Light & Wonder: Lower Growth, Smaller Premium

Core Insights - Light & Wonder (NASDAQ: LNW) has experienced a significant stock price increase of 900% after divesting its lottery and sports betting units, which resulted in the elimination of over $1 billion in net debt [1] Company Overview - The company sold its lottery arm to Brookfield and its sports betting unit to Endeavor, focusing on its core business operations [1] Financial Impact - The divestitures led to a substantial reduction in net debt, enhancing the company's financial position and investor confidence [1]