Company Light & Wonder decides to trade shares exclusively on the Australian stock market, dissociating from Nasdaq.
Light & Wonder, a leading global provider of cross-platform gaming solutions, has announced its plans to delist from the Nasdaq exchange by the end of November 2025 and become solely listed on the Australian Securities Exchange (ASX). This move is part of the company's long-term strategic focus to leverage the ASX for shareholder value and operational efficiency.
The decision to focus on the ASX aligns with Light & Wonder's strategy to consolidate its listings for greater shareholder value, streamline investor relations, and concentrate growth efforts in its primary operational markets in Australia. CEO Matt Wilson teased "exciting growth plans" but did not elaborate on the details.
The company has trimmed its 2025 financial guidance due to growing economic headwinds but still expects strong performance with adjusted EBITDA forecasted between $1.43 billion and $1.47 billion for 2025. This expected performance is driven by continued earnings growth, operational efficiencies, and disciplined investments, including the integration of its recent acquisition, Grover Gaming.
Grover Gaming is expected to contribute $65 million to cash flow in its first full year. The company has also increased its stock-buyback authorization to $1.5 billion, with $950 million remaining. Much of the increased buyback authorization will go toward the Nasdaq withdrawal.
Light & Wonder has been pleased with the progress of the Grover Gaming purchase integration. Wilson highlighted new game-design hires and investments for future growth. One of the new games, Huff 'n More Puff, helped drive a 25% boost in North American revenue. Wilson reported an impressive 845 incremental adds for Huff 'n Puff, making it one of the top five quarters for the company.
The company will hold considerable liquidity in the Australian market after the move. Wilson noted a top-line impact attributable to sweepstakes games, less so in states that have taken anti-sweepstakes action. Light & Wonder's CEO also stated that SciPlay's performance is trending above industry average with a 12% market share.
CFO Oliver Chow stated that the newly passed federal budget and tax revisions would allow certain items to be expensed immediately and support demand in the second half and for several years to come. Despite earnings growth, sales were said to be down due to the launch of a new cabinet in Australia and operator caution in North America.
Wilson did not have significant updates on pending litigation, but trials are expected to commence in the first half of 2026, with the case against Aristocrat Leisure narrowed to the Dragon Train and Jewel of the Dragon games. A robust, regionalized roadmap for the rest of the year, including expansion into the Philippines, was revealed.
Following delisting, Light & Wonder shares will be traded solely on the ASX in Australia. Despite the challenges, Light & Wonder remains optimistic about its future growth and performance.
- Light & Wonder's strategic focus on the ASX involves consolidating listings, streamlining investor relations, and concentrating growth efforts in primary markets, such as Australia.
- The company's CEO, Matt Wilson, revealed exciting growth plans but did not elaborate, implying potential future developments in the business.
- The anticipated performance of Light & Wonder in 2025 includes strong earnings growth, operational efficiencies, and disciplined investments, including the integration of recent acquisition, Grover Gaming.
- Grover Gaming is expected to contribute $65 million to cash flow in its first full year, and the company has increased its stock-buyback authorization to $1.5 billion for the Nasdaq withdrawal.
