International Game Technology

Last updated

International Game Technology PLC
Company type Public limited company
Industry Gambling
Founded1990;34 years ago (1990)
Headquarters London, England (Headquarters)
Key people
 Vincent L. Sadusky (CEO)
Marco Sala (Chairman)
Products
RevenueDecrease2.svg US$3.115 billion (2020) [1]
Decrease2.svg US$-0.107 billion (2020) [1]
Decrease2.svg US$-0.838 billion (2020) [1]
Total assets Decrease2.svg US$12.992 billion (2020) [1]
Total equity Decrease2.svg US$1.561 billion (2020) [1]
Owner De Agostini (42%)
Number of employees
12,000 (2015) [2]
Website igt.com

International Game Technology PLC (IGT), formerly Gtech S.p.A. and Lottomatica S.p.A., is a multinational gambling company that produces slot machines and other gambling technology. The company is headquartered in London, with major offices in Rome, Providence, Rhode Island, and Las Vegas. It is controlled, with a 42 percent stake, by De Agostini. [3]

Contents

Italian gambling company Lottomatica acquired Gtech Corporation. The acquisition closed in August 2006 with Lottomatica later changing its own name to Gtech. The combined company spanned across different verticals including lotteries and digital gaming.

In 2015, the company acquired American gambling company International Game Technology and again adopted the acquired company's name as its own.[ citation needed ]

Current holdings

In July 2014, Gtech agreed to acquire American company International Game Technology (IGT), the world's largest slot machine manufacturer, for a total of $6.4 billion, including $4.7 billion in cash and $1.7 billion in assumed debt. The companies combined under a new holding company based in the United Kingdom, and the Gtech name was dropped in favor of IGT. [4] [5]

In April 2015, Gtech completed its merger with IGT. The new combined company's name is International Game Technology PLC. [6]

In April 2017, IGT announced an agreement to sell its subsidiary Double Down Interactive LLC To DoubleU Games as a means to establish a partnership in the social casino market. [7] [8]

In February 2022, IGT announced their expansion into Washington state via a multi-year deal with Kalispel tribe. [9]

In March 2022, International Gaming Technology's subsidiary IGT global services announced their 6-year partnership agreement with Singapore Pools Limited. [10]

In April 2022, International Games Technology announced their deal to acquire igaming content provider iSoftBet for approximately €160 million. [11]

In February 2024 the company announced it would spinoff its non-lotto businesses tax-free, and then immediately merge the new entity with Everi. Apollo Global Management, later that year, announced its plan to purchase the newly formed entity. The remaining lotto business would assume a name different than IGT. [12]

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References

  1. 1 2 3 4 5 "International Game Technology PLC 2020 Annual Report" (PDF). s28.q4cdn.com. 31 December 2020. Retrieved 25 November 2021.
  2. ↑ Form 20-F: Annual Report (Report). International Game Technology. 29 April 2016. p. 32 – via EDGAR.
  3. ↑ "Approval of the Financial Statements at 31 December 2023 of De Agostini S.p.A." (Press release). Gruppo De Agostini. 3 July 2024.
  4. ↑ Howard Stutz (15 July 2014). "IGT sold in $6.4 billion deal with lottery giant GTECH". Las Vegas Review-Journal. Retrieved 16 July 2014.
  5. ↑ "GTECH S.p.A. Announces Name Of New Company As "IGT" - Yahoo Finance". Archived from the original on 6 March 2015.
  6. ↑ PLC (IGT), International Game Technology. "GTECH And International Game Technology Complete Combination And Form The World's Leading End-To-End Gaming Company". prnewswire.com (Press release).
  7. ↑ PLC (IGT), International Game Technology. "IGT Announces Agreement To Sell Double Down Interactive LLC To DoubleU Games As Part Of New Strategic Partnership In Social Casino". prnewswire.com (Press release).
  8. ↑ Ontario Players Get Access to IGT PlayDigital Games at SkillOnNet Powered Casinos. CasinoRIX News. July 18, 2024.
  9. ↑ "IGT expands in Washington state with Kalispel Tribe deal". 18 February 2022. Retrieved 22 April 2022.
  10. ↑ "IGT signs six-year contract with Singapore Pools". Gambling Insider. 22 March 2022. Retrieved 1 April 2022.
  11. ↑ "IGT Enters into Definitive Agreement to Acquire iSoftBet". European Gaming. 13 April 2022. Retrieved 20 April 2022.
  12. ↑ Richard N. Velotta (29 February 2024). "Gaming giant IGT returning to Las Vegas in $6.2B merger with Everi". Las Vegas Review-Journal. Retrieved 3 March 2024.
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