Apr 12, 2022 Newsdesk Industry Talk, Latest News  
Casino equipment maker and digital gaming content provider International Game Technology Plc (IGT) says it has an agreement to acquire iSoftBet for approximately EUR160 million (US$174 million) in cash. iSoftBet is an online and mobile casino games supplier, and third-party game aggregator.
The acquisition is expected to be completed during the second quarter this year, subject to the satisfaction of customary closing conditions, said IGT in a Monday press release.
The company said the acquisition would “more than double” the content library of IGT PlayDigital, “to approximately 225 proprietary games”. It would also provide “a world-class, proprietary game aggregation platform to distribute third-party games, and leading data-driven promotional and user-engagement tools,” it added.
The release quoted Vince Sadusky, IGT’s chief executive, as saying: “The acquisition of iSoftBet will provide market-tested proprietary digital content, advanced game aggregation capabilities, scalable promotional tools, analytics and strong creative talent to IGT’s PlayDigital operations.”
He added: “This will enhance PlayDigital’s competitive capabilities with a proven, complementary content portfolio across Europe and North America as we provide best-in-class games and technology to our fast-growing igaming customers.”
In November, IGT said a separate public listing of the group’s digital and betting business was “under evaluation”, as part of a strategic review for future growth.
IGT reduced its net debt by US$1.4 billion, to just above US$5.92 billion as of December 31, 2021. The firm said its leverage improved to 3.5 times, “the lowest level in company history, achieving the 2022 leverage target a year early.”
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