Updated court order ‘incremental positive’ for Light & Wonder, says Jefferies

Jefferies analyst David Katz notes that according to an updated Nevada district court ruling in the Dragon Train matter, Light & Wonder will not have to provide its math on all Hold and Spin games and Aristocrat Leisure must specifically identify the trade secrets it is seeking to protect, calling the court order “an incremental positive” for L&W. The firm, which views the case “generally as background noise in the near term,” as well as “financially limited, and beside the key point of our thesis,” has a Buy rating and $116 price target on Light & Wonder shares.