Light & Wonder to Evaluate a Potential Listing on the Australian Securities Exchange
March 15 2023 - 4:15PM
Business Wire
Light & Wonder, Inc. (NASDAQ: LNW) (“Light & Wonder,”
“L&W” or the “Company”), today announced that it is evaluating
a potential secondary listing of its shares on the Australian
Securities Exchange (“ASX”), in addition to the Company’s existing
primary Nasdaq listing. L&W will be consulting its shareholders
as part of this evaluation.
The L&W Board of Directors has considered a range of options
to accelerate the Company’s strategic journey as a global leader in
cross-platform games and entertainment and enhance overall
shareholder value. The Board sees substantial potential benefits
for the Company and its shareholders in pursuing a secondary
listing on the ASX, including:
- Enhancing the Company’s profile in Australia, one of the
leading markets for the Company’s 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. We believe they will
appreciate the value and long-term potential of L&W’s broad
international business and strategy. We look forward to engaging
with the market and our current shareholders on a potential
secondary listing,” said Jamie Odell, Executive Chair of the Light
& Wonder Board of Directors.
Light & Wonder intends to update the market only once its
evaluation is complete and it has made a decision whether to
proceed with an ASX secondary listing. There is no assurance that
the Company will decide to pursue such a secondary listing.
© 2023 Light & Wonder Inc. All rights reserved.
About Light & Wonder, Inc.
Light & Wonder, Inc. (formerly known as Scientific Games
Corporation), is a global leader in cross-platform games and
entertainment. Light & Wonder brings together approximately
6,000 employees from six continents to connect content between
land-based and digital channels with unmatched technology and
distribution. Guided by a culture that values daring teamwork and
creativity, the Company builds new worlds of play, developing game
experiences loved by players around the globe. Its OpenGaming™
platform powers the largest digital-gaming network in the industry.
The Company is committed to the highest standards of integrity,
from promoting player responsibility to implementing sustainable
practices. To learn more, visit lnw.com.
Advisors
Light & Wonder has retained Goldman Sachs Australia Pty Ltd
and Jarden Australia Pty Limited to assist with its evaluation of a
potential secondary listing on the ASX.
Forward-Looking Statements
In this press release, the Company makes “forward-looking
statements” within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements describe
future expectations, plans, results or strategies and can often be
identified by the use of terminology such as “may,” “will,”
“estimate,” “intend,” “plan,” “continue,” “believe,” “expect,”
“anticipate,” “target,” “should,” “could,” “potential,”
“opportunity,” “goal” or similar terminology. These statements are
based upon management’s current expectations, assumptions and
estimates and are not guarantees of timing, future results or
performance. Therefore, you should not rely on any of these
forward-looking statements as predictions of future events. Actual
results may differ materially from those contemplated in these
statements due to a variety of risks and uncertainties and other
factors, including those factors described in the Company’s filings
with the Securities and Exchange Commission (the “SEC”), including
the Company’s current reports on Form 8-K, quarterly reports on
Form 10-Q and its annual report on Form 10-K that was filed with
the SEC on March 1, 2023 (including under the headings
“Forward-Looking Statements” and “Risk Factors”). Forward-looking
statements speak only as of the date they are made and, except for
the Company’s ongoing obligations under the U.S. federal securities
laws, the Company undertakes no obligation to publicly update any
forward-looking statements whether as a result of new information,
future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20230315005831/en/
Investor Inquiries: Steve Wan, Director, Investor
Relations, ir@lnw.com Media Inquiries: newsmedia@lnw.com
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