Tag Archives: IGT

IGT restructures credit facilities to counter COVID-19 headwinds

New York-listed International Game Technology Plc (IGT) has moved to amend its revolving credit facilities agreement and further terms on its loan facility arrangement, helping the firm navigate ongoing COVID-19 headwinds. The amendments modify the agreements in a number of ways. Firstly, the requirement to maintain a maximum ratio of total net debt to EBITDA and a minimum ratio of EBITDA …

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Scientific Games appoints Rich Schneider as group product strategy lead

Nasdaq gambling technology supplier Scientific Games Corporation (SGC) has confirmed the appointment of Rich Schneider as Group Chief Product Officer (CPO). A key new hire for SGC, Schneider has joined the executive team from Australia ASX competitor Aristocrat, where he served as CPO leading creative studios, hardware and product development. Updating investors, SGC governance details that it has secured an ‘industry …

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SBC Magazine Issue 8: International expansion and picking up the sporting slack

Magazine

A focus on international expansion and how we, as the betting and gaming industry, will get through COVID-19 are the key themes throughout Issue 8 of SBC Magazine. Now available to view HERE, it starts by tracking the journey of Giovanni Garrisi from a mathematician beating the pools to starting a 50/50 JV with Stanley Leisure, seizing an opportunity to …

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IGT appoints emerging markets expert Beatrice Bassey as a corporate advisor

New York-listed gambling technology and lottery systems supplier IGT Plc has moved to strengthen its corporate governance and general counsel by confirming the appointment of Beatrice H. Bassey as an independent advisor. The strategic appointment of Bassey will see the executive counsel IGT governance on group legal oversight and support the firm’s executive leadership team on ongoing compliance directives related to …

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IGT names Max Chiara as inbound Group CFO

IGT has concluded its four-month executive search after confirming the appointment of  Massimiliano ‘Max’ Chiara as its new Group Chief Financial Officer (CFO), effective from 6 April 2020. Max Chiara will replace long-term CFO Alberto Fornaro, who ended his nine-year tenure leading IGT’s financial units last December, joining South Korean e-commerce retailer Coupang Group.  Updating investors, IGT has stated that …

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Conajzar Paraguay sanctions national lottery tender

José Antonio Ortiz Báez, President of Conajzar Paraguay’s ‘National Gambling Commission’, has disclosed that four companies are vying to become the new operating company of the ‘Paraguay Quiniela’ (National Lottery). Ortiz Báez disclosed that tender competition documents had been accepted by national competitors Paraguay TDP, Consorcio B Gaming and Daruma SA, joined by ‘IGT Foreign Holdings’ as the only international …

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IGT appoints ‘trusted hand’ Fabio Celadon as M&A lead

The governance of New York listed gambling technology group IGT Plc has confirmed the promotion of Fabio Celadon to the position of Executive Vice President of Strategy and Corporate Development. An IGT executive since 2006, Celadon takes charge of IGT corporate development strategy having formerly served as Senior Vice President of Gaming Portfolio (2017-2019). Celadon’s executive tenure at IGT has also …

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IGT seeks new financial lead as Alberto Fornaro ends CFO tenure

New York-listed gambling technology group International Game Technology Plc (IGT) has confirmed that senior executive Alberto Fornaro has chosen to end his tenure as Chief Financial Officer (CFO). Fornaro will leave the management team on 31 January 2020 to ensure a smooth corporate transition. IGT’s board of directors has unanimously approved the appointment of Timothy Rishton, current Senior VP and Chief …

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Brazil finance ministry allows CAIXA to increase lottery ticket prices

Issuing a statement, SECAP – the planning department of Brazil’s Finance & Economic Ministry – has confirmed that it will allow national bank CAIXA to increase prices across its lottery products offering. Beginning 2020, CAIXA will be allowed to increase its ticket prices on its eight lottery products by an average of 28%. The update sees CAIXA implement its first ticket …

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IWG lands three-year instant win deal for Loterie Nationale

IWG

Instant Win Gaming (IWG) will drive the next phase of online lottery growth in Belgium through an extension of its partnership with International Game Technology (IGT). Loterie Nationale, the country’s National Lottery, has handed IWG a three-year contract to deliver its instant win content following a competitive procurement process. The supplier will, therefore, be integrating its own Progressive Play Remote …

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