Light & Wonder, formerly known as Scientific Games, is evaluating a possible secondary listing of its shares on the Australian Securities Exchange (ASX), in addition to the company’s existing primary Nasdaq listing.
The Board of Directors at Light & Wonder has discussed a variety of options to accelerate the company’s general plans and strategy with a view to enhancing overall shareholder value. The company will also be consulting its shareholders as part of this evaluation.
The Board sees potential benefits for both Light & Wonder and its shareholders in pursuing a secondary listing on the ASX. It feels that enhancing the company’s profile in Australia will give it a name in one of the leading world markets for gaming, as well as give Light & Wonder new long-term Australian institutional investors, strengthening its existing base of shareholders in the US and Australia.
Jamie Odell, Executive Chair of the Light & Wonder Board of Directors, said, “The ASX is a premium market with a long track record as a platform for global gaming the other companies, and a deep and liquid pool of sophisticated investors and market participants who have a strong understanding of the gaming business.
"We believe they will appreciate the value and long-term potential of L&W’s broad international business and strategy. We look forward to engaging with the market and our current shareholders on a potential secondary listing,”
Light & Wonder will update the market only once it has completed its evaluation. A decision will soon be made on whether to proceed with an ASX secondary listing.
Gambling Insider spoke to Siobhan Lane, Light & Wonder Gaming CEO, recently at ICE London 2023.
Lane also featured in the January/February CEO Special, while Light & Wonder was victorious in the Retail Supplier of the year category at the Global Gaming Awards London 2023.
