Tag Archives: new york

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 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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Mike Ciavarella: No Tweaking… A rebuilt Newgioco is the real deal for US Wagering

Newgioco Group Chairman and CEO Michele (Mike) Ciavarella has led an eight-year project to launch the Italian legacy outfit in the US, seeking to be the best-prepared technology incumbent tackling the world’s biggest and most diverse sports market. Speaking to SBC, Ciavarella details that technology stakeholders will face a rude awakening if they simply ‘copy-paste’ European strategies to US market …

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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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Winning Post: US regulation… Signs of Old World problems?

Industry strategic consultancy Regulus Partners begins the week by detailing three US states in which the realities of regulating sportsbooks and betting market dynamics have taken on a familiar narrative for industry stakeholders… _____________________________ Three completely unrelated issues in three different US states have caught our attention this week, issues which demonstrate that expansion can go hand-in-hand with potential backlash …

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Martin Lycka: Supreme Court’s (sports betting) punt return and beyond

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In the second of a series of columns on international gambling legislation, GVC’s Director of Regulatory Affairs Martin Lycka takes a look at the current activity around sports betting in the US and tracks how the industry has arrived there and where it should go next. It is 14 May 14 2018, which may be the US football offseason, yet …

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IGT appoints ‘security pro’ Dr Samantha Ravich as corporate advisor

New York-listed gambling technology group International Game Technology Plc (IGT) has moved to strengthen its corporate advisory confirming the appointment of Dr Samantha Ravich as an Independent Director. A scholar in national security development, political science and cybersecurity defence measures, Dr Ravich is the current Chair of the Center on Cyber and Technology Innovation at the ‘Foundation for Defense of Democracies’, …

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IGT reduces credit facility arrangement

New York-listed gambling technology group International Game Technology Plc (IGT) has amended and extended the terms of its multicurrency revolving credit loan facility. The group said it has extended the ‘maturity date’ of its corporate credit facility from 26 July, 2021 to 31 July, 2024. IGT’s multicurrency credit loan facility was originally sanctioned in July 2017. Moving to lower its ‘aggregate …

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