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 prominent figurehead of IGT’s executive team, Bugno joined the company in 2010 as Chief Executive of ‘IGT International’ – the technology group’s new global gaming division formed from the multi-billion merger of GTECH and IGT legacy systems.  

Prior to his IGT appointment, Bugno had served as Chief Executive of Italian lottery unit Lottomatica’s gaming division.

Recognised as one of gambling’s highest profile executives, Bugno was the former Chief Executive of Tabcorp Casinos and founding Chairman of the A-League’s Sydney FC.

“I would like to thank Walter for his accomplishments over the course of more than 10 years of senior leadership at IGT. His efforts have made meaningful contributions to the strength of our global leadership,” said IGT CEO Marco Sala

“At every stage of his time with IGT, Walter successfully engaged teams across multiple regions, built significant customer relationships, fostered continued talent development and championed innovation throughout his organization. On behalf of everyone at IGT, I wish Walter well in his future endeavors.” 

Closing 2020 trading, IGT announced that it had reached an agreement to sell its B2C Lottomatica gaming and sports betting units to Gamenet SPA for €950 million – with the majority of proceeds used to reduce its long-term debt. 

IGT notified that following the downsize of its Lottomatica unit, the technology group would place move to increase focus its ‘core competency as a B2B service provider’.

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