Light & Wonder has announced plans to delist its common stock from the Nasdaq Stock Market and transition to a sole primary listing on the Australian Securities Exchange (ASX).
The supplier said the decision reflects its "strategic focus on aligning our capital markets presence with our long-term growth plans and shareholder base."
It described the ASX as a "deep and liquid market" with strong institutional understanding of the gaming industry.
According to the company, a Form 25 will be filed with the US Securities and Exchange Commission on 3 November 2025 (EST), with trading on the Nasdaq expected to end after market close on 12 November 2025. The delisting will take effect the following day.
The move follows a period of strategic realignment for Light & Wonder, which has been consolidating its global operations under a unified capital structure. The company said the transition to a single listing would enhance trading liquidity and better reflect its shareholder distribution, which has become increasingly weighted toward Australia since its ASX debut in 2023.
The delisting announcement also comes as Light & Wonder continues to address ongoing legal proceedings with Aristocrat Gaming.
The Nevada District Court recently granted Aristocrat access to the company's math models as part of its trade secret case concerning the Dragon Train slot title.
Light & Wonder said it will comply with the court's ruling while maintaining that Aristocrat's proprietary material was not used in its products. The discovery phase of the case is expected to close in December 2025, with expert discovery concluding in March 2026.
Good to know: Light & Wonder was formerly Scientific Games, rebranding in 2022 after divesting its lottery business to focus exclusively on gaming and digital operations
