Aristocrat expects to book US$32mln in legal cost recovery after litigation vs Light & Wonder : Croker
Aristocrat Leisure Ltd expects to recover approximately US$31.7 million (AUD45 million) in legal costs from its US$127.5 million intellectual-property settlement with Light & Wonder Inc. This was announced by CEO Trevor Croker at the firm's AGM, where he also outlined growth opportunities in gaming markets, new market entries like the UAE, and strategic acquisitions to enhance technology and AI capabilities. The company is committed to proactively defending its intellectual property.
Are Light & Wonder shares a buy after tumbling 7% yesterday?
Light & Wonder Inc (ASX: LNW) shares dropped 7.46% yesterday, despite the broader market seeing gains. This gaming and entertainment company recently settled a legal dispute with Aristocrat Leisure Ltd, which had initially boosted its stock. Now, with the shares declining over 16% in the last month, analysts at Morgan Stanley and TradingView suggest this might be a buying opportunity, forecasting significant upside potential.
Light & Wonder Seeks ASX Quotation for Additional CDIs
Light & Wonder Inc. has applied for quotation of 8,772 additional CHESS Depositary Interests (CDIs) on the ASX, to be issued on February 11, 2026. This move, stemming from exercised convertible securities, aims to modestly increase the CDI float and provide more tradable equity for Australian investors, enhancing liquidity in the ASX market. The company, a gaming and entertainment firm, currently has a "Buy" rating from analysts with a A$220.00 price target.
Light & Wonder to Report Fourth Quarter and Full Year 2025 Results on Tuesday, February 24, 2026
Light & Wonder, Inc. announced it will release its financial results for the fourth quarter and full year 2025 on Tuesday, February 24, 2026, after U.S. markets close. The company will host an investor conference call and webcast on the same day at 5:00 p.m. U.S. Eastern Time to discuss the results. Interested parties can access the webcast or register for the conference call through the company's investor relations website.
Light & Wonder to Report Fourth Quarter and Full Year 2025 Results on Tuesday, February 24, 2026
Light & Wonder, Inc. announced it will release its financial results for the fourth quarter and full year 2025 on Tuesday, February 24, 2026, after U.S. markets close. The company will host an investor conference call and webcast the same day at 5:00 p.m. U.S. Eastern Time to discuss the results. Interested parties can access the webcast or register for the conference call through Light & Wonder's investor relations website.
Vanguard Discloses 5.75% Stake in Light & Wonder After Internal Realignment
Vanguard Group has reported a 5.75% stake in Light & Wonder, Inc., holding 4,690,772 depository receipt shares. This disclosure comes after an internal realignment within Vanguard, effective January 12, 2026, which changes how its Light & Wonder holdings and other investments will be reported. The realignment signifies that Vanguard itself will no longer directly manage portfolios or proxy voting for these stakes, with subsidiaries expected to report beneficial ownership separately.
Light & Wonder agrees to settlement with Aristocrat over Dragon Train slot games
Light & Wonder has reached a settlement with Aristocrat Gaming concerning a legal dispute over the use of Aristocrat's intellectual property in Light & Wonder's Dragon Train and Jewel of the Dragon slot games. As part of the settlement, Light & Wonder will pay Aristocrat $127.5 million, discontinue the games globally, and cease using Aristocrat's trade secrets. This agreement follows court rulings in Aristocrat's favor in both Australia and the United States, stemming from allegations that a former employee shared proprietary information with Light & Wonder.
Fine capital partners sells Light & Wonder (LNWO) stock worth $1m
Fine Capital Partners, including Debra Fine, sold 9,037 shares of Light & Wonder (NASDAQ:LNWO) stock for over $1 million on January 27, 2026, though they still retain a significant holding. This transaction follows Light & Wonder's mixed Q3 2025 earnings, where the company beat EPS expectations but missed revenue forecasts. The sale and earnings report offer insights into the company's recent financial activities and performance.
Fine capital partners sells Light & Wonder (LNWO) stock worth $1m
Fine Capital Partners, including Debra Fine, reported selling 9,037 shares of Light & Wonder, Inc. (NASDAQ: LNWO) common stock on January 27, 2026, for a total of over $1 million. Following these transactions, the firm still retains a significant holding of over 8 million shares. This news comes amidst Light & Wonder's mixed Q3 2025 earnings, where the company beat EPS expectations but missed revenue forecasts.
