Item 2.01. Completion of Acquisition or Disposition of Assets.
On September 30, 2022, Light & Wonder, Inc. (formerly known as Scientific Games Corporation), a Nevada corporation (the
“Company”), completed the previously announced sale of all of the issued and outstanding equity interests of the companies which together constitute the Company’s Sports Betting business (the “Transaction”), to Endeavor Operating Company, LLC, a
Delaware limited liability company (“Endeavor”), pursuant to the Equity Purchase Agreement dated as of September 27, 2021 (as amended by Amendment No. 1 to the Equity Purchase Agreement dated as of June 30, 2022 and as amended by Amendment No. 2
to the Equity Purchase Agreement dated as of August 2, 2022, the “Purchase Agreement”), by and among the Company, Endeavor and, solely with respect to certain sections therein, Endeavor Group Holdings, Inc., a Delaware corporation (“Endeavor
Holdings”), for approximately $800 million in total gross proceeds, consisting of (i) $750 million in cash, subject to certain customary adjustments as set forth in the Purchase Agreement, and (ii) 2,305,794 shares of Class A common stock, par
value $0.00001, of Endeavor Holdings.
The foregoing description of the Purchase Agreement does not purport to be complete and is qualified in its entirety by reference
to the full text of the Purchase Agreement, a copy of which was filed as Exhibit 2.1 to the Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission (the “SEC”) on September 28, 2021 and incorporated herein by
reference, to the full text of Amendment No. 1 to the Equity Purchase Agreement dated as of June 30, 2022, a copy of which was filed as Exhibit 10.1 to the Current Report on Form 8-K filed by the Company with the SEC on June 30, 2022 and
incorporated herein by reference, and to the full text of Amendment No. 2 to the Equity Purchase Agreement dated as of August 2, 2022, a copy of which was filed as Exhibit 10.3 to the Quarterly Report on Form 10-Q filed by the Company with the
SEC on August 9, 2022 and incorporated herein by reference.