Light & Wonder announces new $1B revolving credit facility

February 12, 2025

Light & Wonder announces new $1B revolving credit facility

Gaming equipment and services group Light & Wonder (L&W) has announced a $1 billion revolving credit commitment.

The new agreement, which has been secured with several major banks and financial institutions, replaces the company’s prior revolving commitments of $750 million. The new deal extends the maturity of these commitments until from 2027 to 2030, offering the company more financial flexibility.

On February 10th, 2025, L&W’s wholly owned subsidiary Light & Wonder International, Inc. (L&WPI), entered into an amendment to its existing Credit Agreement. This step marks an important shift for the company as it enhances its financial capacity amidst ongoing legal challenges and industry competition.]

In latest news, the Federal Court of Australia on Friday (7 February 2025) turned down Australian slot machine major Aristocrat Technology’s request seeking an interlocutory injunction against rival Light & Wonder Inc, concerning the latter’s “Dragon Train” product.

This ruling comes as a major blow to Aristocrat which was granted a preliminary injunction by the United States District Court for the District of Nevada in September 2024. This judgement by the Australian court could produce serious ramifications for gaming majors and the Australian gambling industry.

Aristocrat’s allegations

Aristocrat Leisure Ltd accused Light & Wonder of intellectual property theft, claiming that Dragon Train bore too many similarities to its own Dragon Link series. The allegations included misappropriation of trade secrets, copyright infringement, copying game mechanics and gameplay elements, using copyrighted audiovisual assets, and deceptive trade practices.

Aristocrat also highlighted the significant presence of former Aristocrat executives in senior positions at Light & Wonder, particularly two former game designers involved in the development of Dragon Train.

Legal proceedings in Australia

Justice Stephen Burley of the Federal Court of Australia rejected Aristocrat’s request for an injunction on 7 February 2025. While his reasons remain under a non-disclosure order, the ruling ensures that Dragon Train machines can continue operating in Australia without interruption.

Around 10,000 Dragon Train machines are installed across Australia, and casino operators will not need to take any action against them. Light & Wonder’s NASDAQ-listed shares jumped 11 percent following the court decision, and its ASX-listed shares increased by 7.5 percent. The Australian litigation concerns have eased, and Light & Wonder can now turn its attention to its 2025 content pipeline.

In response to a media query, Aristocrat spokesperson told, “Aristocrat notes the court’s ruling and will review its reasons once published. Aristocrat welcomes the undertakings given by Light & Wonder and Ms Charles, subject to the court’s final determination, before the recent hearing in these proceedings.”