Light & Wonder to List on ASX in Nov 2025, Shareholders Have Options
Light & Wonder, a global gaming company, is set to switch its primary listing to the Australian Securities Exchange (ASX), subject to regulatory approvals. Shareholders have options to sell their stock or hold for over-the-counter trading in the U.S. after delisting.
The transition is scheduled for November 2025. Light & Wonder will cease trading on the Nasdaq on November 12, with the final withdrawal from the market occurring on November 13. Trading will resume exclusively on the ASX from November 14. To continue trading, investors must convert their holdings into CHESS Depositary Interests (CDIs).
The company reported strong financials in Q2 2025, with $809 million in revenue and Adjusted EBITDA slightly above forecasts. Light & Wonder also completed a $1 billion private offering of senior unsecured notes at 6.25% interest, due in 2033. Despite these positives, Benchmark lowered its price target for the shares from $100 to $90, maintaining a Buy rating.
Light & Wonder's switch to the ASX is subject to regulatory approvals and technical conditions. Shareholders can sell their stock before the Nasdaq suspension or hold for over-the-counter trading in the U.S. after delisting. The company's strong Q2 2025 financials and recent bond offering indicate a robust financial position, despite a slight adjustment in the price target by Benchmark.
