Gaming and lottery services and products provider International Game Technology Plc (IGT) said on Monday that its board of directors had appointed Lorenzo Pellicioli as chairperson, effective immediately.
Mr Pellicioli was formerly IGT’s vice chairperson. He had been in an acting role as head of the board since the August departure of Phil Satre, who became vice chairman of U.S.-based casino operator Wynn Resorts Ltd. The latter is the parent of Macau casino operator Wynn Resorts Ltd.
IGT has also appointed James McCann as vice chairperson and lead independent director. Mr McCann has served on the firm’s board since 2015.
Commenting on his appointment, Mr. Pellicioli said, as quoted in a company press release: “I look forward to working with the directors and senior management to guide continued success.”
IGT’s consolidated revenue declined by 5.4 percent year-on-year to approximately US$1.16 billion in the third quarter of 2018, compared to US$1.22 billion in the prior-year period, the firm announced in late October. Net income attributable to IGT was nearly US$22.3 million in the July-September period, compared to a loss of approximately US$803.6 million in the prior-year period.
IGT said at the time that total gaming revenue from international markets – i.e. excluding North America and Italy – decreased by 23.4 percent year-on-year to US$98 million in the three months ended September 30, due to lower systems revenue. The firm did not provide detailed information about its performance in Asia for the period.
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George Choi and Ryan Cheung
Analysts at Citigroup