Light & Wonder, a poker machine and digital gaming group, will meet Australian fund managers in coming weeks, to test whether there’s appetite to seek a secondary listing on the ASX.
Wonder is back toying with the idea of an ASX-listing, wondering whether it could fill a hole left by Crown Resorts and trade like its rival Aristocrat Leisure.
Only 18 months after pulling plans to float its lotteries business in Australia, the company told shareholders it was evaluating a potential secondary listing on the ASX in addition to home on the Nasdaq. Former Aristocrat boss Jamie Odell is back in front of Australian investors, this time for US-listed Light & Wonder.The poker machines and digital gaming group said an ASX-listing could enhance its profile in Australia, one of its biggest markets, and give it access to new long-term institutional investors that could join the likes of Caledonia on the share register.Wonder, while Flagstaff is also an adviser to the board.
Fund managers will have 2021’s SciGames Lotteries floats in the back of their minds. On that occasion, LightHowever, fundies will also know the ASX’s large cap gaming sector has a Crown Resorts-sized hole, a troubled The Star Entertainment Group, the usually reliable Aristocrat and not a lot else... co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
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