History
The company began as Consorzio Lottomatica, an Italian lottery operator.[7] De Agostini, a family-owned conglomerate in Italy, acquired a majority stake in Lottomatica in 2002.[8]
In 2006, Lottomatica acquired Gtech Corporation, a Rhode Island-based lottery and gaming technology company, which it ran as a U.S. subsidiary, changing its name to Gtech S.p.A. in 2013.[9]
IGT was listed as a creditor in 2014, when Atlantic City casino owner Trump Entertainment Resorts declared its fourth bankruptcy.[10][11]
In April 2015,[12] Gtech acquired American company International Game Technology (1975–2015), the world's largest slot machine manufacturer, for $6.4 billion, including $4.7 billion in cash and $1.7 billion in assumed debt. The companies combined under a new holding company based in the United Kingdom, and the Gtech name was replaced International Game Technology.[13][14]
The company was fined $500,000 by the United States Securities and Exchange Commission (SEC) under the Dodd-Frank Act in 2016, for having illegally fired an internal whistleblower after the employee reported financial statements irregularities to senior management.[15]
In April 2017, IGT announced an agreement to sell its subsidiary Double Down Interactive LLC To DoubleU Games as a means to establish a partnership in the social casino market.[16][17]
In 2017 GTECH operated jackpots in 100 countries, while continuing to be "the subject of controversies stretching back decades."[18]
In February 2022, IGT announced their expansion into Washington state via a multi-year deal with the Kalispel tribe.[19]
In March 2022, International Gaming Technology's subsidiary IGT Global Services announced their six-year partnership agreement with Singapore Pools Limited.[20]
In April 2022, International Games Technology announced their deal to acquire igaming content provider iSoftBet for approximately €160 million.[21]
In February 2024 the company announced it would spin-off its non-lotto businesses tax-free, and then immediately merge the new entity with Everi. Apollo Global Management subsequently announced its plan to purchase the newly formed entity. The remaining lotto business would assume a name different than IGT,[22] with IGT changing its name, and continuing to trade on the NYSE under a new ticker symbol, and the merged gaming entity acquiring the International Gaming Technology (IGT) name. The newly expanded IGT will remain based in Las Vegas, to be led by IGT CEO Vince Sadusky, with a new CEO to be appointed to lead the former IGT entity.[23]
The agreement was formalized that July 26, pending regulatory approvals.[24] After Apollo stepped in to acquire the merging company, Sadusky was ousted.[25] and, in December 2024, it was announced that CEO Hector Fernandez would resign from Aristocrat Gaming to become CEO of the newly re-formed International Games Technology, following the gaming division merger with Everi.[26] Sadusky will lead the remaining spun-off lottery operations business, under its new name.[25] De Agostini is to retain a minority stake in the expanded company.[27]
