Light & Wonder, Inc. (NASDAQ:LNW), a Nevada-based company specializing in computer integrated systems design, has disclosed a regulatory filing with the Australian Securities Exchange (ASX) on Monday. The document, known as Appendix 4A, details the current status of CHESS Depositary Interests on issue, a type of security used by the ASX for international companies.
The filing, dated December 6, 2024, does not alter the company's financial position and is not considered filed for the purposes of liabilities under the Securities Exchange Act of 1934. Furthermore, the information contained within is not to be incorporated by reference into any of the company's filings under the Securities Act of 1933 or the Exchange Act.
Light & Wonder, previously known as Scientific Games (NASDAQ:LNW) Corp and with a history of name changes including Autotote Corp and United Tote Inc, operates from its principal executive office in Las Vegas, Nevada. The company's common stock is listed on the Nasdaq Stock Market under the symbol LNW.
This regulatory update is a routine disclosure and does not reflect any material changes to Light & Wonder's operations or financial health. The company has ensured compliance with international securities regulations by providing this information to the ASX.
Investors and stakeholders can access the Appendix 4A filing as Exhibit 99.1 in the company's Form 8-K, which was signed by James Sottile, Executive Vice President, Chief Legal Officer, and Corporate Secretary of Light & Wonder, Inc. The report is based on a press release statement and is intended to keep the market informed of the company's statutory obligations.
In other recent news, Light & Wonder Inc. reported a 12% year-over-year increase in its Q3 2024 revenue, reaching $817 million. This marks the company's 14th consecutive quarter of growth, with the gaming segment showing a significant 15% revenue boost, primarily driven by a 38% rise in global gaming machine sales. The company also reported a consolidated AEBITDA of $319 million and an Adjusted NPATA increase of 23% to $122 million.
Recent developments show that Light & Wonder is planning to leverage its strong balance sheet to support growth initiatives and shareholder value through buybacks and reinvestment. The company anticipates low single-digit AEBITDA growth for Q4 2024 but expects to return to normalized growth in 2025.
Light & Wonder's management is confident in the product pipeline and market position for sustained future growth. The company is also working on mitigation efforts to deal with the impact of the Dragon Train injunction. Analysts have highlighted the company's diversified portfolio, maintaining the number one ship share in the Australian market, and a leading market share in Asia. The company expects positive growth in the US Class III replacement market into 2025.
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