Tag Archives: marco Sala

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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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 ‘prudent on recovery’ as company absorbs H1 losses of $291m

IGT sheds Italian weight offloading Lottomatica B2C units to Gamenet SPA

International Game Technology (IGT) cited the ‘intense impact’ of casino and gaming hall closures on its business, as the New York-listed gambling technology group recorded H1 2020 operating losses of $291 million. Absorbing Q2 double-digit declines across its core business segments of lotteries, International, North America and Italy, IGT recorded a 48% decline in revenues, falling from $1.23 billion in …

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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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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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IGT appoints ‘trusted hand’ Fabio Celadon as M&A lead

The governance of New York listed gambling technology group IGT Plc has confirmed the promotion of Fabio Celadon to the position of Executive Vice President of Strategy and Corporate Development. An IGT executive since 2006, Celadon takes charge of IGT corporate development strategy having formerly served as Senior Vice President of Gaming Portfolio (2017-2019). Celadon’s executive tenure at IGT has also …

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IGT seeks new financial lead as Alberto Fornaro ends CFO tenure

New York-listed gambling technology group International Game Technology Plc (IGT) has confirmed that senior executive Alberto Fornaro has chosen to end his tenure as Chief Financial Officer (CFO). Fornaro will leave the management team on 31 January 2020 to ensure a smooth corporate transition. IGT’s board of directors has unanimously approved the appointment of Timothy Rishton, current Senior VP and Chief …

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IGT sanctions new €500 million senior debt note

Issuing a market filing, the governance of New York-listed International Game Technology Plc (IGT Plc) has confirmed that it will pursue a private €500 million senior unsecured note transaction. Updating investors, IGT governance confirms that it has made an application for its notes to be officially sanctioned on the ‘Global Exchange Market’ of Ireland’s Euronext Dublin stock exchange. IGT’s new debt …

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