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Stockholders' Equity (Deficit) (Tables)
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award
The following reflects total stock-based compensation expense recognized under all programs:
Year Ended December 31,
202420232022
Related to L&W stock options$— $— $1 
Related to L&W RSUs110 89 56 
Related to SciPlay RSUs(1)
— 29 12 
   Total(2)
$110 $118 $69 
(1) Stock-based compensation expense related to SciPlay RSUs was for awards granted prior to the SciPlay Merger. Upon completion of the SciPlay Merger in 2023, these RSUs were converted to awards denominated in L&W shares.
(2) The years ended December 31, 2024, 2023 and 2022 include $43 million, $63 million and $24 million, respectively, classified as liability awards.
Schedule of change in the number of shares of Class A common stock
The following table sets forth the change in the number of shares of common stock outstanding during the fiscal years ended December 31, 2024 and 2023:
 December 31,
 20242023
Shares outstanding as of beginning of period90 91 
Shares issued as part of equity-based compensation plans and the employee stock purchase plan (“ESPP”), net of shares surrendered1 1 
Shares repurchased into treasury stock(5)(2)
Shares outstanding as of end of period86 90 
Share-based Payment Arrangement, Option, Activity
A summary of the changes in stock options outstanding under our equity-based compensation plans during 2024 is presented below:
Number of OptionsWeighted Average Remaining Contract Term (Years)Weighted Average Exercise Price (per share)Aggregate Intrinsic Value
Options outstanding as of December 31, 2023
1.5 3.1$34.98 $72 
Granted— — $80.36 $— 
Exercised— — $35.42 $2 
Cancelled— — $— $— 
Options outstanding as of December 31, 2024
1.5 2.0$35.27 $77 
Options exercisable as of December 31, 2024
1.5 2.0$34.90 $77 
Options expected to vest as of December 31, 2024
— 8.5$79.12 $— 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions The weighted-average assumptions used in the model are outlined in the following table:
202420232022
Assumptions:
Expected volatility70 %N/A71 %
Risk-free interest rate3.88 %N/A3.01 %
Dividend yield— N/A— 
Expected life (in years)6N/A6
RSUs outstanding under equity-based compensation plans
A summary of the changes in RSUs outstanding under our equity-based compensation plans during 2024 is presented below:
Number of Restricted Stock UnitsWeighted Average Grant Date Fair Value
Unvested RSUs as of December 31, 2023
2.3 $55.53 
Granted1.5 $99.11 
Vested(1.7)$69.64 
Cancelled(0.1)$65.07 
Unvested RSUs as of December 31, 2024
2.0 $75.49