Global gaming giant Light & Wonder said Tuesday it will webcast an investor presentation live from the Australasian Gaming Expo on the morning of Wednesday 16 August.
The webcast, which will also be available for replay, will take place from 8am Australian Eastern Standard Time, with LnW’s President and CEO Matt Wilson hosting the presentation along with other members of senior management.
The innovative concept comes with the company having recently completed a second listing on the Australian Securities Exchange in addition to its primary NASDAQ listing, with the goal of enhancing its profile in Australia and giving the company access to new long-term Australian institutional investors.
The secondary listing was completed in May.
Wilson, who took over the top job at Light & Wonder in September, recently outlined his hopes of the company achieving US$1.4 billion in Adjusted EBITDA by 2025 as it continues to reduce debt and deleverage.
In an interview with CommSecTV – a media arm of Australian online stockbroking firm CommSec – in May, he explained, “We feel a really high level of conviction about getting there. For us it’s really about the fact that we had the shackles on the business back in the Scientific Games era. With all that leverage, every dollar of free cash flow went to servicing our debt and so we were underinvesting in R&D (research and development), underinvesting in capex, underinvesting in user acquisition costs in our social casino business.
“Now we’re out from underneath that debt burden so we’re able to invest behind our ambitions. We’ve expanded our R&D as a percentage of revenue from around the 7% range to 10% while protecting healthy margins and that just gives us a lot of dry powder to kind of invest behind our ambitions. We see that driving growth across all three businesses.”
RelatedPosts
