Casino Technology Company L&W Considers Australia’s Second Listing

Casino equipment and digital game content provider Light & Wonder (L&W) says it is currently considering a possible listing on the Australian Stock Exchange (ASX) to complement the Nasdaq listing.

“L&W will consult with shareholders as part of this assessment,” the group said in a press release on Wednesday, adding that “the board sees significant potential benefits for the company and its shareholders.”

Those benefits include “raising the company’s awareness in Australia, one of the leading markets for the company’s gaming business,” and “providing access to new long-term Australian institutional investors to complement strong existing shareholder bases in the United States and Australia.”

Light & Wonder’s Nasdaq-listed shares were down 5.49% at $55.04 per share on Wednesday.

In an update, Light & Wonder said financial institutions Goldman Sachs Australia Pty Ltd and Jaden Australia Pty Ltd “will help evaluate” regarding the secondary listing.

The game technology company said it would “update the market” only after it said it had “decided whether to proceed with the ASX secondary listing after the evaluation was completed.” “There is no guarantee that we will pursue this measure,” Light & Wonder added.경마사이트

“ASX is a premium market with a deep, fluid pool of sophisticated investors and market participants with a long track record as a platform for global game companies and a strong understanding of the gaming business,” Jamie Odell, executive director of Light & Wonder, said in a statement on Wednesday

He added that such an investment audience “will appreciate the value and long-term potential of L&W’s extensive international business and strategy” from the group’s perspective.

Mr Odell is the former chief executive of Australian listed market rival Aristrocat Leisure Ltd.

Light & Wonder earned $21 million in the fourth quarter, up 17.6% year-over-year. Debt amounted to $3.9 billion as of Dec. 31.

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