Light & Wonder, a US-based gambling group, has announced the commencement of an on-market buyback of its CHESS depositary interests (CDIs) on the Australian Securities Exchange (ASX) starting today. Light & Wonder is a global leader in cross-platform games, offering a diverse portfolio of content and technology. The company provides a full suite of products and services for the gaming and interactive entertainment industries.
The buyback program, valued at US$1.5 billion, is set to continue until June 2027. It will operate concurrently with the company’s existing buyback activities on the Nasdaq until the stock’s delisting from that exchange, scheduled for November 13.
According to the latest figures from November 5, approximately US$705 million remained available under the buyback program. This allocation covers both the Nasdaq-listed shares and the ASX-listed CDIs. The company has appointed Goldman Sachs Australia to serve as the broker for the buyback on the ASX.
This strategic move reflects Light & Wonder’s ongoing commitment to delivering value to its shareholders through active capital management. The dual-market buyback demonstrates a comprehensive approach to optimising its capital structure following its Nasdaq delisting.
