Light & Wonder to Delist from Nasdaq, Transition to ASX on November 13
Light & Wonder, a global gaming company, is set to delist from the Nasdaq and transition to a full listing on the Australian Securities Exchange (ASX). The move, effective November 13, 2025, follows a period of regulatory approvals and technical conditions. Shareholders will need to convert their holdings into CHESS Depositary Interests (CDIs) for continued trading.
The final day of trading on Nasdaq will be November 12, 2025. Shareholders have the option to sell their stock before the suspension or continue to hold it for over-the-counter trading in the U.S. post-delisting. Light & Wonder will file a Form 25 notice with the U.S. Securities and Exchange Commission (SEC) on November 3, 2025, marking the official start of the delisting process.
Light & Wonder recently reported strong financial results, with $809 million in revenue in Q2 2025. Adjusted EBITDA also exceeded analysts' forecasts. Despite this, Benchmark lowered its price target for the company's shares from $100 to $90, while maintaining a Buy rating. The company has also secured a $1 billion private offering of senior unsecured notes at 6.25% interest, due in 2033, with JPMorgan Chase acting as the guaranteeing bank.
Light & Wonder's transition to the ASX is expected to be completed on November 14, 2025. Shareholders are advised to review their options and ensure their holdings are converted into CDIs for continued trading. The company's recent financial performance and bond issuance indicate a period of growth and stability.
