Light & Wonder updates Australian holdings By Investing.com

Light & Wonder, Inc., a company specializing in computer-integrated systems design, disclosed an update to the Australian Securities Exchange (ASX) regarding its holdings. On Thursday, July 4, 2024, the Nevada-based company, formerly known as Scientific Games (NASDAQ:) Corp, provided the ASX with a Statement of CHESS Depositary Interests on Issue (Appendix 4A).

The document, dated July 5, 2024, was furnished as Exhibit 99.1 in a Current Report on Form 8-K filed with the United States Securities and Exchange Commission (SEC) on Tuesday, July 9, 2024. This information, included in Item 7.01 of the 8-K filing, is intended for regulatory disclosure purposes and not for financial reporting. It is not to be considered “filed” under the Securities Exchange Act of 1934 and is not incorporated by reference into any of the company’s other filings under the Securities Act of 1933 or the Exchange Act.

Light & Wonder, which is traded on the Nasdaq Stock Market under the ticker NASDAQ:LNW, states that the information provided to the ASX is to be treated as informational and does not carry any liability under Section 18 of the Exchange Act. Furthermore, the company emphasizes that this disclosure should not be integrated into its filings under the Securities Act of 1933 or the Exchange Act.

The company’s update to the ASX reflects its ongoing compliance with international market regulations and its commitment to transparent communication with investors and regulatory authorities. The specifics of the CHESS Depositary Interests, which are a type of security used by the ASX to allow international companies to trade on the exchange, were not detailed in the press release statement.

In other recent news, Light & Wonder has demonstrated substantial growth in its Q1 earnings. The company’s consolidated revenue surged by 13% year-over-year to $756 million, marking its 12th consecutive quarter of growth and sixth straight quarter of double-digit revenue growth across all business lines. Of note, the gaming segment experienced a 30% rise in global game sales revenue, contributing to a 22% increase in adjusted NPATA to $105 million.

Light & Wonder’s expansion plans include the Illinois VGT market, Canadian VLT market, HHR expansion, and West Virginia VLTs. On the financial side, CFO Oliver Chow expressed commitment to a revenue target of $1.4 billion, with an emphasis on enhancing margins and maintaining a disciplined capital allocation strategy.

In terms of future plans, the company is exploring M&A opportunities that align with its core business and aims to reach a net debt leverage ratio of 3.0 times. These recent developments underline the company’s focus on growth initiatives and financial discipline.

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