Global gaming giant Light & Wonder said this morning that it may seek a sole listing on the Australian Securities Exchange as part of a listing review aimed at providing the “optimal outcome” for shareholders.
Less than two years after the company first secured a dual listing on the ASX alongside its existing presence on the NASDAQ, Light & Wonder explained that a dual primary and a sole listing were both ongoing considerations, with the company having engaged Jarden Australia and Goldman Sachs as advisors to evaluate potential strategies.
Its current secondary listing on the ASX now represents around 30% of total ownership, Light & Wonder added, with a final decision on how to proceed now depending on feedback from key stakeholders.
The company is, it explained, focused on “enhancing the liquidity and market capitalization of its ASX listing.”
Light & Wonder chairman Jamie Odell said, “The ASX is a premier exchange with a strong history of supporting global gaming companies, offering access to a deep and liquid market of sophisticated investors and industry participants with a comprehensive understanding of the gaming sector. We look forward to engaging with the market and our existing shareholders to further elevate the profile of our ASX listing.”
The announcement formed part of Light & Wonder’s FY24 results release, which saw the company achieve an all-time high in consolidated revenues of US$3.2 billion. On performance during the first two months of 2025, Light & Wonder said it is already anticipating further growth throughout the year.
“Based on the timing dynamics of Game Sales and high-return investment opportunities, both of which are expected to drive enhanced organic growth as the year progresses, we expect first quarter 2025 year-over-year Consolidated Adjusted EBITDA growth to be in the low double-digits,” it said.
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