BUZZ-Light & Wonder falls after legal blow

Reuters
2024-09-24

** Shares of U.S-based gaming co Light & Wonder fall ~16% to $94.7 premarket

** Co gets preliminary injunction order from U.S. District Court of Nevada for its Dragon Train game after rival Aristocrat Leisure's unit filed an intellectual property infringement claim

** LNW says respectfully disagree with the judge's decision and will promptly file an appeal

** Reaffirms its 2025 $1.4 bln targeted consolidated AEBITDA

** J.P. Morgan cuts PT to $103 from $111

** Brokerage says Dragon Train is a significant driver of LNW's shift in positive sentiment and sales and earnings momentum

** Co's Australia listing dropped 18%, worst day on record

** As of last close, LNW up 37.23% YTD

(Reporting by Sukriti Gupta)

((Sukriti.Gupta@thomsonreuters.com;))

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