Tag Archives: IGT

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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Svenska Spel delivers major venue upgrade by going cashless with IGTPay 

Svenska Spel has ushered in a ‘new era of gaming’ by announcing that it has deployed IGT’s ‘IGTPay’ cashless payment provisions across its venues.  Sweden’s gambling monopoly has amplified its venue payments capacity, having recently upgraded its VLT operating platform to IGT’s ‘INTELLIGEN’ and Quasar systems. The upgrade enables Svenska Spel customers to have the option to transact safely and …

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

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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IGT moves to restructure board responsibilities

The board of IGT Plc has moved to strengthen its corporate governance structures, confirming three separate committee appointments that will be sanctioned following the firm’s annual general meeting (AGM). The New York-listed gambling technology group confirmed that Professor Alberto Dessy, a company independent director since 2015, will take a seat on the firm’s Audit Committee. The appointment sees Dessy ,a …

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IGT restructures credit facilities to counter COVID-19 headwinds

New York-listed International Game Technology Plc (IGT) has moved to amend its revolving credit facilities agreement and further terms on its loan facility arrangement, helping the firm navigate ongoing COVID-19 headwinds. The amendments modify the agreements in a number of ways. Firstly, the requirement to maintain a maximum ratio of total net debt to EBITDA and a minimum ratio of EBITDA …

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Scientific Games appoints Rich Schneider as group product strategy lead

Nasdaq gambling technology supplier Scientific Games Corporation (SGC) has confirmed the appointment of Rich Schneider as Group Chief Product Officer (CPO). A key new hire for SGC, Schneider has joined the executive team from Australia ASX competitor Aristocrat, where he served as CPO leading creative studios, hardware and product development. Updating investors, SGC governance details that it has secured an ‘industry …

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SBC Magazine Issue 8: International expansion and picking up the sporting slack

Magazine

A focus on international expansion and how we, as the betting and gaming industry, will get through COVID-19 are the key themes throughout Issue 8 of SBC Magazine. Now available to view HERE, it starts by tracking the journey of Giovanni Garrisi from a mathematician beating the pools to starting a 50/50 JV with Stanley Leisure, seizing an opportunity to …

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IGT appoints emerging markets expert Beatrice Bassey as a corporate advisor

New York-listed gambling technology and lottery systems supplier IGT Plc has moved to strengthen its corporate governance and general counsel by confirming the appointment of Beatrice H. Bassey as an independent advisor. The strategic appointment of Bassey will see the executive counsel IGT governance on group legal oversight and support the firm’s executive leadership team on ongoing compliance directives related to …

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IGT names Max Chiara as inbound Group CFO

IGT has concluded its four-month executive search after confirming the appointment of  Massimiliano ‘Max’ Chiara as its new Group Chief Financial Officer (CFO), effective from 6 April 2020. Max Chiara will replace long-term CFO Alberto Fornaro, who ended his nine-year tenure leading IGT’s financial units last December, joining South Korean e-commerce retailer Coupang Group.  Updating investors, IGT has stated that …

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Conajzar Paraguay sanctions national lottery tender

José Antonio Ortiz Báez, President of Conajzar Paraguay’s ‘National Gambling Commission’, has disclosed that four companies are vying to become the new operating company of the ‘Paraguay Quiniela’ (National Lottery). Ortiz Báez disclosed that tender competition documents had been accepted by national competitors Paraguay TDP, Consorcio B Gaming and Daruma SA, joined by ‘IGT Foreign Holdings’ as the only international …

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