Tag Archives: marco Sala

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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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 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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IGT sheds Italian weight by offloading Lottomatica B2C units to Gamenet SPA

IGT sheds Italian weight offloading Lottomatica B2C units to Gamenet SPA

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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IGT ‘prudent on recovery’ as company absorbs H1 losses of $291m

IGT sheds Italian weight offloading Lottomatica B2C units to Gamenet SPA

International Game Technology (IGT) cited the ‘intense impact’ of casino and gaming hall closures on its business, as the New York-listed gambling technology group recorded H1 2020 operating losses of $291 million. Absorbing Q2 double-digit declines across its core business segments of lotteries, International, North America and Italy, IGT recorded a 48% decline in revenues, falling from $1.23 billion in …

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IGT sanctions capped $300m senior debt note sale

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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IGT records dire 2020 opening as COVID-19 impacts all primary revenues  

IGT sheds Italian weight offloading Lottomatica B2C units to Gamenet SPA

IGT Plc has declared a tough opening to 2020 trading, reporting that COVID-19 restrictions have impacted ‘all business segments operating all primary revenue streams’.  Dire Q1 2020 metrics saw the firm record an 18% decline in group revenues to $940 million (Q12019: $1.14bn)  As a consequence of Mid-march lockdown orders the New York-listed technology group abruptly lost its revenue streams …

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