Pre-market drops more than 15%! Gambling giant Light & Wonder's products banned from sale

According to the financial news app Zhitong Finance, before the U.S. stock market opened on Tuesday, the stock price of the American gambling giant Light & Wonder (LNW.US) experienced a sharp decline. The reason was that earlier, a court in Nevada, USA, issued a preliminary injunction to its competitor Aristocrat regarding the "Dragon Train" series of games under Light & Wonder. It is understood that Light & Wonder is mainly a manufacturer of electronic gaming machines, selling gaming machines to bars, clubs, and casinos. The company responded in a statement, stating, "We disagree with the judge's decision and will immediately appeal. We will continue to actively defend against Aristocrat's accusations, including presenting a defense to the jury at trial." The case was first filed in March this year, involving accusations against Aristocrat that "Dragon Train" is similar to their own "Dragon Link" series, and questioning the roles of two former Aristocrat designers, Emma Charles and Lloyd Sefton. These two designers were reportedly involved in the design of Dragon Link and are said to have also led the development of Dragon Train. According to a statement from Aristocrat, the court has prohibited Light & Wonder from "continuing or planning to sell, lease, or otherwise commercialize Dragon Train." Aristocrat cited the judgment of the Nevada court, stating that the court's ruling found that Aristocrat "is highly likely to successfully prove that Light & Wonder misappropriated Aristocrat's trade secrets in developing Dragon Train." Light & Wonder continued to respond, stating that the company is advancing a series of key initiatives to mitigate the direct impact of the order and any ongoing business interruptions, and reiterated its 2025 comprehensive AEBITDA target of $1.4 billion. Since the beginning of this year, Light & Wonder's stock price has cumulatively fallen by 37%, and on Tuesday pre-market, the stock fell by over 15%