Tag Archives: Lottomatica

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 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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English speakers identified as most at-risk problem gambling group by Gambless

Gambless has recorded 3,500 self-assessment tests completed via its mobile app, revealing strong differences in problem gambling across international borders, with English speakers encountering issues much more than other linguistic groups. Publishing its first annual report, the Mindspa-funded and ORCHHA-certified international gambling harm prevention app found that English speakers, mainly from the US, UK, and Australia, recorded a 57% higher …

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Sisal files for Milan Borsa IPO seven years after first attempt

Sisal SPA, the operating company of Italy’s SuperEnalotto lottery and Matchpoint betting shops, has filed for an Initial Public Offering (IPO) to list its business on the Milan Borsa Exchange.  Reuters reports that the CVC Capital owned gambling group has agreed to sell its shares to an unnamed private equity firm.   Although most of the firm’s revenues come from its …

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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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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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