Contemplates Possible Second Stock Exchange Listing in Australia by Light & Wonder
Going Global: Light & Wonder Mulls Over ASX Listing for More Growth
Is Light & Wonder plotting to make waves in the Australian Securities Exchange (ASX)? The iGaming giant is reportedly pondering over the possibility of a secondary listing, aiming to raise additional funds and strengthen its presence globally. This latest move isn't their first dance with the idea, as speculations of a secondary listing for both Light & Wonder and Scientific Games (its separated lottery counterpart) have circled in the past.
The Pursuit of More Shareholder Value
Remember the game-changing merger between Light & Wonder and Scientific Games in 2021? Well, way back then, there were predictions that the newly-formed Light & Wonder might consider a secondary listing. Fast forward, and the company has finally fueled those rumors by confirming its intention to discuss the matter with its shareholders.
In a statement issued on Thursday, Light & Wonder acknowledged its ambition to remain a force to be reckoned with in the iGaming world. To do so, they might be looking to inject some fresh capital into their war chest. This move will be guided by optimal business strategies to accelerate global growth and ultimately maximize shareholder value.
Opening Doors to Fresh Capital and Expanding Down Under
Listing on the ASX could provide Light & Wonder with a treasure trove of new capital and a stronger grip on the Australian market, potentially setting the stage for a future foray into iGaming down under. Speaking on the matter, Light & Wonder's executive chairman, Jamie Odell, expressed his excitement:
The ASX is a prestigious platform for global gaming companies, boasting a long history and a deep pool of sophisticated investors who understand the iGaming sector.
While no decisions have been made yet, Odell hinted that a potential ASX listing would be a boon for the company, potentially amplifying its long-term value and potential. However, it's essential to note that this is still speculation, as the company has yet to take any concrete steps in this direction. What's clear, though, is that shareholder approval will be key to any move forward.
Enrichment Data:- Financial Targets and Confidence: Light & Wonder reaffirmed its 2025 consolidated AEBITDA target of $1.4 billion and adjusted NPATA guidance of $565–635 million, signaling confidence in growth despite ongoing litigation risks.- Legal Pressures: Aristocrat’s trade secret misappropriation claims against Light & Wonder’s Jewel of the Dragon and Dragon Train Grand Central games highlight increased intellectual property disputes in the slots market, potentially affecting competitive dynamics and innovation timelines.- Investor Communication: Light & Wonder is scheduled to release Q1 results on May 7 and host an Investor Day on May 20, indicating a focus on transparency, addressing litigation impacts, and discussing growth strategies in digital gaming and platform expansion.
- The potential secondary listing of Light & Wonder on the ASX could attract a multitude of investors who are knowledgeable about the iGaming sector, providing the company with a significant influx of fresh capital.
- As stated by Light & Wonder's executive chairman, Jamie Odell, the ASX offers a prestigious platform for gaming companies, and a listing there could strengthen the company's presence in the Australian market, potentially leading to a future expansion into iGaming down under.
- To maximize shareholder value, Light & Wonder might be considering a secondary listing, as part of itsstrategy to raise additional funds and accelerate global growth in the iGaming business.
- Despite ongoing litigation risks, Light & Wonder reaffirmed its financial targets, displaying confidence in its growth strategy and overall potential, suggesting that the company is committed to its planned moves, including a potential secondary listing.