Fine capital sold Light & Wonder (LNWO) shares worth $662k
Fine Capital Partners, along with Fine Capital Advisors and Debra Fine, sold 5,694 shares of Light & Wonder (NASDAQ:LNWO) for approximately $662,141 on January 22, 2026, though they still retain over 8 million shares. This transaction follows Light & Wonder's mixed Q3 2025 earnings report, which showed a significant EPS beat but a slight revenue miss.
Fine capital sold Light & Wonder (LNWO) shares worth $662k By Investing.com
Fine Capital Partners, L.P. and its affiliates sold 5,694 shares of Light & Wonder, Inc. (NASDAQ:LNWO) for over $662,000 on January 22, 2026, though they still retain a significant stake. This transaction follows Light & Wonder's recent mixed third-quarter 2025 earnings, which saw an EPS beat but a revenue miss. The company's EPS exceeded forecasts by 30.22%, while revenue fell short by 2.98%.
Light & Wonder refinances $2.13 billion term loan
Global gaming supplier Light & Wonder has refinanced its existing debt by entering into an amendment to its 2022 credit agreement. This new arrangement provides over US$2.13 billion in term loans, replacing previous ones and reducing the applicable margin to either 2.00% or 1.0% depending on the base rate. The new loan is set to mature on April 29, 2029.
Light & Wonder refinances US$2.13 billion term loan
Light & Wonder has refinanced a US$2.13 billion term loan by entering into an amendment to its 2022 credit agreement. This new tranche of term loans will replace existing debt and reduce the applicable margin to 2.00% or 1.0% using an alternate base rate, maturing on April 29, 2029. The original loan was secured to pay off high-interest legacy debt and support the company's gaming expansion following its demerger from Scientific Games.
Light & Wonder Lands $2.1 Billion Loan Refinance Deal
Light & Wonder Inc., a casino equipment and online gaming provider, has secured a new $2.13 billion term loan facility due in April 2029. This refinancing deal replaces previous term loans and reduces the interest rate margin by 0.25 percentage points, lowering borrowing costs. The move comes as the company experiences strong financial performance, with net income doubling in Q3 2025, and positions it aggressively for market share in the evolving gaming landscape.
Light & Wonder raises US$2.13bn tranche under existing credit facility
Light & Wonder Inc. has secured a new US$2.13 billion tranche of term loans under its current credit facility, maturing in April 2029. This financing, led by JPMorgan Chase Bank, aims to replace existing term loans to reduce the interest margin by 0.25 percentage points. The funds will be used to repay outstanding debt, with the company reporting liabilities of nearly US$5.79 billion and net income of US$114 million for the three months ending September 30, 2025.
Light & Wonder secures new term loans worth US$2.1bln to repay existing debt
Light & Wonder Inc has secured new term loans totaling US$2.13 billion due in April 2029 to replace existing debt and reduce interest rates. This move follows a strong financial performance in Q3 2025, where the company reported a net income of US$114 million on US$841 million in revenue. The new loans carry a 0.25 percentage point reduction in annual interest rates, managed by JPMorgan Chase Bank and other financial institutions.
Light & Wonder Signs Credit Agreement Amendment With JPMorgan Chase Bank and Other Lenders
Light & Wonder (LNW) has amended its Credit Agreement to refinance existing term loans. The amendment creates a new $2.13 billion term loan tranche maturing in April 2029, replacing previous loans, and reduces interest margins. These changes are anticipated to lower borrowing costs and extend the maturity of the company's loans.
Fine capital sold Light & Wonder (LNWO) shares worth $3.6m
Fine Capital Partners, L.P., along with Fine Capital Advisors, LLC, and Debra Fine, sold shares of Light & Wonder, Inc. (NASDAQ:LNWO) totaling $3,671,928 between January 19 and January 21, 2026. Despite these sales, Fine Capital Partners still indirectly holds over 8.1 million shares. The company recently reported strong Q3 2025 EPS, exceeding analyst expectations, though revenue fell short.
Major Shareholder Fine Capital Trims Light & Wonder Stake in Series of Stock Sales
Fine Capital Partners, a major shareholder in Light & Wonder, has reduced its stake in the company through a series of stock sales between January 19 and 21, 2026. The investment firm, identified as a 10% owner, sold shares at weighted average prices ranging from $115 to $121, resulting in an indirect beneficial interest of approximately 8.17 million shares. This move is considered a portfolio adjustment and will be closely watched by investors for insights into institutional sentiment towards Light & Wonder's valuation and prospects.
BlackRock Reports 0.9% Stake in Light & Wonder Class A Shares
BlackRock has disclosed a 0.9% beneficial stake in Light & Wonder, Inc. Class A shares, holding 699,360 shares with sole voting and dispositive power. Light & Wonder is a U.S.-based gaming and entertainment company. An analyst has a Buy rating on Light & Wonder stock with a A$200.00 price target.
