Tag Archives: IGT

BOSE: Italian leadership optimistic of 2022 reform prospects

Italy’s gambling incumbents have navigated another turbulent year, not just due to COVID-19 induced closures of retail outlets but also due to increased attention from the legislative and regulatory fields.  Discussing Italian gambling developments and prospects at the Betting on Sports Europe (BOSE) event, Marco Castaldo, CEO of Microgame, Carmelo Mazza, CEO of OIA Services, Stefano Sbordoni, Managing Partner and …

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$200m Q3 savings leads IGT to raise 2021 forecasts

IGT sheds Italian weight offloading Lottomatica B2C units to Gamenet SPA

IGT Plc has raised its full-year corporate forecasts in light of peak performance results achieved during Q3 trading. IGT more than doubled its operating income to $212 million (Q32020: $83m) as the NYSE gambling technology group registered +$200 million in from its ‘OPTIMA – structural cost-savings program‘. Period trading saw IGT register group revenues of $984 million, up 21% on …

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IGT to upgrade FDJ’s lottery management system

IGT Plc has secured a major technology agreement to upgrade the central lottery system of La Française des Jeux (FDJ) – France’s national lottery operator.  The NYSE technology group disclosed that it had won a seven-year agreement to modernise FDJ’s group-wide lottery management system, which will be upgraded to its advanced Aurora platform. IGT has maintained a technology partnership with …

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IGT appoints Joe Asher as President of reformed sports betting unit

IGT Plc has confirmed the appointment of former William Hill US CEO Joe Asher as President of its sports betting division, under the firm’s new Digital-&-Betting unit. Effective from 1 October, Asher will report to Enrico Drago, IGT CEO of Digital-&-Betting, and will spearhead the ongoing expansion of the IGT PlaySports sportsbook business in North American markets. “The PlaySports sports …

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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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SBC Leaders: Pushing crypto boundaries and opportunities in the US

“If you don’t stop, or if you stand still, you’ll be left behind.” This was one of the warnings from Coingaming Group’s CEO Maarja Pärt as she explained how the company is pushing boundaries within the technology, crypto and investment spaces.  This exclusive interview with Pärt kickstarts the third edition of SBC Leaders for 2021, where she touches upon her …

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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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