Tag Archives: IGT

IGT creates Digital and Betting division in corporate restructure

IGT has announced a commercial re-organisation, creating a Digital and Betting business segment out of the igaming and sports betting divisions formerly part of its Global Gaming department. The third quarter of 2021 will see the group operate the business segments of the firm, which include the newly created Digital & Betting, the aforementioned Global Gaming and Global Lottery, with …

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IGT backs its trimmed profile as gaming units return to profitability

IGT Plc has maintained confidence in its 2021 commercial strategy, having reported strong gains in Q2 as its gaming division ‘returns to profitability’. Reporting a yearly increase in revenue of 74% to $1 billion (2020: $600m), the group has also achieved net EBITDA of $442 million (2020: $164m) and operating income of $244 million, a major improvement on the operating …

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SBC Leaders: Pushing crypto boundaries and opportunities in the US

“If you don’t stop, or if you stand still, you’ll be left behind.” This was one of the warnings from Coingaming Group’s CEO Maarja Pärt as she explained how the company is pushing boundaries within the technology, crypto and investment spaces.  This exclusive interview with Pärt kickstarts the third edition of SBC Leaders for 2021, where she touches upon her …

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IGT records 25% Q1 revenue growth following B2C sale

International Game Technology (IGT) has reported revenue growth of 25% for Q1 2021, attributed to structural cost savings, continued player demand and the sale of its Italian B2C business to Gamenet Group. Overall group revenue rose to $1.01bn (2020: $814m). Although the figure still represents a 11.3% decrease from the $1.14 billion in 2019, the group remains hopeful that it …

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Gamenet takes control of Lottomatica’s identity as new Italian giant is born

A new era for Italian gambling has started after Gamenet Group completed its €1.1 billion buyout of IGT Plc’s Lottomatica B2C subsidiaries.  This morning, Gamenet and IGT disclosed that all final arrangements had been concluded in the sale of Lottomatica’s Scommesse (sports betting) and Videolot Rete gaming machine units. Finalising its acquisition, Gamenet has confirmed that it will now operate …

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IGT confirms Walter Bugno’s executive departure

IGT Plc has confirmed that long-term executive Walter Bugno has resigned from duties as the NYSE technology group’s Executive Vice President of New Business and Strategic Initiatives.  This morning, IGT notified investors that Bugno had chosen to end his 11-year tenure with the company to ‘pursue new professional opportunities‘ and will resign from all leadership duties on 14 May. A …

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IGT downsizes board following departure of Beatrice H Bassey  

IGT Plc has informed investors that Beatrice H Bassey has chosen to retire from all duties as an independent director of the NYSE gambling technology group.  The former General Counsel and Compliance Officer of emerging markets private equity fund Atlas Mara, Bassey had joined the IGT board in March 2020, a month prior to the escalation of the COVID-19 pandemic …

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IGT lottery growth wiped-out by COVID wrecked global gaming unit

IGT Plc states that it has achieved strategic progress on key corporate directives, assisting with the technology group’s performance recovery once stable trading re-emerges.  Publishing its full-year 2020 results, IGT has recorded corporate revenues of $3.1 billion, down 23% on corresponding FY2019’s results of $4 billion. Mirroring industry competitors, the NYSE-listed gambling technology group underlines significant COVID-19 headwinds impacting its …

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FanDuel makes Atlantic City sportsbook debut with Bally’s AC

Gaming company FanDuel Group has announced the launch of its Sportsbook at Bally’s Atlantic City Hotel and Casino, in cooperation with Bally’s Corporation. The launch is the first capital improvement project at the property after Bally’s completed the purchase in November, and although initially a temporary offering design and construction on a permanent venue is underway. New York-based FanDuel will …

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