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 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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International Game Technology (IGT) was one of the big winners at an online awards show hosted by igaming affiliate Infinileads SL, which was put on to recognise the most popular slot developers and slot titles across the company’s SlotJava brands in 2020. The prizes were determined by the total number of free plays across more than 1,700 slots from over …
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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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Online sportsbook and iGaming supplier FSB has welcomed Ian Freeman to its senior management team as its new Chief Revenue Officer. As Chief Revenue Officer he will report directly to CEO Dave McDowell at the firm’s London office, and will be responsible for developing its sales and business development teams as well as creating and deploying business critical strategies. FSB …
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Italian gambling has woken up to a seismic M&A deal after it was confirmed that IGT Plc had agreed to sell its Lottomatica B2C gaming and sports betting units to Gamenet SPA in a transaction valued at €950 million. After revealing that it will divest its Lottomatica ‘Scommesse‘ (sports betting) and ‘Videolot Rete‘ (B2C machines), IGT informed its stakeholders that …
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Regulus Partners examines further political roadblocks in Brazil’s pot-holed journey towards market regulation. Meanwhile, back in Blighty, industry observers will tune-in to the Gambling-related Harm All Party Parliamentary Group’s one-off session on Children and Gambling. Brazil: gambling regulation – waning The last couple of weeks have produced two significant twists in Brazil’s gambling legislative journey. The first was a Supreme …
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IGT Plc and Scientific Games Corporation (SGC) have published a joint statement confirming that they have withdrawn their consortium to operate Brazil’s exclusive LOTEX instant lottery concession. The lottery technology groups cited that they have been unable to form a ‘crucial distribution arrangement with CAIXA Federal’, Brazil’s state-owned bank and the incumbent retail distributor of lottery products across the country. …
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Jason Ader has stated that his company SpringOwl, an ‘independent sponsor and buyout firm’, is tracking all developments of a disrupted global gambling landscape as ‘the pandemic has opened the market’. Speaking to SBC, Ader stated that he is neither undeterred by talk of ‘doom-and-gloom’ nor swayed by easy rhetoric related to ‘business accelerations’. Instead, Ader recognises that global gambling …
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IGT Group has sanctioned a ‘tender offer’ to ‘purchase for cash’ an aggregate sum of $300 million, representing 6.25% of its corporate senior secured debt notes, due for repayment in 2022. The New York-listed gambling technology and lottery systems supplier has undertaken its debt sale subject to terms and conditions set forth in its ‘offer to purchase’ summary published on …
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