{"id":280011,"date":"2023-07-04T15:49:01","date_gmt":"2023-07-04T20:49:01","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=280011"},"modified":"2023-07-04T15:49:01","modified_gmt":"2023-07-04T20:49:01","slug":"light-wonder-cfo-james-leaving-2025-ebitda-still-on-track","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/light-wonder-cfo-james-leaving-2025-ebitda-still-on-track\/","title":{"rendered":"Light & Wonder Says CFO James to Depart, Reaffirms 2025 EBITDA Target"},"content":{"rendered":"

Light & Wonder (NASDAQ: LNW) announced that CFO Connie James is leaving the company on Aug. 25 to pursue a role outside the gaming industry.<\/p>\n

\"Light
Light & Wonder signage at a roulette table. The company announced the departure of CFO Connie James and reaffirmed 2025 EBITDA guidance. (Image: Twitter)<\/figcaption><\/figure>\n

The gaming device manufacturer said Senior Vice President of Corporate Finance Oilver Chow will serve as interim chief financial officer and that it\u2019s engaged a national executive search firm to find a permanent replacement for James. She also served as executive vice president, corporate secretary and Treasurer.<\/p>\n

Connie has played a key role in advancing Light & Wonder\u2019s cultural and financial transformation, which has led to operational excellence, double-digit growth and a strengthened balance sheet,\u201d said CEO Matt Wilson in a statement.<\/p><\/blockquote>\n

James was part of the executive team that oversaw the divestment of Light & Wonder\u2019s<\/a> lottery and sports betting units — transactions that raised about $7 billion in cash, driving leveraged to 3.1x from 10.5x. She joined Light & Wonder, then Scientific Games, in January 2020 as CFO of the gaming division before ascending to the top financial spot in October 2021<\/strong>.<\/p>\n

Light & Wonder CFO Role in Good Hands<\/h2>\n

While the search is on for a permanent occupant of the chief financial officer spot, it\u2019s in good hands for the time being with Chow.<\/p>\n

\u201cFollowing Ms. James’ departure, Oliver Chow, the company’s current Senior Vice President of Corporate Finance, will assume the role of Interim CFO until a permanent successor is appointed,\u201d wrote Macquarie analyst Chad Beynon in a note to clients. \u201cPrior to joining Light & Wonder in October 2022, Mr. Chow spent five years in senior-level finance roles at Aristocrat, most recently serving as Chief Financial Officer – Americas, EMEA and Customer Experience. Previously, he served in various financial roles with Universal Pictures, Deluxe Entertainment Services and JPMorgan Chase & Co.\u201d<\/p>\n

\n

He rates Light & Wonder \u201coutperform\u201d with a 12-month price target of $72. That implies upside of 4.3%<\/a> from the July 3 close. That\u2019s above the consensus price forecast of $68.<\/p>\n<\/div>\n

Shares of Light & Wonder were recently added to the widely followed Russell 2000 Growth Index and the company gained approval from the Australia Securities Exchange (ASX) for a secondary listing in Sydney.<\/p>\n

Light & Wonder Reiterates 2025 EBITDA Outlook<\/h2>\n

In conjunction with announcing the departure of James, the slot machine manufacturer reiterated guidance it divulged at its investor day last month, noting it remains on pace to notch adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $1.4 billion by 2025<\/a>.<\/p>\n

Nine analysts cover the stock with five rating it the equivalent of a \u201cstrong buy\u201d and three calling it a \u201chold.\u201d The shares are up 16.40% year-to-date.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Light & Wonder (NASDAQ: LNW) announced that CFO Connie James is leaving the company on Aug. 25 to pursue a role outside the gaming industry. The gaming device manufacturer said Senior Vice President of Corporate Finance Oilver Chow will serve as interim chief financial officer and that it\u2019s engaged a national executive search firm to […]<\/p>\n","protected":false},"author":46,"featured_media":246760,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,69293],"tags":[81903,81890],"acf":[],"yoast_head":"\nLight & Wonder CFO James Leaving, 2025 EBITDA Still On Track<\/title>\n<meta name=\"description\" content=\"Light & Wonder CFO James departing, company says 2025 EBITDA goal still on pace.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/light-wonder-cfo-james-leaving-2025-ebitda-still-on-track\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Light & Wonder CFO James Leaving, 2025 EBITDA Still On Track\" \/>\n<meta property=\"og:description\" content=\"Light & Wonder CFO James departing, company says 2025 EBITDA goal still on pace.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/light-wonder-cfo-james-leaving-2025-ebitda-still-on-track\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-04T20:49:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/lnw.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/light-wonder-cfo-james-leaving-2025-ebitda-still-on-track\/\",\"url\":\"https:\/\/www.casino.org\/news\/light-wonder-cfo-james-leaving-2025-ebitda-still-on-track\/\",\"name\":\"Light & Wonder CFO James Leaving, 2025 EBITDA Still On Track\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/light-wonder-cfo-james-leaving-2025-ebitda-still-on-track\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/light-wonder-cfo-james-leaving-2025-ebitda-still-on-track\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/lnw.jpg\",\"datePublished\":\"2023-07-04T20:49:01+00:00\",\"dateModified\":\"2023-07-04T20:49:01+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Light & Wonder CFO James departing, company says 2025 EBITDA goal still on pace.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/light-wonder-cfo-james-leaving-2025-ebitda-still-on-track\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/light-wonder-cfo-james-leaving-2025-ebitda-still-on-track\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/light-wonder-cfo-james-leaving-2025-ebitda-still-on-track\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/lnw.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/lnw.jpg\",\"width\":1920,\"height\":1080,\"caption\":\"Light & Wonder signage at a roulette table. 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