Tag Archives: IGT

Camelot claims National Lottery loss will render business obsolete

Camelot’s case in the High Court continued this week, with the National Lottery operator maintaining its protests about the future direction of the contract.  A representative for the company reportedly informed the High Court that it would ‘cease to exist’ should the next ten-year licence for the National Lottery be awarded to Czech firm Allwyn.  Following a lengthy licence tender, …

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IGT Q1 growth stalled by global lottery pains

IGT Plc has reported financial results for the first quarter ended March 31, 2022, showing overall revenue slightly ahead despite a drop in operating income during the trading period. According to the headline figures, consolidated revenue came in at $1.1bn, up 4% as reported and 7% at constant currency, from $1bn in the prior year. Global Gaming revenue increased 42% …

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Games Global completes ‘bold entrance’ with Microgaming acquisition

Newly established European gaming industry player Games Global has finalised its acquisition of several Microgaming assets, as the provider goes live to make its market debut.  Although financial terms of the agreement have not been fully disclosed by either party, it has been confirmed that Games Global has been granted regulatory approval for the purchase of Microgaming’s distribution business and …

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IGT expands online casino suite executing €160m takeover of iSoftBet

IGT Plc has moved to expand its B2B online casino offering, by securing definitive terms to acquire Malta-based online casino solutions provider iSoftBet.  This afternoon, the board of IGT notified investors that it has agreed on a €160 million cash deal to acquire iSoftBet – undertaking an acquisition that will “more than double the IGT PlayDigital content library to approximately …

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Charles Cohen: DoTrust signals warning on affordability crisis & player trust

Industry leadership has been warned that UK gambling faces an ‘affordability crisis’ as the rising cost of living causes active customers to reduce their spending.   The warning has been delivered by new affordability solutions provider Department of Trust (DoTrust), which in March appointed YouGov to conduct a poll on gambling affordability in light of a drastically changing economic backdrop. Conducting …

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IGT to support Singapore Pools with multiple lottery solutions

International Game Technology (IGT) has secured an agreement contract with the Singapore Pools via its IGT Global Services subsidiary, providing its lottery solutions.  The six-year contract will see IGT leverage its central lottery system Aurora and associated technologies to work towards boosting the lottery innovation and profitability of the Singapore Pools.  In addition, IGT and Singapore Pools also aim to …

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Vincent Sadusky: New look IGT to be global gambling’s most profitable tech player

IGT Plc will approach 2022 trading with a three-pronged strategy of “grow, innovate, and optimise”, according to the company’s CEO Vincent Sadusky. Issuing a statement in the NYSE-registered gambling technology group’s full-year results for 2021, Sadusky explained that IGT had experienced an “accelerated recovery” over the past 12 months.  The firm recorded total revenue for the full year of $4 …

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IGT nets $950m profits as unit transformations bear fruit

IGT Plc has underlined the group-wide strategic progress achieved by its corporate transformation programme, as all business units surpass trading expectations.  Posting its full-year 2021 results, the NYSE gambling technology group registered corporate revenues of $4.1 billion, up 31% on corresponding FY2020 results of $3.1 billion. The firm’s Global Lottery unit achieved a 29% increase in revenues to $2.8 billion …

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PostePay to purchase IGT’s Italian commercial payment business for €700m

IGT has announced the sale of its Italian proximity payment business from its IGT Lottery subsidiary to PostePay for a total consideration of €700 million.  NYSE-registered IGT will directly sell LIS Holding and indirectly sell LISPAY, the two wholly-owned subsidiaries that constitute and provide its payments operations, which has established a prominent place in Italy. The sale price consists of …

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Patrick Nordwall becomes inaugural CEO of ParlayBay

Sports betting start-up ParlayBay has strengthened its senior leadership team, appointing Patrick Nordwall as its debut CEO. Launched in September of last year, ParlayBay has detailed a mission to ‘transform the sports betting market’ through the provision of ‘game-changing experiences’ for players, seeking to develop a player-centric experience beyond gamification through its sports betting games.  In pursuit of this objective, …

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