Global gaming supplier Light & Wonder, Inc has revealed it is evaluating a potential secondary listing of its shares on the Australian Securities Exchange, in addition to the company’s existing primary Nasdaq listing.
Such a move had been rumored back in 2021, prior to the demerger that saw Scientific Games split its gaming and lotteries businesses, and was seen as a potential option for the listing of either the lotteries arm or the newly created Light & Wonder business.
Instead, Light & Wonder on Thursday morning (Asia time) confirmed it would now look at the ASX for a potential secondary listing with the issued to be discussed with shareholders.
The company said its Board of Directors had considered a range of options to accelerate its strategic journey as a global leader in cross-platform games and entertainment and enhance overall shareholder value. Potential benefits of a secondary listing would include enhancing the Light & Wonder’s profile in Australia, which is one of the leading markets for its gaming business, and giving the company access to new long-term Australian institutional investors that would complement its strong existing base of shareholders in the US and Australia.
“The ASX is a premium market with a long track record as a platform for global gaming companies and a deep and liquid pool of sophisticated investors and market participants who have a strong understanding of the gaming business,” said Light & Wonder’s Executive Chair, Jamie Odell.
“We believe they will appreciate the value and long-term potential of Light & Wonder’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 said it intends to update the market only once its evaluation is complete and it has made a decision on whether to proceed with an ASX secondary listing, adding there is no guarantee it will pursue such a listing.
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