IGT considers selling two of its divisions
IGT has recently published an announcement reviewing alternatives for two of its operating divisions.
In its latest announcement, the developer detailed that the company’s board is examining several alternatives for the firm’s PlayDigital and Global Gaming divisions. This includes a potential sale, spin-off as a subsidiary or separate brand, or merger of the operations, which will be aimed at enhancing the investor value of the firm.
The Executive Chairman at IGT, Marco Sala, remarked:
“Throughout the past little while, we have enhanced our long-term strategies by focusing on our core offerings, monetizing the assets of our secondary operations, optimizing our structural spending, and enhancing our credit profile. In our view, the value of the industry-leading diversified operating segments of IGT is not appropriately reflected in its market valuation, which has driven us to consider alternative opportunities to enhance our investor value.”
IGT’s CEO, Vince Sadusky, commented:
“IGT is an industry-leading firm in the retail gambling, iGaming, wagering, and lottery verticals, and remains dedicated to executing our long-term expansion strategies to reach our goals. We are in an excellent position to continue growing at pace for the foreseeable future regardless of the result of our latest review.”
This latest announcement follows a few days after the developer extended its longstanding contract with Sony, extending IGT’s rights to the media firm’s Wheel of Fortune brand, which has proven to be one of the gambling industry’s most successful licensing deals.