Light & Wonder (L&W) has revealed that it is considering a secondary listing of its shares on the Australian Securities Exchange (ASX). The gambling product provider, formerly Scientific Games, currently has a primary listing on the Nasdaq. L&W will discuss the ASX possibility with its shareholders.
The company’s board of directors has been looking at various ways to improve its position as a worldwide leader in cross-platform entertainment, as well as increase value to shareholders.
allow L&W to gain access to new institutional investors
Some of the potential benefits of an ASX listing would include enhancing its profile in Australia, which is one of the leading markets for the L&W gaming business. The listing would also allow L&W to gain access to new institutional investors that could boost its current shareholding.
Speaking about the potential move, L&W board of directors executive chair Jamie Odell said that 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.”