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

UN-Sanctioned Arms Trader Allowed to Gamble $6 million at Crown Resorts

UN-sanctioned arns trader at Crown Resorts

Scandal-prone Australian casino operator Crown Resorts is facing another scandal. They have been found to let a UN-sanctioned arms trader gamble away US$6 million at two of their venues in Perth and Melbourne. In a news report by Australia’s ABC News, they reported that the two Crown Resorts venues let Indonesian businessman and arms trader […]

Is Café Casino Rigged?

Café Casino Rigged

More times than often, we get asked, “is Café casino rigged.” A simple answer to that question is No; Café casino is not rigged. The gambling site launched in 2016, and it is one of the most trusted casinos online. We can understand what the hesitation is when it comes to trusting virtual casinos. Not […]

Sweeten Your Play with LadyLuck Casino’s February Free Spins Offer!

enjoy the february free spins promotion at ladyluck casino

February is here, and LadyLuck.Casino is turning up the heat with their thrilling February Free Spins promotion. Love slots? Then gear up for a delightful promotion at this amazing US-friendly gaming platform! This is your golden ticket to an exhilarating gaming experience. Throughout the month, they’re showering players with free spins on the popular Sweet […]

Spin & Win with Buzzluck Casino Thursday’s Daily Promotion

enjoy thursday's daily promotion at buzzluck casino

Gear up for Buzzluck Online Casino’s electrifying Thursday’s Daily Promotion! US players will embark on a treasure hunt with spinning reels, free spins, and bonus riches. This exclusive offer offers a potent blend of 65% slot bonus and 25 free spins on the legendary Cleopatra’s Gold online slot. Moreover, you get an extra 5% boost […]

Last Updated :
Index