Light & Wonder confirmed its sole primary listing on the Australian Securities Exchange (ASX) will be concluded on 14 November, as it reported a 3% year-on-year (YoY) increase in revenue to $841m.

Plans of a sole ASX listing were floated in February but were put on hold in May.

During the firm’s Q2 investor call in August, CEO Matt Wilson said the aim was to delist from the Nasdaq Stock Exchange transition to a single listing in November – having had a small listing on the ASX since May 2023.

In pre-prepared remarks on Light & Wonder’s Q3 investor call on 5 November, Wilson confirmed the transition should be complete by 14 November.

He said: “This quarter, we returned $111m of capital to our shareholders through share repurchases, remaining nimble in the face of any near-term opportunities as we transition to a sole standard listing on the ASX, scheduled to take effect on 14 November in Australia, where we have been listed since May 2023.”

Financially, total revenue for the three months ending 30 September stood at $841m, up from $817m the year prior.

Consolidated adjusted EBITDA increased 18% year on year (YoY) to $375m, while net income increased significantly, with a 78% YoY jump to $114m.

Breaking total revenue down by segment, Light & Wonder’s gaming division grew 4% YoY to $558m on the back of gaming operations revenue – which increased 38% YoY to $241m.

SciPlay revenue decreased 4% YoY to $197m due to average monthly players declining, though this was partly offset by an increase in average monthly revenue per paying user (ARMPPU).

SciPlay’s average revenue per daily user (ARPDU) grew 4% YoY to $1.08, as AMRPPU grew 11% YoY to $126.23.

Light & Wonder’s igaming division recorded record revenue and adjusted EBITDA of $86m and $34m, respectively, continuing to reflect momentum in North America was “underpinned by first-party content proliferation and the expansion of our partner network”.

On the results, Wilson said: “I want to thank all stakeholders for their continued support, as we work toward completion of our transition to a sole primary listing on the Australian Securities Exchange, where we’ve been listed since 2022.

“This move simplifies our listing structure for shareholders and further enhances Light & Wonder’s role within a gaming-attuned Australian market.

“Our R&D engine continues to deliver world-class content, reflected in another strong quarter for gaming operations and record igaming performance.

“We are reinvesting in the business to drive long-term sustained growth, as evidenced by the number and quality of new games and hardware showcased at this year’s G2E.

“Additionally, we are thrilled to report that the integration of Grover Gaming into our omnichannel strategy is progressing well.

“The team is fully prepared to participate in the opening of the Indiana charitable gaming market, expected in the coming months.”

Oliver Chow, Light & Wonder CFO, added: “Our continued focus on operational excellence and disciplined execution once again drove year-on-year net income and consolidated adjusted EBITDA growth.

“We are also pleased with the strong cash flow generated this quarter, which continued the trend we have seen throughout the year.

“Combined with our disciplined capital allocation programme, we have now completed approximately 51% of our expanded share buyback programme, underscoring our confidence in the business, balance sheet flexibility and our ongoing commitment to returning value to shareholders.

“We remain committed to taking advantage of attractive opportunities to accelerate our repurchase programme, while delivering on our long-term financial objectives.”

Light & Wonder’s share price sits at $73.43 at the time of writing, remaining flat from the previous day.

The post Light & Wonder CEO confirms transition to ASX sole listing to be completed on 14 November first appeared on EGR Intel.