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IGT expands by adding digital and sports betting business segment

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IGT expands their business with the addition of a dedicated Digital and Sports betting segment.

The online casino industry is constantly evolving with iGaming companies expanding to ensure growth wherever possible.

IGT is one of the biggest names that continue to take initiative and find ways to drive their future growth on all fronts.

This shows in their latest move to branch out with a new dedicated digital and betting segment focused on their iGaming and Sports betting activities.

IGT welcomes the third segment in business

It is a new day for International Game Technology (IGT) as they welcome their new Digital and Betting business. The iGaming and Sports Betting operations that previously ran under the Global Gaming segment will now be an individual business segment headed by Enrico Drago.

Drago is to become the CEO of the Digital and Betting segment, reporting straight to the Chief Executive of IGT, Marco Sala. Drago has had many years of experience within the industry including overseeing IGT iGaming, iLottery, and sports betting. There is a lot of confidence in the decision to put him at the top of the new segment.

IGT's business will now have three different segments which include the new Digital and Betting division, the Global Lottery, and the Global Gaming divisions. According to the company, they will start reporting results for the Digital and Betting business separately from the other two divisions from the third quarter of the 2021 financial year.

In the recent reveal of the new segment, IGT also made it clear that the IGT iLottery business will remain part of the Global Lottery segment.

According to IGT chief executive, Marco Sala, they have succeeded in establishing strong leadership positions while driving dynamic growth across their iGaming and sports betting business. Sala is confident the significant growth will only continue which is one of the main reasons they are separating segments and adding a dedicated Digital and Betting business segment.

The chief executive also revealed that these businesses play a vital role in terms of strategy as they provide more opportunities to leverage the global reach and strong customer relationships from the Global Gaming segment. It will also provide more flexibility in their products and solutions portfolio which will give chance for better appreciation of the value they have to offer.

For IGT it has been a successful year thus far as they upped their revenue and operating profit throughout the year. According to the latest results, Q2 revenue grew by 73.5% to $1.04bn in 2021. The sale of Lottomatica also helped the business return to its profitability.

The future success of the third segment

IGT's portfolio and the provider itself is one of the leaders in the iGaming industry and has made a couple of very smart moves in terms of business. The majority of their decisions thus far have been to increase profitability and company growth.

In terms of the results, it can easily be seen that adding a third segment exclusively dedicated to Digital and Betting operations will be greatly beneficial. The industry is thriving and growing at a rapid speed. This third leg will provide more room to grow and space to play in terms of their offering.

It will also allow for an expansion in their product availability, and continuous growth across the globe. Which for any successful iGaming company are one of the determining factors for longevity and permanent success within the industry. The increased flexibility in their product and services portfolio is bound to go a long way.

Published: September 26, 2021

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Article by Stelly

CasinoWow Contributor

Hey there! I am Stelly, and happily, I'm part of CasinoWow's content team. It excites me to be able to write and share with all gambling enthusiasts unbiased reviews and news that contribute to the gambling community and industry. Thankfully, I also have the chance to help you make an informed choice for casino brands and games, as well as provide interesting guides and news.

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