Skip to main content

IGT Initiates Strategic Review Amid Online Gambling Maturation

International Game Technology (IGT), one of the world’s leading providers of gaming products and services, announced on Monday that it has initiated a strategic review of its online gambling business. The company said that it is exploring a range of options, including a potential sale or spin-off of its online gambling segment, which includes its iGaming and sports betting platforms.

IGT declares strategic review for PlayDigital and Global Gaming

Evolving Landscape of the Online Gambling Market

The announcement comes as the online gambling market is undergoing significant changes, with increased competition, regulation, and consolidation. IGT said that it believes that its online gambling business has strong growth prospects and attractive financial performance, but that it may benefit from operating as a standalone entity or with a different partner.

Impressive Performance of IGT’s Online Gambling Segment

IGT’s online gambling business generated $370 million in revenue in 2022, representing 14% of the company’s total revenue and 25% of its adjusted EBITDA. The segment has been growing at a compound annual growth rate (CAGR) of 23% since 2019, driven by its presence in key regulated markets such as the US, Italy, and Sweden.

A Diverse and Innovative Portfolio

IGT’s online gambling portfolio includes some of the most popular and innovative games and platforms in the industry, such as PlayDigital, PlayCasino, PlayPoker, PlayBingo, PlayRGS, and PlaySports. The company also has strategic partnerships with leading operators such as FanDuel, BetMGM, Lottomatica, and Svenska Spel.

Expert Advisors Engaged for the Strategic Review

IGT said that it has engaged Morgan Stanley as its financial advisor and as its legal advisor, Skadden, Arps, Slate, Meagher & Flom LLP to assist with the strategic review process. The company added that there is no assurance that the review will result in any transaction or other outcome and that it does not intend to disclose any further developments unless and until a definitive decision is reached.

Related Posts

Is There a Trick to Online Slots?

Every player wants to game the system and ensure they win every time. There are no tricks to winning on slot machines that guarantee wins or ways to tell when a jackpot is going to hit. Players understand that slot machines are a game of luck. Minimal skills are needed to play the game and […]

How Do Gamblers Deal with Losing Money?

How do gamblers Deal with Losing Money

There are several healthy ways to deal with losing money gambling. Gamblers have to find a way to cope with not winning whenever they visit the casino. What helps players accept losses is when they don’t lose all of their money gambling. This is because they manage their bankroll effectively. If you lose your set […]

Which Slot Machines Pay the Best 2023

Which Slot Machines Pay the Best 2020

You can boost your chances of cracking the jackpot by playing slot machines that actually payout. There are thousands of slots online that you can pick from, but not all of them offer you the best chance to claim a big win. One of the most accurate ways to tell which slot machines pay the […]

Is Planet 7 Casino Safe?

is planet 7 casino safe

Yes, Planet 7 is a safe and secure casino site. If you search Planet 7 Casino, you might find that the gambling site has a mixed reputation. Some people say that this is a casino with a couple of issues, whereas others say nothing is wrong with this site. Whenever a casino doesn’t have a […]

Sporttrade Launches Its Online Platform in Colorado

Sporttrade is now going live in Colorado

Sporttrade, a sports betting exchange that allows users to trade bets like stocks, has launched its online platform in Colorado, its second state after New Jersey. The Philadelphia-based operator partnered with GF Gaming to enter the Colorado market, which has generated over $12 billion in sports betting handle since 2020. What is Sporttrade and how […]

Last Updated :