Tag Archives: IGT

IGT Plc has settled ‘in principle’ its multi-million-dollar lawsuit filed by ‘Benson Matters’ made against its former DoubleDown subsidiary.  This morning, the NYSE gambling technology group announced that it had agreed to contribute a $269m payment of a wider settlement of $415m that will end legal proceedings that have been ongoing since 2018. Acquired in 2012 for $500m, DoubleDown is …

This summer’s publishing of the long-awaited ‘All-Index 2020/2021 Report’ by diversity, inclusion and equality non-profit All-in Diversity Project (AiDP) has provided a candid reflection on global gambling’s workforce make-up.   Whilst the 2020/2021 Index showcased improvements in female leadership representation, gambling firms were reported to lag in developing inclusivity practices. Following up on research insights, AiDP founding partners Kelly Kehn and Christina …

IGT Plc remains confident of achieving its 2022 financial objectives, but has ‘tightened its full-year revenue outlook’ to reflect currency fluctuations and the impact of its ongoing business transformation.  Publishing its consolidated Q2 2022 results, IGT registered a 2% decline in period corporate revenues to $1.02bn.   The weakened headline performance was attributed to an 11% sales decline of IGT’s Global …

The UK Gambling Commission (UKGC) has had its ‘enabling agreement’ reversed by the Court of Appeal – a decision that will severely impact the transfer of National Lottery duties and technical arrangements to Allwyn UK On 29 June, the High Court of England and Wales granted an enabling agreement to the Commission, which allowed the regulator to transfer National Lottery …

The board of IGT Plc has notified investors that the NYSE gambling technology group has completed its acquisition of iSoftBet in a cash deal worth €160m.  Last April, IGT entered definitive terms to acquire Malta-based, games developer and online casino solutions provider iSoftBet – deemed as an essential transaction to bolster IGT’s interactive unit. Of significance, the acquisition of iSoftBet …

The SBC Awards North America 2022 will see the biggest brands in sports betting and gaming compete for the top prizes, with BetMGM, Caesars, DraftKings, FanDuel, Penn Interactive, PointsBet, and Rush Street Interactive all making the shortlists announced today. The winners of the 27 operator, supplier, and affiliate categories will be announced in front of an audience of 600 senior …

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, …

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% …

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 …

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 …