IGT Creates New Betting and Digital Segment

IGT Creates New Betting and Digital Segment

International Game Technology (IGT), a global supplier of gaming solutions has announced the creation of a new business segment that includes sports betting and online casino business. The new Digital & Betting division that will be headed by Enrico Drago who will also be the CEO reporting to IGT CEO Marco Sala will now be the third business segment for IGT after Global Gaming and Global Lottery. IGT will report earnings from three segments starting from the third quarter of 2021. IGT has clarified that the iLottery business would be classified under the Global Lottery segment.

Comments on the deal

Marco Sala, CEO of IGT commented that the sports betting and the online casino business have become strategically important to IGT because they give IGT the opportunity to leverage strong customer relationships and global reach of the Global Gaming segment. The new structure according to Marco Sala will give flexibility in the products and solutions portfolio and helps in the appreciation of the intrinsic value.

Financial implications

Since revenue will be declared in three segments, IGT will recast its historical financials in time for the Q3 earnings call. Investor Day of IGT will take place on November 16, 2021 on account of the global pandemic and the restrictions in place on account of the pandemic.

Enrico Drago introduction

Enrico Drago, Digital & Betting CEO of IGT has been with IGT since 2014 when he was appointed as Chief Operating Officer of IGT’s Italian subsidiary, Lottomatica. In 2017, Enrico Drago became the SVP Global Interactive, Sports Betting, and Licenses and in 2018, Enrico Drago became the SVP Play Digital, heading the fast-growing portfolio of online gaming and sports betting products, platforms, and services.

Since 2001, Enrico Drago became the Vice President of De Agostini that is a major shareholder of IGT that holds approximately 50.4% ordinary shares and 64.98% of voting rights. Prior to being a part of IGT, Enrico Drago was employed at Inditex Italia where he was chosen for the leadership program for high potential managers. Puig Beauty and Fashion was the employer of Enrico Drago prior to Lottomatica. Enrico Drago’s father is Marco Drago, Chairman of De Agostini and member of the Board of Directors of IGT.

About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.