LNW +10.48%: The District Court of Nevada has issued an update on the ongoing discovery dispute in the case between Aristocrat and Light & Wonder regarding the Dragon Train game. According to court minutes, Aristocrat’s motion to compel Light & Wonder to produce its “hold and spin” math models dating back to 2021 has been denied. In our view, this may make it more challenging for Aristocrat to demonstrate that its trade secrets were used in other Light & Wonder titles beyond Dragon Train.
Nevertheless, given the prior injunction on Dragon Train, we continue to anticipate that Light & Wonder could still be liable for damages, though todays update is clearly a positive.
- LNW resides on our Hitlist for the Emerging Companies Portfolio
MM is cautiously bullish LNW ~$140
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