IGT PlayDigital content library will more than
double to approximately 225 proprietary games
Will Provide IGT PlayDigital with advanced
third-party game aggregation platform
LONDON, April 11, 2022 /PRNewswire/ --
International Game Technology PLC (NYSE: IGT) ("IGT") today
announced that it has entered into a definitive agreement to
acquire iSoftBet, a leading igaming content provider and
third-party game aggregator, for approximately €160 million in
cash.
The acquisition will more than double the IGT PlayDigital
content library to approximately 225 proprietary games, in addition
to providing a world-class, proprietary game aggregation platform
to distribute third-party games, and leading data-driven
promotional and user-engagement tools.
"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," said Vince
Sadusky, IGT CEO. "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."
The acquisition is expected to be completed during the second
quarter of 2022, subject to the satisfaction of customary closing
conditions.
Oakvale Capital LLP is acting as lead financial advisor to IGT.
Wachtell, Lipton, Rosen & Katz is acting as legal advisor to
IGT and KPMG LLP is acting as tax and financial due diligence
advisor to IGT.
M. Firon & Co. and Wiggin LLP acting as legal advisor to
iSoftBet. BDO Israel is acting as independent registered public
accounting and tax firm of iSoftBet.
About iSoftBet
iSoftBet is a leading igaming content provider and third-party
game aggregator. For the 2021 fiscal year, iSoftBet generated
revenue of approximately €30 million and EBITDA of approximately €8
million. The iSoftBet portfolio contains approximately 125
proprietary games and more than 4,600 third-party games through the
iSoftBet proprietary game aggregation platform. With primary office
locations in England, Malta, and Romania, and approximately 350 employees and
contractors, iSoftBet has approximately 260 igaming operators as
customers and its games are certified by 20 European
regulators.
About IGT
IGT (NYSE:IGT) is a global leader in gaming. We deliver
entertaining and responsible gaming experiences for players across
all channels and regulated segments, from Lotteries and Gaming
Machines to Sports Betting and Digital. Leveraging a wealth of
compelling content, substantial investment in innovation, player
insights, operational expertise, and leading-edge technology, our
solutions deliver unrivaled gaming experiences that engage players
and drive growth. We have 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. IGT
has approximately 10,500 employees. For more information, please
visit www.igt.com.
Cautionary Statement Regarding Forward-Looking
Statements
This news release may contain forward-looking statements
(including within the meaning of the Private Securities Litigation
Reform Act of 1995) concerning International Game Technology PLC
and its consolidated subsidiaries (the "Company") and other
matters. These statements may discuss goals, intentions, and
expectations as to future plans, trends, events, dividends, results
of operations, or financial condition, or otherwise, based on
current beliefs of the management of the Company as well as
assumptions made by, and information currently available to, such
management. Forward-looking statements may be accompanied by words
such as "aim," "anticipate," "believe," "plan," "could," "would,"
"should," "shall", "continue," "estimate," "expect," "forecast,"
"future," "guidance," "intend," "may," "will," "possible,"
"potential," "predict," "project" or the negative or other
variations of them. 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's control. Should one or more of these risks or
uncertainties materialize, or should any of the underlying
assumptions prove incorrect, actual results may differ materially
from those predicted in the forward-looking statements and from
past results, performance, or achievements. Therefore, you should
not place undue reliance on such statements. Factors that could
cause actual results to differ materially from those in the
forward-looking statements include (but are not limited to) an
inability to satisfy the conditions to the completion of the
transaction described in this release on the expected
timeline, if at all, as well as the factors and risks described in
the Company's annual report on Form 20-F for the financial year
ended December 31, 2021 and other documents filed from time to
time with the SEC, which are available on the SEC's website
at www.sec.gov and on the investor relations section of
the Company's website at www.IGT.com. Except as required under
applicable law, the Company does not assume any 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 news 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 persons acting on its behalf, are expressly
qualified in their entirety by this cautionary statement.
Contacts
Phil
O'Shaughnessy, Global Communications, toll free in
U.S./Canada +1 (844) IGT-7452 and
outside U.S./Canada +1 (401)
392-7452
Francesco Luti, Italian media
inquiries, +39 06 5189 9184
James Hurley, Investor Relations, +1
(401) 392-7190
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SOURCE International Game Technology PLC