As it considers raising additional capital, the company may offer its shares to the Australian Securities Exchange (ASX). Light & Wonder is considering a secondary listing. This news comes not only once.
Light & Wonder: Creating more shareholder value
In 2021 before the company was decoupled from Scientific Games as well as the lotteries, gaming and lottery businesses, analysts suggested that the new-fangled Light & Wonder may consider a secondary listing. This was also true for Scientific Games, which was spun off to be the group’s lottery arm.
This time, however, there isn’t a rumor. Light & Wonder has issued a statement on Thursday and said it will be discussing this matter with its shareholders. Light & Wonder stated that it will continue its quest to be a global leader within iGaming and may seek additional capital to achieve that goal.
All this would be in accordance with best business practices, in an effort to accelerate the company’s global strategy and increase the shareholder value.
Listing on the ASX would greatly expand the company’s access to capital, and help it establish a stronger foothold in Australia. This could allow the company to expand into iGaming. Light & Wonder executive chairman Jamie Odell commented on the recent deliberations.
The ASX premium market is well-known for its ability to serve as a platform for international gaming companies. It also has a large pool of sophisticated investors who are knowledgeable about the market.
Light & Wonder executive chair Jamie Odell
Odell believes that an ASX listing would increase the long-term potential and value of his company. He also stated that the company is looking forward to engaging new shareholders in a secondary listing. This isn’t a definitive statement, as the company has yet to make a move in that direction. It would first need to be approved by its shareholders.