International Game Technology PLC Announces New Digital and Betting Business Segment, Provides Investor Day Update
LONDON, September 8, 2021 / PRNewswire / – International Game Technology PLC (NYSE: IGT) (“IGT” or the “Company”) today announced the creation of a dedicated digital and betting business segment, comprising its iGaming and betting businesses sportspeople who were previously part of the world games segment. As a result, starting in the third quarter of fiscal 2021, IGT will report results in three business segments: World Lottery, World Games, and Digital & Betting. The IGT iLottery business will continue to be part of the Company’s Global Lottery segment.
Enrico Drago will serve as CEO, Digital & Betting, reporting to Marco sala, CEO of IGT, with immediate effect. Drago, 44, previously oversaw the IGT iGaming, iLottery and Sportsbook businesses as Senior Vice President of PlayDigital.
“IGT has established strong leadership positions and generated dynamic growth in its video game and sports betting businesses. With significant growth expected to continue, we have decided to create a business segment dedicated to digital and betting. “ noted Marco sala, CEO of IGT. “These companies have become strategically important to IGT as they provide us with the opportunity to leverage the global reach and strong customer relationships of our Global Gaming segment. The new structure gives us more flexibility in our product and solution portfolio. and allows a better appreciation of the intrinsic value of these activities.
Prior to the release of third quarter 2021 results, the company plans to provide an overhaul of its historical financial data to reflect the new segment information.
Additionally, due to the increased restrictions and continuing uncertainty surrounding COVID-19 and its Delta variant, IGT has decided to virtually hold its Investor Day event and moved its date to November 16, 2021. More information on the event will be coming soon.
Prior to his appointment as CEO, Digital & Betting, Enrico Drago served as Senior Vice President of PlayDigital from July 2018, leading a fast-growing and award-winning portfolio of digital gaming / lottery and sports betting products, platforms and services. He has also been Vice-President of De Agostini SpA since June 2021. June 30, 2021, De Agostini SpA held approximately 50.40 percent of the ordinary shares of IGT and approximately 64.98 percent of the voting rights attached to the ordinary shares of IGT. Drago has also been an advisor to Nina Capital, a leading European venture capital firm focused on healthcare technology companies, since 2019. He is the son of Marco drago, member of the board of directors of IGT and chairman of De Agostini SpA
In 2014, Enrico Drago joined IGT as Chief Operating Officer of the Lottomatica subsidiary, overseeing Italian business strategy and operations. In 2017, he assumed the role of Senior Vice President Global Interactive, Sports Betting and Licenses. Prior to joining IGT, he led teams for Inditex Italia, which he joined as part of a leadership program for high potential managers. Draco was chosen as Italy Deputy Managing Director of the Bershka, Pull & Bear brands, Zara, Oysho, Stradivarius and Massimo Dutti and appointed Managing Director of Inditex Italia in 2011. Prior to his role at Inditex Italia, Drago worked at Puig Beauty and Fashion.
IGT (NYSE: IGT) is the world’s leading gaming company. We provide fun and responsible gaming experiences for players across all regulated channels and segments, from gaming machines and lotteries to sports and digital betting. Leveraging a wealth of compelling content, substantial investments in innovation, player knowledge, operational expertise and cutting-edge technology, our solutions deliver unparalleled gaming experiences that engage gamers and drive growth. . We have a well-established local presence and relationships with governments and regulators in over 100 countries around the world, and create value by adhering to the highest standards of service, integrity and accountability. IGT has approximately 11,000 employees. For more information, please visit www.IGT.com.
Caution regarding forward-looking statements
This press release may contain forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) regarding IGT and its consolidated subsidiaries (the “Society“) and other matters. These statements may discuss objectives, intentions and expectations regarding plans, trends, future events, dividends, results of operations or financial condition, or otherwise, based on the current beliefs of the management of the Company as well as the assumptions made by such management and the information currently available to them. Forward-looking statements may be accompanied by words such as “aim”, “anticipate”, “believe”, “plan” , “Could”, “could”, “should”, “must”, “continue”, “estimate”, “expect”, “foresee”, “future”, “orient”, “intend to “,” May “,” will “,” possible “,” potential, “” predict “,” project “or their negative or other variations. These forward-looking statements speak only as of the date on which such statements are made and are subject to various risks and uncertainties, many of which are outside the company.If one or more of these risks or uncertainties materialize, or if the any of the underlying assumptions prove to be incorrect, actual results may differ materially from those predicted in forward-looking statements and from past results, performance or achievements. Therefore, you should not place undue reliance on these statements. Factors that could cause actual results to differ materially from forward-looking statements include (but are not limited to) the factors and risks described in the Company’s annual report on Form 20-F for the year. ended December 31, 2020 and other documents filed from time to time with the SEC, which are available on the SEC’s website at www.sec.gov and in the Investor Relations section of the Company’s website at www.IGT.com. Except as required by applicable law, the Company assumes no obligation to update these forward-looking statements. You should carefully consider these factors and other risks and uncertainties that affect the Company’s business. All forward-looking statements contained in this press release are qualified in their entirety by this cautionary statement. All subsequent written or oral forward-looking statements attributable to International Game Technology PLC, or to persons acting on its behalf, are expressly qualified in their entirety by this cautionary statement.
Phil O’Shaughnessy, Global Communications, toll-free number in the United States /Canada +1 (844) IGT-7452 and outside the US /Canada +1 (401) 392-7452
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James hurley, Investor Relations, +1 (401) 392-7190
SOURCE International Game Technology PLC