Wilson will continue his current role, while Barry Cottle has stepped down as President and CEO and a member of the company’s board of directors, and will support a “seamless transition as a consultant.”

Light & Wonder Executive Chair Jamie Odell commented: “As we enter the next chapter of our growth journey as the leading cross-platform global game company, we are confident that now is the right time to make this leadership transition.

“Our Executive Vice Chair, Toni Korsanos, and I have worked closely with Matt for over 10 years, including most recently as he has successfully worked to turn around and reposition Light & Wonder’s Gaming business for long-term growth. We are confident that his strategic insights, deep industry knowledge, rich experience and impressive track record make him the ideal person to serve as interim CEO during this transition period.”

The company’s board has now commenced the search process to identify a permanent CEO, engaging a leading national executive search firm. The group noted that the search builds on the board’s well-established succession planning process and will include both internal and external candidates.

Wilson commented: “I am honoured to take on the role of interim CEO during this exciting time for our company.

“With a streamlined organisation, sharpened strategic focus and strengthened balance sheet, we are now better positioned than ever to capitalise on the incredible opportunities ahead for the business. I look forward to working closely with the rest of the leadership team in this new capacity as we continue to accelerate our progress as a sustainable growth company.”