IGT has announced a commercial re-organisation, creating a Digital and Betting business segment out of the igaming and sports betting divisions formerly part of its Global Gaming department.
The third quarter of 2021 will see the group operate the business segments of the firm, which include the newly created Digital & Betting, the aforementioned Global Gaming and Global Lottery, with the latter holding jurisdiction over the IGT ilottery business.
IGT Digital & Betting will be overseen by CEO Enrico Drago, who will report directly to Marco Sala, the CEO of IGT and previously held the position of Senior Vice President of PlayDigital, maintaining oversight of the IGT sports betting, igaming and ilottery verticals.
“IGT has established strong leadership positions and driven dynamic growth across its igaming and sports betting businesses,” Sala remarked.
“With significant growth expected to continue, we have decided to establish a dedicated Digital & Betting business segment. These businesses have become strategically important to IGT as they afford us 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 solutions portfolio and enables better appreciation of the intrinsic value of these activities.”
Publishing its second quarter trading results in August, IGT reported that total revenue from digital and betting verticals rose by 41% from 1 April to 30 July, indicating a strong recovery from the financial impacts of the COVID-19 pandemic.
The group intends to provide a recast of its historical financials in order to reflect the new segment disclosure, ahead of its third quarter 2021 earnings call. Furthermore, the firm has also detailed that its Investor Day will be held virtually on 16 November 2021, a result of ‘ongoing uncertainty surrounding COVID-19.
In addition, due to the increased restrictions and ongoing uncertainty surrounding COVID-19 and its Delta variant, IGT has decided to hold its Investor Day event virtually and has moved its date to November 16, 2021. More information on the event will be forthcoming.