• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

IGT completes US$1.2bln sale of Italian B2C gaming biz

May 11, 2021 Newsdesk Industry Talk, Latest News  


IGT completes US$1.2bln sale of Italian B2C gaming biz

Casino game supplier and lottery services firm International Game Technology Plc says it completed on Monday the EUR950-million (US$1.15-billion) sale of a consumer-facing Italian gaming business.

The company said its unit IGT Lottery SpA completed the sale of 100-percent of the share capital of Lottomatica Videolot Rete SpA and Lottomatica Scommesse Srl, the entities running the group’s business-to-consumer (B2C) gaming machine, sports betting, and digital gaming businesses in Italy.

The buyer is Gamenet Group SpA, identified as a subsidiary of funds managed by an affiliate of private equity firm Apollo Global Management Inc.

According to the deal, EUR725 million was payable at closing of the deal; with a further EUR100 million on December 31, 2021; and the remaining EUR125 million payable on September 30, 2022.

IGT will use the funds received at closing, “net of approximately EUR94 million, to pay transaction expenses and reduce debt,” the parent company said in a Tuesday press release.

Brokerage Union Gaming Securities LLC said in a December note – when the deal was announced – that the sale would help in “accelerating debt reduction efforts” for IGT.

IGT was carrying more than US$7 billion in debt as of December 31, 2020, according to its annual results.

In March, IGT reported a net loss attributable to shareholders of just under US$242.0 million for the fourth quarter of 2020. The company said the net loss for the reporting period included US$155.0 million in foreign exchange losses, primarily non-cash.

The casino supplier announced also that month, the redemption of the group’s 6.250-percent senior secured notes due 2022, including the completion of the sale of US$750-million in 4.125-percent senior notes due 2026.


  • tweet
Related articles
  • IGT and Novomatic’s Greentube in patent licensing deal
    IGT and Novomatic’s Greentube in...

    Jan 19, 2023  

  • Gaming trade body AGEM elects new officers
    Gaming trade body AGEM elects new...

    Jan 13, 2023  

More news
  • Macau CNY mass GGR maybe 60pct plus of CNY 2019: JPM
    Macau CNY mass GGR maybe 60pct plus of...

    Jan 31, 2023  

  • Pagcor 2022 income up 66pct y-o-y, tops US$1bln
    Pagcor 2022 income up 66pct y-o-y, tops...

    Jan 31, 2023  


Latest News

Macau CNY mass GGR maybe 60pct plus of CNY 2019: JPM

Macau CNY mass GGR maybe 60pct plus of CNY 2019: JPM

Jan 31, 2023  

Macau mass-market casino gross gaming revenue (GGR) for the recent Chinese New Year (CNY) holidays could have recovered to at least 60 percent of that for the 2019 break, when the festivities were in...
Read More
Pagcor 2022 income up 66pct y-o-y, tops US$1bln

Pagcor 2022 income up 66pct y-o-y, tops US$1bln

Jan 31, 2023  

Junket boss Levo Chan heard okaying illicit bets: court

Junket boss Levo Chan heard okaying illicit bets: court

Jan 30, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$1.08 billion

Total income for 2022 reported by the Philippine Amusement and Gaming Corp



Most Popular

  • Available Macau casino tables busy at tail of CNY holsAvailable Macau casino tables busy at tail of CNY hols January 27, 2023
  • Almost half million visitors to Macau for 7 days of CNY holsAlmost half million visitors to Macau for 7 days of CNY hols January 30, 2023
  • Macau visitor momentum kept for post CNY weekendMacau visitor momentum kept for post CNY weekend January 30, 2023
  • Junket boss Levo Chan heard okaying illicit bets: courtJunket boss Levo Chan heard okaying illicit bets: court January 30, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us