GGRAsia – IGT creates new digital and betting segment

IGT creates new digital and betting segment

Sep 09, 2021 Newsdesk iGaming, Latest News, Top of the deck

Gaming and lottery provider International Game Technology Plc (IGT) has established a dedicated digital and betting business segment, comprising its iGaming and sports betting activities that were previously part of the global gaming segment.

The IGT business will now operate as three segments, with the new digital and betting arm running alongside its global lottery and global gaming divisions, according to a Wednesday press release. The company’s iLottery business will remain part of the global lottery segment.

The company also announced that Enrico Drago will serve as chief executive for the digital and betting segment, reporting to the group’s CEO, Marco Sala.

Mr Drago previously had oversight of IGT’s iGaming, iLottery and sports betting businesses, as senior vice president of IGT PlayDigital.

Wednesday’s statement quoted IGT’s CEO Mr Sala as saying: “IGT has established strong leadership positions and driven dynamic growth across its iGaming and sports betting businesses. With significant growth expected to continue, we have decided to establish a dedicated digital and betting business segment.”

“These businesses have become strategically important to IGT as they afford us the opportunity to leverage the global reach and strong customer relationships of our global gaming segment,” stated Mr Sala.

He added: “The new structure gives us more flexibility in our product and solutions portfolio,” and would highlight the “intrinsic value of these activities”.

IGT reported in August second-quarter revenue of just above US$1.04 billion, up 2.6 percent from the previous quarter, and an increase of 73.5 percent from a year earlier. The company said at the time that a “strong increase in digital and betting activities” had contributed to a “substantial growth” in revenue and profit for the three months to June 30.