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GTI Global Network > News > International
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IGT completes sale of its Italian B2C gaming business

IGT, which has business in more than 100 countries around the world, sold 100% of the the share capital of its two Italian businesses Lottomatica Videolot Rete and Lottomatica Scommesse to Gamenet Group for US$1.15 billion. International Game Technology PLC(IGT) announced that on May 10, its wholly-owned subsidiary Lottomatica Holding completed the sale of 100% of the share capital of Lottomatica Videolot Rete and Lottomatica Scommesse, the members of the IGT group which conduct its Italian B2C gaming machine, sports betting, and digital gaming businesses, to Gamenet Group, a subsidiary of funds managed by an affiliate of Apollo Global Management, Inc. The sale was done for a cash purchase price of €950 million (US 1.15 billion), €725 million (US$879.5 million) of which was paid at closing, €100 million (US$121.3 million) of which is payable on December 31, 2021, and the remaining €125 million (US$151.6 million) of which is payable on September 30, 2022.

IGT is the global leader in gaming, delivering entertaining and responsible gaming experiences for players across all channels and regulated segments, from Gaming Machines and Lotteries to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, IGT’s solutions deliver unrivaled gaming experiences that engage players and drive growth. IGT has a well-established local presence and relationships with governments and regulators in more than 100 countries around the world and create value by adhering to the highest standards of service, integrity, and responsibility. (2021/05/26)

 
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