Light & Wonder, Inc. (NASDAQ:LNW), a company specializing in computer integrated systems design, announced today a regulatory update to the Australian Securities Exchange (ASX). The Nevada-based company submitted a Statement of CHESS Depositary Interests on Issue, known as Appendix 4A, on Tuesday.
The document, Appendix 4A, was furnished as part of the company's Current Report on Form 8-K, which is not intended for filing purposes under Section 18 of the Securities Exchange Act of 1934, nor for incorporation into the company's filings under the Securities Act of 1933.
Light & Wonder, previously known as Scientific Games (NASDAQ:LNW) Corp, and with former names including Autotote Corp and United Tote Inc, has its principal executive offices located at 6601 Bermuda Road, Las Vegas, NV. The company's common stock is traded on the Nasdaq Stock Market under the ticker symbol LNW.
This disclosure is in accordance with Regulation FD, which aims to ensure that all investors have equal access to material company information. The submission of the Appendix 4A is part of the company's routine regulatory disclosures and does not necessarily indicate any significant change in the company's financial status or operations.
The information provided in the regulatory filing is based on a press release statement and is intended to keep investors and the market informed of the company's compliance and reporting practices, particularly in relation to its international operations and securities.
Light & Wonder's update to the ASX signifies the company's ongoing commitment to transparency and regulatory compliance in its operations across different markets. The company continues to maintain open communication channels with its investors and the broader financial community.
In other recent news, Light & Wonder reported a 12% increase in Q2 consolidated revenue to $818 million, with operating income rising to $175 million. The company also initiated a $1 billion share repurchase program and set a target of $1.4 billion adjusted EBITDA by 2025. However, the company faced a legal setback with the Dragon Train franchise, leading to revised price targets from Stifel and Susquehanna to $100 and $90, respectively.
Despite this, B.Riley and Maxim Group maintained a Buy rating on Light & Wonder, with B.Riley setting a price target of $120 and Maxim Group at $144. UBS also upgraded the company's rating from Neutral to Buy. These are recent developments in the company's performance and market position.
The company's market share gains are expected to continue, driven by an expansion of product offerings, entry into new categories, and potential market disruptions due to mergers and acquisitions among competitors.
Light & Wonder's commitment to regulatory compliance was demonstrated through a recent update to the Australian Securities Exchange concerning its CHESS Depositary Interests.
InvestingPro Insights
Light & Wonder's recent regulatory update to the Australian Securities Exchange aligns with its commitment to transparency, which is further reflected in its financial performance. According to InvestingPro data, the company has shown solid growth with a 12.75% increase in revenue over the last twelve months as of Q2 2024, reaching $3.077 billion. This growth trajectory is complemented by an impressive gross profit margin of 70.46%, highlighting the company's operational efficiency.
InvestingPro Tips suggest that Light & Wonder's financial health is robust, with liquid assets exceeding short-term obligations. This strong liquidity position supports the company's ability to meet its financial commitments and potentially invest in growth opportunities. Additionally, the company has been profitable over the last twelve months, with analysts predicting continued profitability this year.
For investors seeking more comprehensive insights, InvestingPro offers 10 additional tips for Light & Wonder, providing a deeper understanding of the company's financial landscape and potential investment considerations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.