Light & Wonder shares rise on $1.59b credit agreement
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The news: Light & Wonder shares advanced on the ASX after the dual-listed gambling group secured new revolving credit commitments of USD1 billion ($1.59 billion).
The numbers: Light & Wonder shares were up 2.3% to $153.39 by 12:45pm AEDT.
The agreement with "several banks and other financial institutions or entities" replaces Light & Wonder's existing revolving commitments of $750 million and extends the maturity of the commitments from 2027 to 2030.
The context: The Aristocrat rival dual-listed on the ASX in 2023, with its Nasdaq listing was added to the Russell 1000 index last year.
The company's share price has fluctuated in since September after a US district court filed an injunction in relation to its Dragon Train-themed poker machines, which Aristocrat claimed breached copyright for its own Dragon Link pokies.
The source: ASX announcement
