Tag Archives: IGT

A draft proposal co-signed by Brazil President Lula da Silva and Finance Minister Fernando Haddad has recommended that  a 15% gross gaming revenue (GGR) tax be applied to sports betting activities.  News of the proposal submitted to the Attorney General’s National Treasury Office (PGFN) was reported during the Easter break by Brazilian business news source Poder360. As reported, Lula and …

IGT Plc states that it has achieved its full-year 2022 objectives of returning shareholder growth and reducing its long-term corporate net-debt. The group outlined that total revenue rose by 3% for the full year to $4.3bn (2021: $4bn), and by 4% year-on-year in the final quarter from $1bn to $1.1bn, with both figures driven heavily by Global Gaming and PlayDigital …

Betfred has received a further boost to its stateside operations, partnering with International Gaming Technology (IGT) to support its new Nevada operation. In a deal which also enhances IGT’s operations in sports betting, Betfred USA Sports will leverage the group’s PlaySports solutions for retail and mobile wagering at its Mohegan Sun Sportsbook venue.  Having been launched just last week after …

IGT Plc has been rewarded for augmenting its environmental contributions with a new ‘B’ score in climate change from Carbon Disclosure Project (CDP). The global environmental NPO has upgraded IGT’s score from last year to better reflect its improved environmental disclosure and performance. The new classification recognises the ‘coordinated actions’ taken by the global lottery and gaming firm on a …

Apollo Global is reported to be reviewing options on its Lottomatica investment, which may see the heritage Italian gambling group listed on the Borsa Milan.     Bloomberg and local media report that Apollo eyes a “return to Piazza Affari” for Lottomatica, in which it has called on investment banks to price up a €1bn IPO. A Milan listing would see Apollo …

The Swiss Société de la Loterie de la Suisse Romande (Loterie Romande) has extended its partnership with IGT for a further 10 years. IGT will continue to provide its ilottery services to Loterie Romande until 2031 under the terms of the renewal, deploying its back-end to replace its partner’s existing system, with the goal of enhancing the overall player experience …

IGT Plc is confident of delivering on its 2022 financial targets and operating objectives, despite a slowdown in the performance of its flagship Global Lottery unit.  Publishing its Q3 trading statement, the NYSE gambling technology group achieved consolidated revenues of $1.06bn, up 8% on 2021 comparative results of $984m. Headline growth was maintained by the group’s Global Gaming unit recording …

IGT Plc has disclosed that it has increased the cap on its tender offer to raise cash from its US and EU senior debt notes from $500m to $600m.  This September the NYSE technology group authorised a ‘purchase for cash’ transaction, aiming to raise $500m from its outstanding $1.1bn senior secured $ notes due for 2025 at a 6.5% interest …

IGT has completed the sale of its Italian proximity payment business to PostePay S.p.A, striving to maintain focus on its corporate restructure and debt reduction.  Finalised at €700m, the sale will see PostePay take control of the payments business from IGT’s IGT Lottery subsidiary. The price represents a negotiated sales price with an enterprise value of €630m, approximately €70m of …

IGT Plc has announced to markets that it has launched a new tender offer to ‘purchase for cash’ $500m of its outstanding $1.1bn senior secured $ notes due for 2025. Terms of the tender offer have been further applied to the NYSE technology group’s outstanding €uro debt notes of €500m due for 2024.    The tender offer was announced on 2 …