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International Game Technology has created a separate digital and betting business sector as part of its strategy to achieve “significant growth” in the future.
The company’s igaming and sports betting operations, which were previously part of its global gaming sector, will be affected by the separation.
Enrico Drago has been named chief executive officer of digital and betting, reporting to Marco Sala, IGT’s CEO, and will begin his duties immediately.
Drago formerly served as senior vice president of PlayDigital, where he oversaw the IGT igaming, iLottery, and sports betting businesses after joining the company in 2014 as chief operating officer of subsidiary Lottomatica, where he oversaw the Italian business strategy and operations.
Of the company’s latest business update Salsa said: “IGT has established strong leadership positions and driven dynamic growth across its igaming and sports betting businesses. With significant growth expected to continue, we have decided to establish a dedicated digital and betting business segment,” Sala said of the company’s latest business update.
“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.”
“Vitality of our portfolio”
IGT praised the “vitality of our portfolio” last month as revenue surpassed $1 billion in the second quarter of the year.
This is a 74 percent increase over the $600 million in 2020, as the group’s worldwide lottery division posted its second-highest revenue and profit levels, owing to robust player demand.
Revenue for the segment increased by 58 percent to $725 million (2020: $460 million), thanks to a 35 percent increase in same-store sales, and revenue for its global gaming division was $316 million, up 12 percent year over year and 19 percent sequentially on sustained recovery trends.