IGT to pay US$174mln for online gaming supplier iSoftBet

Apr 12, 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 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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