LONDON, July 1, 2020 /PRNewswire/ -- International
Game Technology PLC ("IGT" or the "Company") (NYSE: IGT) today
announced a new organizational structure focused primarily on two
business segments: Global Gaming and Global Lottery. This new
structure is designed to:
- provide greater responsiveness to customers and players;
- increase IGT's effectiveness and competitiveness in providing
products and solutions that address the opportunities of each
market segment;
- harmonize best practices across both B2B and B2C channels in
each product category; and
- reduce complexity and increase organizational efficiency to
support IGT's intrinsic value.
"A simplified organizational structure grounded in our core
competencies creates a stronger, more focused IGT," said
Marco Sala, CEO of IGT.
"We have always maintained a customer-first mentality and are
positioning ourselves to meet ever-evolving needs in a dynamic,
global marketplace. Global product segments enable us to leverage
our extraordinary talent, unique insights as both an operator and
service provider, and economies of scale to continue delivering
unrivalled gaming experiences and create value for all
stakeholders."
Reporting to Marco Sala,
Renato Ascoli will serve as CEO,
Global Gaming; Fabio Cairoli will
serve as CEO, Global Lottery. This new structure is effective from
July 1, 2020, and IGT will start
reporting its financial results under these two business segments
starting with the third quarter of 2020. Financial results for the
second quarter of 2020 will be reported in line with the legacy
organizational structure.
The Global Gaming and Global Lottery segments will have all of
the key operating capabilities and autonomy necessary to manage the
business, including product management, sales, technology and
research and development. The business segments will be
supported by central corporate support functions that remain
largely unchanged from a leadership standpoint, with the addition
of a New Business and Strategic Initiatives function. The new
structure addresses key synergy and development areas, while
continuing to ensure appropriate governance.
Global Gaming will have full responsibility for the IGT Gaming
business, consolidating North
America, International and Italy B2C Gaming responsibilities. This
includes PlayDigital, Sports and Italy Gaming — led by Enrico Drago — as well as Global Gaming Sales,
Global Gaming Product Management, Global Gaming Studios, Global
Manufacturing, Operations and Services including Global Gaming
Technology.
Global Lottery will have full responsibility for the IGT Lottery
business, consolidating North
America, International and Italy. This includes Global Lottery Sales and
Operations, Global Lottery Product and Sales Development, and
Global Lottery Technology and Support. This structure enhances
global strategic vision and framework, leveraging proven customer
focus and execution while positioning the organization for improved
collaboration and best practices sharing.
Reporting to Marco Sala,
Walter Bugno will lead a New
Business and Strategic Initiatives corporate function. In line with
the strategic objective of having a clear focus on our business'
priorities within IGT's portfolio, this group is responsible for
leading business development in jurisdictions where IGT is not
present, and where — while there may be a company presence — there
is no defined product segment presence.
Additionally, the New Business and Strategic Initiatives group
is responsible for managing new in-country initiatives during the
start-up phase and offering on-demand commercial support
globally for key accounts with multiple product requirements.
It will also be responsible for managing key strategic
initiatives within existing jurisdictions as needed and as
determined by company leadership. The group will work in unison
with the two new global business units in delivery of all
initiatives, with financials rolling up to Global Gaming and Global
Lottery.
Executive Biographies
Prior to his appointment as CEO,
Global Gaming, Renato Ascoli served
as CEO, North America of IGT PLC.
In this capacity, other than serving all North America Customers,
he held global responsibility for product development,
manufacturing, product management, technology and delivery of all
the Company's portfolio outside of Italy.
Prior to his appointment as CEO, Global Lottery, Fabio Cairoli served as CEO Italy of IGT PLC,
where he was responsible for managing all business lines, marketing
services, and sales for the Company's Italian operations. Through
his leadership of the largest lottery operator in the world, Mr.
Cairoli shares insights and best practices with other organizations
in the Company.
Prior to his role as leader of IGT New Business and Strategic
Initiatives, Walter Bugno served as
CEO, International of IGT PLC, where he was responsible for the
management and strategic development of the International region.
He led the Company's lottery, gaming, and interactive businesses
throughout Europe (except
Italy), as well as in the
Middle East, Latin America and the Caribbean, Africa, and the Asia-Pacific region.
For more information about IGT, visit IGT.com, go to Facebook at
facebook.com/IGT, follow us on Twitter at twitter.com/IGTnews, or
watch IGT videos on YouTube at youtube.com/igt.
About IGT
IGT (NYSE:IGT) is the global leader in
gaming. We deliver 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, 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 12,000 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) the
uncertainty of the duration, extent, and effects of the COVID-19
pandemic and the response of governments, including
government-mandated property closures and travel restrictions, and
other third parties on the Company's business, results of
operations, cash flows, liquidity and development prospects and the
factors and risks described in the Company's annual report on Form
20-F for the financial year ended December
31, 2019 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. Nothing
in this news release is intended, or is to be construed, as a
profit forecast or to be interpreted to mean that the financial
performance of International Game Technology PLC for the current or
any future financial years will necessarily match or exceed the
historical published financial performance or International Game
Technology PLC, as applicable. 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.
Contact:
Phil
O'Shaughnessy, Global Communications, toll free in
U.S./Canada +1 (844) IGT-7452;
outside U.S./Canada +1 (401)
392-7452
Francesco Luti, +39 3485475493; for
Italian media inquiries
James Hurley, Investor Relations, +1
(401) 392-7190
© 2020 IGT
The trademarks and/or service marks used herein are either
trademarks or registered trademarks of IGT, its affiliates or its
licensors.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/igt-streamlines-business-and-leadership-under-new-organizational-structure-301086473.html
SOURCE International Game Technology PLC