Light & Wonder has notified investors that it is exploring the possibility of a secondary listing on the Australian Securities Exchange (ASX).
The gaming company noted that a potential listing on the ASX would be in addition to its current Nasdaq listing and explained that it would consult all current shareholders as part of the evaluation process.
Light & Wonder’s board has been exploring ways to accelerate its strategic journey, particularly after shedding both its lottery and sports betting business in recent times.
Setting out its reasoning for the deliberation, Light & Wonder identified two key benefits of making the second listing.
Firstly, it is claimed that an ASX listing would enhance its profile in Australia, which is one of its leading performing markets for its gaming divisions.
Secondly, it would allow the firm to access new Australian investors that would “complement its strong existing base of shareholders in the US and Australia”.
Jamie Odell, Executive Chair of the Light & Wonder Board of Directors, explained: “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.”