Light & Wonder Mulls Second Listing in Australia
The global entertainment giant has teased the possibility of following up on its NASDAQ listing with a secondary listing in Australia
The company could take its shares to the Australian Securities Exchange (ASX) as it debates raising additional capital and signal strength to investors globally. This is not the first time the news that Light & Wonder may be considering launching a secondary listing has surfaced.
Light & Wonder Considers Creating More Shareholder Value
Back in 2021, before the company decoupled with Scientific Games and the lotteries and gaming businesses, there were analysts who suggested that the newly-fangled Light & Wonder might actually consider a secondary listing. The same was said for Scientific Games which was spun off as the lottery arm of the group.
However, this time there is not so much a rumor as there is a confirmation from Light & Wonder which issued a statement early on Thursday and said that it will be discussing the matter with its shareholders. Light & Wonder confirmed that it is determined to continue with its journey as a global leader in the iGaming industry and to do that, it may be looking to raise additional capital.
All of this would be done in line with the best business practices and in a bid to accelerate the company’s global strategy and enhance the value for shareholders.
Bringing Fresh Capital and Establishing Global Footprint
A listing on the ASX would significantly expand the company’s reach to fresh capital and also help it establish a firmer foothold in Australia which may one day also push and expand into iGaming. Commenting on the latest deliberation, Light & Wonder executive chair Jamie Odell said:
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.
Light & Wonder executive chair Jamie Odell
Odell is confident that a listing on the ASX would help boost the long-term value and potential of his company and said that the company was very much looking forward to engaging with new shareholders in a potential secondary listing. Still, this is not a final statement as the company is far from having made a move towards that direction. For starters, it would need the blessing of its existing shareholders.
Although Fiona doesn't have a long-spanning background within the gambling industry, she is an incredibly skilled journalist who has built a strong interest in the constantly growing iGaming network. The team at GamblingNews.com is glad to have her on our roster to help deliver the best stories as soon as they hit. Aside from writing, she loves to dabble in online casino games such as slots and roulette, both for her own enjoyment and also as research to better improve her understanding of the industry.
