Gaming equipment provider Light & Wonder said last week it was exploring a secondary stock listing on the Australian Securities Exchange in an effort to increase its profile in the country where it is seeking business opportunities for its slot machines and other casino products.

In a statement, the Las Vegas-based company, which is publicly traded in the U.S. on the Nasdaq composite, said a listing in Australia is one avenue being considered by the company’s board.

Light & Wonder Executive Chairman Jamie Odell and CEO Matt Wilson are two of several native Australians overseeing the gaming equipment provider, which took on a new name last year after selling its lottery business and sports betting technology and management operations.

Odell is the former CEO of Australia-based slot machine developer Aristocrat Technologies and Wilson was a top executive with the company. Aristocrat is listed on the Australian Securities Exchange.

In a statement, Odell said the Australian stock market has “a long track record as a platform for global gaming companies and a deep and liquid pool of sophisticated investors and market participants who have a strong understanding of the gaming business.”

He suggested the market might be receptive “to the value and long-term potential of Light & Wonder’s broad international business and strategy.”

Truist Securities gaming analyst Barry Jonas told investors in a research note that Light & Wonder’s announcement wasn’t centered on the company seeking to raise money or shareholders looking to sell holdings.

“In Australia, a premium, blue-chip stock with steady cash flows and a strong track record can receive a higher multiple because several large investment funds are explicitly mandated to invest in Australian listed companies,” Jonas wrote.

“Light & Wonder is early in any strategic process and currently soliciting feedback from shareholders,” Jonas added. “Several questions around the structure are too preliminary to be answered at this time.”

Jefferies gaming analyst David Katz had a similar view, telling investors in a research note Sunday there was “minimal downside” from the “prospective benefits.”