Tag Archives: Lottomatica

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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IGT lottery growth wiped-out by COVID wrecked global gaming unit

IGT Plc states that it has achieved strategic progress on key corporate directives, assisting with the technology group’s performance recovery once stable trading re-emerges.  Publishing its full-year 2020 results, IGT has recorded corporate revenues of $3.1 billion, down 23% on corresponding FY2019’s results of $4 billion. Mirroring industry competitors, the NYSE-listed gambling technology group underlines significant COVID-19 headwinds impacting its …

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Betfair hit by poor judgement on Italian turnover tax

Betfair has been provided bleak options by Italy’s ADM customs and monopolies agency as to how it should calculate Italy’s temporary turnover tax on its ‘Exchange’ betting product. Last summer, the Italian government imposed a 0.5% turnover tax across all sports wagering verticals (retail, digital and virtual sports) – a year-long measure approved as part of Italy’s ‘Covid Revival Decree’. The decision …

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IGT sheds Italian weight by offloading Lottomatica B2C units to Gamenet SPA

IGT sheds Italian weight offloading Lottomatica B2C units to Gamenet SPA

Italian gambling has woken up to a seismic M&A deal after it was confirmed that IGT Plc had agreed to sell its Lottomatica B2C gaming and sports betting units to Gamenet SPA in a transaction valued at €950 million. After revealing that it will divest its Lottomatica ‘Scommesse‘ (sports betting) and ‘Videolot Rete‘ (B2C machines), IGT informed its stakeholders that …

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

IGT sheds Italian weight offloading Lottomatica B2C units to Gamenet SPA

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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AgiproNews Italian View – Retail lockdown sees betting face months of trauma

Complying with the Italian government’s ‘Public Health Decree’ sanctioned on Sunday 8 March, Italian gambling has officially gone into lockdown. The country at the centre of Europe’s COVID-19 pandemic has seen all retailers ordered to temporarily shut apart from food stores and pharmacies, as PM Giuseppe Conte enforces the toughest public stance minimising the spread of the virus and its …

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Highlight Games inks new partnership with Microgame S.p.A

London-based video virtual sports specialist Highlight Games has agreed to supply its virtual sports products to Microgame S.p.A after securing a new partnership with the Italian platform provider.  The agreement will see Highlight Games offer its Soccerbet product featuring Italian and English games in league and single match formats, as well as the NBA Last 60 across Microgame’s retail, online …

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GLMS reappoints Ludovici Calvi as President

Lottomatica’s Ludovici Calvi has been reappointed as the President of the Global Lottery Monitoring System (GLMS) at the association’s most recent AGM in Antwerp. Joining Calvi, a number of other members have been elected to the Executive Committee for the upcoming 2019-2021 term. Kauhanen Sami from Veikkaus OY has been appointed, alongside EL Mechrafi Younes from MDJS as well as …

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Lottomatica backs GVC’s revamped Italian bingo network

Updating the market, FTSE100 gambling group GVC Holdings has moved to revamp its Italian igaming services, launching its new ‘Bingo 3.0’ platform serving the firm’s B2C brands in Italy – as well as servicing a network of 27 B2B partners. For the launch of Bingo 3.0, GVC announces a further major Italian coup, with Italian national lottery operator Lottomatica joining …

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