Light & Wonder Boosts Portfolio With Strategic Buyout: Stock to Gain?
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Light & Wonder To Unveil Next-Generation Portfolio at ICE 2026
Light & Wonder (L&W) will showcase a "dynamic lineup of next-generation gaming experiences" at ICE 2026 in Barcelona, featuring their multi-game solution Reel Choice™, an expanded cabinet lineup, new table progressives, and digital innovations. The company aims to demonstrate its continued evolution in global content and hardware strategy, focusing on localized solutions and integrated player experiences. The exhibition will also highlight new offerings in iGaming, including expanded digital franchises and new Digital-First game families.
Light & Wonder Seeks ASX Quotation for Additional 214 CDIs
Light & Wonder, Inc. (AU:LNW) has applied to the ASX for the quotation of an additional 214 CHESS Depositary Interests (CDIs), set to be issued on January 19, 2026. This modest increase in CDIs stems from the exercise or conversion of existing securities and is not indicative of a major capital raise or strategic shift. Analysts currently rate LNW stock as a Buy with a price target of A$192.00.
Light & Wonder Reports Lapse of Restricted Stock Units on ASX
Light & Wonder (AU:LNW) announced the lapse of 1,484 performance restricted stock units and 16,254 restricted stock units on December 31, 2025, due to unmet conditions. This reduces potential future equity dilution and indicates that certain performance or service-based hurdles tied to these awards were not achieved. An analyst currently rates LNW stock as a Buy with a A$192.00 price target.
Fine capital sold Light & Wonder (LNWO) shares worth $1.5m
Fine Capital Partners, L.P. sold shares of Light & Wonder, Inc. (NASDAQ:LNWO) totaling over $1.5 million on January 9, 2026. Despite these sales, the stock has since surged about 14%, trading near its 52-week high. Fine Capital entities still retain a significant stake in Light & Wonder, and the company recently reported Q3 2025 earnings with an EPS beat but a revenue miss.
Fine capital sold Light & Wonder (LNWO) shares worth $1.5m
Fine Capital Partners, L.P. sold over $1.5 million worth of Light & Wonder, Inc. (LNWO) shares on January 9, 2026. Despite these sales, the firm still holds over 8 million LNWO shares, and the stock has since surged about 14%. Light & Wonder recently reported a beat on EPS but a slight miss on revenue for its third quarter of 2025.
Light & Wonder settlement of ‘Dragon Train’ legal row welcome, but stock re-rate requires work on FY2028 targets: JPM
JP Morgan Securities Australia Ltd. views Light & Wonder Inc’s US$127.5 million settlement with Aristocrat Leisure Ltd over the “Dragon Train” slot product as a positive surprise and a removal of litigation overhang. However, despite a 10-percent increase in their price target to AUD161 per share and a reduction in WACC, JP Morgan remains "neutral" on Light & Wonder's shares. They believe a stock re-rating will require Light & Wonder to demonstrate progress towards its financial year 2028 targets, de-leverage its balance sheet, and expand its game portfolio depth.
Aristocrat Inks $127.5M Deal In Slot Machine Trade Secret Suit
Light & Wonder Inc. has agreed to pay Aristocrat Technologies Inc. $127.5 million to resolve a trade secret misappropriation lawsuit. The suit alleged that Light & Wonder used Aristocrat's trade secrets in the development of its slot machine technology. The settlement brings an end to the legal dispute between the two gambling game companies.
Aristocrat Inks $127.5M Deal In Slot Machine Trade Secret Suit
Gambling game company Light & Wonder Inc. has agreed to a $127.5 million settlement with competitor Aristocrat Technologies Inc. The settlement resolves allegations that Light & Wonder misappropriated Aristocrat's trade secrets during the development of its slot machines. The lawsuit, filed in Nevada, was brought under the Defend Trade Secrets Act.
Light & Wonder to showcase next-gen line-up of slots, cabinets and tables at ICE Barcelona
Light & Wonder is set to unveil its next-generation gaming experiences at ICE Barcelona, highlighted by the multi-game solution REEL CHOICE and an expanded Cosmic cabinet family. The company will also showcase advanced Table and Systems technology, including the Obsidian ETG cabinet and Nexlink Progressive, alongside a powerful iGaming roadmap. Their focus is on delivering regionally customized, connected, and player-centric experiences to European gaming floors.
