IGT completes US$165mln acquisition of iSoftBet

Jul 05, 2022 Newsdesk Industry Talk, Latest News  

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Casino equipment maker and digital gaming content provider International Game Technology Plc (IGT) says it has completed a process to acquire iSoftBet for approximately EUR160 million (US$164.6 million, at current exchange rates) in cash. iSoftBet is an online and mobile casino games supplier, and third-party game aggregator.

The company said in a Tuesday press release, that 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 deal was announced in April. At the time, Vince Sadusky, IGT’s chief executive, said the acquisition of iSoftBet would provide “market-tested proprietary digital content, advanced game aggregation capabilities, scalable promotional tools, analytics and strong creative talent to IGT’s PlayDigital operations.”

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.

The company’s net debt position stood at just above US$5.83-billion as at March 31, down from US$7.07-billion a year earlier. It was down from the US$5.92-billion net debt recorded at the end of December.

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