IGT creates special business segment for iGaming and sports betting

International Game Technology (IGT) announced Wednesday the establishment of a dedicated Digital & Betting business segment, comprising its iGaming and sports betting activities that were previously part of the Global Gaming segment.  

Beginning with the third quarter of FY2021, IGT will report results under three business segments, which are: Global Lottery, Global Gaming and Digital & Betting. The IGT iLottery business remains part of the company’s Global Lottery segment. 

Enrico Drago will serve as CEO, Digital & Betting, reporting to Marco Sala, CEO of IGT, effective immediately. Drago, 44, had previously oversight of the IGT iGaming, iLottery and sports betting business as Senior Vice President, PlayDigital. 

In advance of its third-quarter 2021 earnings call, the company expects to provide a recast of its historical financials to reflect the new segment disclosure. 

In an official press release, CEO of IGT Marco Sala, spoke about this new business segment and 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 & 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."

In addition, due to the increased restrictions and ongoing uncertainty surrounding COVID-19 and the Delta variant, IGT has decided to hold its Investor Day event virtually and has moved its date to November 16, 2021.