Light & Wonder Settles Dragon Train Dispute With $127.5 Million Payment to Aristocrat
Light & Wonder has resolved a prolonged intellectual property dispute with Aristocrat Leisure Limited by agreeing to pay $127.5 million. The settlement addresses claims that Light & Wonder misappropriated Aristocrat's trade secrets for its Dragon Train and Jewel of the Dragon games, leading to the global cessation of these games and the implementation of strengthened internal policies. This agreement allows both companies to move forward, with Aristocrat protecting its IP and Light & Wonder refocusing on future game development.
Light & Wonder shares surge on settlement with Aristocrat Leisure
Light & Wonder has settled a multi-million-dollar intellectual property dispute with Aristocrat Leisure, agreeing to pay US$127.5 million. The settlement requires Light & Wonder to cease commercialization of its Dragon Train and Jewel of the Dragon games, acknowledging the use of Aristocrat's math information. This resolution led to a significant surge in Light & Wonder's shares, while Aristocrat's claims in Australia and the US will be dismissed.
Light & Wonder jumps on settlement with Aristocrat
Light & Wonder's shares surged over 16% on the ASX after settling intellectual property litigation with Aristocrat Leisure Limited. Light & Wonder will pay Aristocrat US$127.5 million and cease commercializing its Dragon Train and Jewel of the Dragon games globally due to the use of Aristocrat's math information. Analysts view the settlement positively, removing a significant legal overhang for both companies.
Light & Wonder to pay Aristocrat US$127.5mln to settle ‘Dragon Train’ dispute
Light & Wonder has agreed to pay Aristocrat US$127.5 million to settle a legal dispute regarding alleged infringement of trade secrets concerning their "Dragon Train" and "Jewel of the Dragon" games. As part of the settlement, Light & Wonder will cease commercialization of these games globally and destroy all related documents, while Aristocrat will drop its lawsuits in the US and Australia. This resolution emphasizes the gaming industry's commitment to protecting valuable intellectual property and addresses an issue stemming from a former employee's inappropriate use of Aristocrat's math information.
Light & Wonder settles Aristocrat lawsuit with $190m payout
Light & Wonder Inc. (ASX: LNW) has settled its legal dispute with Aristocrat Leisure Ltd (ASX: ALL) by agreeing to pay US$127.5 million (approximately AUD$190 million). The settlement addresses claims of intellectual property misappropriation in two of Light & Wonder's games, Dragon Train and Jewel of the Dragon, which will now be permanently ceased and removed globally. Light & Wonder has also committed to not using Aristocrat's intellectual property in future games and has implemented strengthened internal processes to prevent similar incidents.
Light & Wonder Settles IP Dispute With Aristocrat for $127.5 Million
Light & Wonder has resolved an intellectual property dispute with Aristocrat Leisure, agreeing to pay $127.5 million and cease global commercialization of its "Dragon Train" and "Jewel of the Dragon" games. The settlement, which covers litigation in Australia and the US, also involves the destruction of Aristocrat-derived materials and the implementation of new procedures to address game math in other titles. Both companies emphasized the importance of protecting proprietary IP in the gaming industry to foster innovation and fair competition.
Joint Statement Regarding Resolution of Litigation Between Aristocrat and Light & Wonder
Aristocrat Leisure Limited and Light & Wonder have settled their litigation regarding intellectual property infringement. Light & Wonder will compensate Aristocrat USD $127.5 million, cease commercialization of the disputed games (Dragon Train and Jewel of the Dragon) globally, and destroy documents related to Aristocrat's math information. Both companies emphasize the importance of protecting intellectual property in game design and development.
Fine Capital trims large stake in Light & Wonder
Fine Capital Partners, a New York-based investment firm, has significantly reduced its stake in casino equipment provider Light & Wonder. The firm sold 3.5 million shares, bringing its total holdings down to 9.9 million shares, or 10.3% of the company, down from 14%. Despite this reduction, Fine Capital remains the largest institutional holder of Light & Wonder stock, which has seen its shares rise 32% over the last 12 months.
Fine Capital trims large stake in Light & Wonder
Fine Capital has reduced its significant stake in Light & Wonder. This move indicates a notable change in the investment firm's position regarding the gaming and lottery company.
Fine capital sold Light & Wonder (LNWO) shares worth $2.06 million
Fine Capital Partners, L.P., along with affiliates, sold 19,900 shares of Light & Wonder, Inc. (NASDAQ:LNWO) for a total of $2.06 million on December 29, 2025. This sale followed the company's Q3 2025 earnings report, which showed an EPS beat but a revenue miss. Despite the revenue shortfall, the market reacted positively to the earnings beat.
