IGT to Expand Its Online Casino Offering after iSoftBet Takeover
Published: April 19, 2022
That‘s not all, as IGT will also get iSoftBet‘s aggregation platform, which will allow the company to offer third-party content to players and operators. At the same time, it will benefit from the developer‘s range of promotional and user engagement tools.
The acquisition represents a significant move for IGT. It‘s the London-based company‘s first online casino acquisition since 2014 when it bought Probability Inc for approximately $33 million.
According to IGT‘s full-year results for 2021, more than $1.2 billion in net-cash profits has been secured following the sale of Lottomatica to Gamenet Group.
The company announced it would use all of 2021 profits to create a new online gambling profile for IGT, which is now led by the new Chief Executive, Vince Sadusky.
The deal is expected to be completed during the second quarter of this year. Once closed, the acquisition will allow IGT to expand its operations, as it will incorporate 350 employees currently working for iSoftBet across twenty jurisdictions in Europe.
Commenting on the first M&A transaction completed during his leadership, Sadusky said:
The acquisition of iSoftBet will provide market-tested proprietary digital content, advanced game aggregation capabilities, scalable promotional tools, analytics and strong creative talent to IGT’s PlayDigital operations. This will enhance PlayDigital’s competitive capabilities with a proven, complementary content portfolio across Europe and North America as we provide best-in-class games and technology to our fast-growing iGaming customers.
IGT is a multinational gambling company known for producing slot machines and other technology. Founded in 1990, the company is based in London, with offices in Las Vegas, Reno, Providence, and Rome.
IGT offers a highly entertaining gaming experience, boasting high quality and innovation. With partners in more than 1000 countries worldwide and an experienced team of over 11,000 employees, the company is one of the leading names in the industry.