International Game Technology (IGT) is establishing a betting and digital gambling subsidiary to capitalize on the growing online gambling sector in the United States and internationally.
IGT Establishes a Dedicated Betting and iGaming Division
International Game Technology (IGT) is launching a betting and digital gambling subsidiary to tap into the booming US and global online gambling market.
Previously, the company's iGaming and sports divisions were grouped together under the global gaming business.
Beginning the third quarter of 2021, the firm will start reporting results separately for Global Lottery, Global Gaming, and Digital & Betting.
Enrico Drago, who previously led IGT's internet casino, iLottery, and sports betting companies, will lead the new division as CEO, reporting directly to IGT CEO Marco Sala.
Talking about this big step, Marco Sala, CEO of IGT, said that IGT has established significant leadership positions and drove dynamic growth in its iGaming and sports betting operations.
“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.”
He explained that the company created a specific Digital & Betting business area since they expect strong growth to continue.
"These businesses have become strategically important to IGT as they allow us to leverage the global reach and strong customer relationships of our Global Gaming segment.", concluded Sala.
IGT and SciGames Run Shoulder to Shoulder
IGT and its competitor SciGames currently hold 20% of the online slots market in the United States, which is projected to grow in the coming months as new states get online.
According to some projections, the iGaming sector will be worth $23 billion in GGY by 2030, with slots accounting for almost 70% of that.