Fine capital sold Light & Wonder (LNWO) shares worth $2.06 million
Fine Capital Partners, along with Fine Capital Advisors and Debra Fine, sold 19,900 shares of Light & Wonder, Inc. (NASDAQ:LNWO) for a total of $2,066,630 through multiple transactions on December 29, 2025. This sale occurred shortly after Light & Wonder reported mixed Q3 2025 earnings, beating EPS expectations but missing revenue forecasts. Following these sales, Fine Capital Partners still holds over 8.2 million shares of the company's common stock.
Light & Wonder continues on‑market buy-back of ASX CDIs
Light & Wonder is continuing its on-market buy-back of ASX CHESS Depositary Interests (CDIs). This ongoing action indicates the company's continuous effort to manage its capital structure through share repurchases.
Light & Wonder, Inc. Updates on Securities Buy-Back
Light & Wonder, Inc. has announced updates on its ongoing buy-back of CHESS Depositary Interests, repurchasing 46,057 securities on the previous day, bringing the cumulative total to 506,097 since December 2, 2025. This move is part of the company's strategy to manage its capital structure and potentially enhance shareholder value. Analysts currently rate the stock with a "Buy" and a A$206.00 price target.
Fine capital sold Light & Wonder (NASDAQ:LNWO) shares worth $2.2m
Fine Capital Partners, along with related entities, sold 15,232 shares of Light & Wonder, Inc. (NASDAQ:LNWO) on December 8th and 9th, 2025, totaling $2.206 million. The sales occurred at prices ranging from $150.8338 to $155.5018, and after these transactions, Fine Capital Partners still indirectly owns over 8.2 million shares. The company, Light & Wonder, recently reported mixed Q3 2025 earnings with an EPS beat but a revenue miss.
Fine capital sold Light & Wonder (NASDAQ:LNWO) shares worth $2.2m
Fine Capital Partners, L.P., and related entities, sold 15,232 shares of Light & Wonder, Inc. (NASDAQ:LNWO) for a total of $2.206 million on December 8th and 9th, 2025. Following these transactions, Fine Capital Partners still indirectly holds 8,244,187 shares. The sales occurred across multiple transactions with prices ranging from $150.8338 to $155.5018.
Fine capital partners sells Light & Wonder (LNWO) shares for $2.2m
Fine Capital Partners, a significant owner of Light & Wonder, Inc. (NASDAQ:LNWO), sold 14,480 shares for approximately $2.2 million on December 8th and 9th, 2025. These sales occurred at prices ranging from $150.8338 to $155.5018, potentially influenced by the stock's overbought RSI suggesting a strategic timing. Following these transactions, Fine Capital Partners still holds 8,244,187 shares of Light & Wonder.
AGEM Index down m-o-m in November, Light & Wonder biggest positive
The AGEM index, measuring stock prices of casino technology suppliers, decreased by 1.5% month-on-month in November, although it was up 16.0% year-on-year. Light & Wonder Inc. was the largest positive contributor to the index, while Aristocrat Leisure Ltd. was the largest negative contributor. This comes as two out of three major US stock indices saw increases during the same month.
Empowered Funds LLC Takes Position in Light & Wonder, Inc. $LNW
Empowered Funds LLC recently acquired 169,763 shares of Light & Wonder, Inc. (NASDAQ:LNW), valued at approximately $16.34 million, making them a new institutional investor in the company. Light & Wonder exceeded EPS estimates but missed revenue expectations in its latest quarter, with institutional investors now owning 88.08% of the stock. Analyst sentiment is mixed, holding an average "Hold" rating with a price target of $102.14.
Geode Capital Management LLC Cuts Stock Position in Light & Wonder, Inc. $LNW
Geode Capital Management LLC reduced its stake in Light & Wonder Inc. by 3.4% during the second quarter, selling over 56,000 shares. Despite this, the institutional investor still holds a significant 1.92% of the company's stock, valued at over $156 million. Analyst ratings for Light & Wonder average "Hold" with a target price of $102.14, following a mixed third-quarter earnings report where EPS beat estimates but revenue fell short.
LNW shifts to sole ASX listing; voting standard revised in bylaws
Light & Wonder, Inc. (LNW) has transitioned from a dual Nasdaq/ASX listing to a sole standard listing on the ASX, with its stock delisted from Nasdaq on November 13, 2025. This change involved amending its bylaws, effective the same day, to align with ASX rules, including revising the voting standard for non-director matters to a majority of votes cast and updating exclusive forum provisions. The company expects full deregistration from Nasdaq 90 days after its Form 25 filing on November 3, 2025.
