Las Vegas-based cross-platform games and entertainment company LNW replaced United Malt Group (UMG) in the ASX200 on the 13th of October, just a few weeks ago; it’s an $11.8bn business that services customers worldwide while the stock also trades in the US under ticker code (LNW US), i.e. it’s the CDI’s trading on the ASX. The company’s third-quarter performance exceeded expectations, delivering an upward trend in most business areas. The strong performance reinforced LNW’s potential to reach its $1.4 billion earning (AEBITDA) goal by 2025, i.e., a 15% Compound Annual Growth Rate from 2022.
In the third quarter, LNW’s total revenues rose to $731 million, surpassing the market’s expected $717 million. Strong sales in the gaming sector were a key driver for this performance. Furthermore, the company’s effective use of Artificial Intelligence and technology to maximise operational efficiency is a promising trend for achieving its 2025 targets.
- We can see LNW continuing to trade around the $130 area over the coming months.
MM is neutral towards LNW ~$130
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