Light & Wonder Says CFO James to Depart, Reaffirms 2025 EBITDA Target

Light & Wonder (NASDAQ: LNW) proclaimed that CFO Connie St. James is leaving the companion on Aug. 25 to follow a role out of doors the gaming industry.

The gaming device maker said Senior Vice President of Corporate Finance Oilver Chow will serve well as meanwhile chief financial officer and that it’s meshed a national executive look steadfast to regain a lasting replacement for James. She also served as executive director vice president, corporate writing table and Treasurer.

Connie has played a Florida key role inwards forward-moving Light & Wonder’s ethnic and financial transformation, which has led to in operation(p) excellence, double-digit ontogenesis and a strengthened equipoise sheet,” said CEO Matt Angus Frank Johnstone Wilson inwards a statement.

James was component of the executive director squad that oversaw the divestment of Light & Wonder’s drawing and sports betting units — transactions that raised well-nigh $7 billion inward cash, impulsive leveraged to 3.1x from 10.5x. She joined Light & Wonder, and then Scientific Games, inwards Jan 2020 as CFO of the gaming air division before ascending to the pinch financial blot in October 2021.

Light & Wonder CFO Role inward Good Hands

While the seek is on for a lasting occupant of the chief financial ship's officer spot, it’s inwards unspoilt custody for the time beingness with Chow.

“Following Ms. James’ departure, Joseph Oliver Chow, the company’s current Senior Vice President of Corporate Finance, testament arrogate the role of Interim CFO until a lasting replacement is appointed,” wrote Macquarie psychoanalyst Tchad Beynon in a take down to clients. “Prior to joining Light & Wonder inwards October 2022, Mr. Chow spent cinque years inwards senior-level finance roles at Aristocrat, most recently serving as Chief Financial Officer – Americas, EMEA and Customer Experience. Previously, he served inwards various financial roles with Universal Pictures, Deluxe Entertainment Services and JPMorgan Salmon P. Chase & Co.”

He rates Light & Wonder “outperform” with a 12-month cost target area of $72. That implies upside of 4.3% from the July 3 close. That’s in a higher place the consensus damage calculate of $68.

Shares of Light & Wonder were of late added to the widely followed Henry Kenneth Alfred Russell 2000 Growth Index and the accompany gained commendation from the Australia Securities Exchange (ASX) for a secondary listing inwards Sydney.

Light & Wonder Reiterates 2025 Earnings Before Interest Taxes Depreciation and Amortization Outlook

In conjunction with announcing the going of James, the expansion slot simple machine manufacturer reiterated steering it divulged at its investor 24-hour interval shoemaker's last month, noting it remains on step to nick adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $1.4 1000000000 past 2025.

Nine analysts spread over the buy in with cinque rating it the combining weight of a “strong buy” and triad calling it a “hold.” The shares are up 16.40% year-to-date.

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