loss)	28	(9)
Other comprehensive loss	(37)	8
Stockholders' equity, ending balance	(2,137)	(2,521)
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stockholders' equity, beginning balance	1	1
Stockholders' equity, ending balance	1	1
Additional Paid in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stockholders' equity, beginning balance	1,337	1,268
Settlement of liability awards and other, net	43
Vesting of RSUs, net of tax withholdings and other	(31)	(13)
Stock-based compensation	17	17
Stockholders' equity, ending balance	1,366	1,272
Accumulated Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stockholders' equity, beginning balance	(3,158)	(3,529)
Net income (loss)		(15)
Stockholders' equity, ending balance	(3,132)	(3,544)
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stockholders' equity, beginning balance	(175)	(175)
Purchase of treasury stock	(51)
Stockholders' equity, ending balance	(226)	(175)
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stockholders' equity, beginning balance	(261)	(218)
Other comprehensive loss	(37)	8
Stockholders' equity, ending balance	(298)	(210)
Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stockholders' equity, beginning balance	150	129
Net income (loss)		6
Stockholders' equity, ending balance	$ 152	$ 135

Stockholders' Deficit - Stock B

Stockholders' Deficit - Stock Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	$ 15	$ 19
Related to L&W stock options
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	0	6
Related to L&W RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	12	11
Related to L&W RSUs | SciPlay
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	$ 3	$ 2

Stockholders' Deficit - Sched_2

Stockholders' Deficit - Schedule of Restricted Stock Units (Details) - Related to L&W RSUs - $ / shares shares in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Number of Restricted Stock Units
Unvested RSU's at beginning of period (in shares)	2.7
Granted (in shares)	1.4
Vested (in shares)	(1.6)
Cancelled (in shares)	0
Unvested RSU's at end of period (in shares)	2.5
Weighted Average Grant Date Fair Value
Unvested RSU's at beginning of period (in dollars per share)	$ 32.03
Granted (in dollars per share)	58.68	$ 43.63
Vested (in dollars per share)	38.28
Cancelled (in dollars per share)	37.07
Unvested RSU's at end of period (in dollars per share)	$ 42.64

Stockholders' Deficit - Narrati

Stockholders' Deficit - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions	Mar. 01, 2022	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Unrecognized stock based compensation		$ 85,000,000
Unrecognized stock based compensation, period for recognition		2 years
Stock purchase program, aggregate cost		$ 51,000,000
Share Repurchase Program, March 2022
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock repurchase program, authorized amount	$ 750,000,000
Stock repurchase program, shares acquired (in shares)	0.9
Stock purchase program, aggregate cost	$ 51,000,000
Stock purchase program, average cost per share (in usd per share)	$ 59.10
Discontinued Operations
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Unrecognized stock based compensation		$ 9,000,000
Related to L&W RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Granted (in dollars per share)		$ 58.68	$ 43.63
Awards vested in period, fair value		$ 92,400,000	$ 42,500,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Valuation Allowance [Line Items]
Income tax expense	$ 3	$ 3
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
Other SciPlay Owners
Valuation Allowance [Line Items]
Percentage of SciPlay stock owned by other parties	19.00%

Leases - Additional Information

Leases - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Leases [Abstract]
Operating lease expenses	$ 6

Leases - Supplemental Operating

Leases - Supplemental Operating Lease Information (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease right-of-use assets	$ 50	$ 51
Accrued liabilities	16	16
Operating lease liabilities	40	40
Total operating lease liabilities	56	56
Operating Lease, Right-of-Use Asset, in Exchange for Lease Obligations	$ 6	$ 5
Operating Lease, Weighted Average Remaining Lease Term	5 years	4 years
Weighted average discount rate	5.00%	5.00%

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) $ in Millions	Mar. 31, 2022USD ($)
Leases [Abstract]
2019	$ 14
2020	16
2021	13
2022	10
2023	6
Thereafter	2
Less Imputed Interest	(5)
Total	$ 56

Litigation (Details)

Litigation (Details) $ in Millions, $ in Billions	1 Months Ended
	Jun. 30, 1999USD ($)	Jun. 30, 1999COP ($)	Mar. 31, 2022USD ($)	Jun. 30, 1993USD ($)
Other Commitments [Line Items]
Loss contingency accrual			$ 27
Contractual penalty			$ 13
Guarantee of Business Revenue
Other Commitments [Line Items]
Contractual penalty				$ 5
Loss Contingency Deposit of Surety Bond				$ 4
Ecosalud
Other Commitments [Line Items]
Litigation Settlement, Amount Awarded to Other Party	$ 30.2	$ 90