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IGT to Explore Strategic Alternatives for its Global Gaming and PlayDigital Segments to Drive Long-Term Sustainable Value

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IGT announces review of strategic alternatives for Global Gaming and PlayDigital to enhance shareholder value

International Game Technology PLC  announced that its Board of Directors is evaluating potential strategic alternatives for IGT’s Global Gaming and PlayDigital segments in order to unlock the full value of IGT’s portfolio. IGT’s Board of Directors is considering a broad range of potential alternatives, including but not limited to a sale, merger or spin-off, as well as retaining and further investing in the Global Gaming and PlayDigital businesses.

 Over the last three years, IGT has sharpened its strategic focus by reorganizing around core product verticals, monetizing non-core assets, reducing structural costs and significantly improving its credit profile,” said Marco Sala, IGT Executive Chair.“We believe the intrinsic value of IGT’s market-leading businesses and diversified cash flow profile is not currently reflected in our stock price and the timing is right to assess opportunities that may enhance value for IGT’s shareholders.”

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“IGT is a global leader with deep expertise in lottery, land-based gaming, iGaming and sports betting,” said Vince Sadusky, IGT CEO“We remain focused on the execution of our growth objectives and multi-year goals outlined in our November 2021 Investor Day as we undertake this review and evaluation of strategic alternatives. Regardless of the outcome of this process, IGT is well-positioned to deliver on its long-term growth and profit targets.”

IGT has retained Deutsche Bank, Macquarie Capital and Mediobanca as financial advisors and Sidley Austin and White & Case are serving as legal counsel to assist IGT in exploring strategic alternatives.

No decision has been made regarding any alternative, there is no timeline for the review and there can be no assurance that the exploration of strategic alternatives will result in any transaction. IGT does not intend to comment on or provide updates regarding these matters unless and until it determines that further disclosure is appropriate or required.

 

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Latest News

Celebrate the Season of Love with Amusnet’s Diamond Plus – Valentine’s Edition

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Right in time for the Season of Love, Amusnet is glad to unveil its newest Online Casino portfolio addition, Diamond Plus – Valentine’s Edition.

The game offers a different perspective on one of the company’s most popular video slots, Diamond Plus. It will be available throughout the entire year, ready to bring some romance to everyone who needs it. The dazzling new game release combines a visually pleasing environment, enchanting ambient music, and a variety of vibrant symbols across the 5 reels and 10 fixed paylines.

Watch out for the Pink Diamond symbol, which is an Expanding Wild appearing on the second, third, and fourth reel to substitute for all symbols on the same reel. It also holds the reel that lands on and triggers a free respin of the other reels.

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A selection of special features is also available to add an extra layer of excitement to the gameplay, making it more fun for players to engage with the game while on their journey to a world of romance.

Free Respins

The Expanding Wild symbol triggers a Free Resin. When it is activated, the reels where the Wild symbol appears are held, and the rest start to rotate automatically.

Bonus Spin Mode

During the base game, the player can receive free Bonus Spins. The Jackpot Cards feature cannot be triggered during this mode.

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Gamble

Play the game and multiply your winnings through the Gamble feature!

Jackpot Cards

The Jackpot Cards bonus game is triggered at random during the gameplay to allow players to win impressive jackpots.

The post Celebrate the Season of Love with Amusnet’s Diamond Plus – Valentine’s Edition appeared first on European Gaming Industry News.

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Latest News

Cherry Play adds BetCity to growing roster of partners in the Netherlands

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New and exciting game studio signs yet another top-tier operator to its unique subscription-based content model

BetCity, the popular online casino brand for players in the Netherlands, has become the latest big-name operator to add Cherry Play to its content offering.

Cherry Play is a new and exciting studio led by industry veteran Olga Bajela as Chief Executive Officer and has hit the market with a pioneering subscription-based commercial model.

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BetCity is one of the first operators to join forces with Cherry Play, paying a licence fee instead of the standard revenue share to access the studio’s content and offer it to its players.

Cherry Play has been busy since making its market debut back in December, rolling out two classic slots like Multi Banks, Super Coin and Golden Cherry Jackpot system.

These titles are now available to players at BetCity with additional games landing in the operator’s lobby as soon as they leave the Cherry Play production line.

All of Cherry Play’s games are developed on the powerful Bragg Gaming technology stack, ensuring the highest quality of product and the most efficient operator integration.

Cherry Play is an ambitious provider on a mission to disrupt the slot provision space through great games and its unique commercial model with plans to secure licences beyond the Netherlands.

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Olga Bajela, CEO of Cherry Play, said: “BetCity needs no introduction. This is one of the most successful online casino brands in the Netherlands and we are thrilled to see our first run of slot games land in its lobby.

“Studios live and die on the quality of their games, and that’s why we are committed to producing high-quality slots helped in part by the capabilities of the Bragg Gaming platform. But we also believe there are other areas in need of innovation and that’s why we offer a unique subscription model.

“We believe this combination of top-notch content and a smart commercial offering makes working with Cherry Play a no-brainer for operators in the Netherlands and soon, beyond.”

The post Cherry Play adds BetCity to growing roster of partners in the Netherlands appeared first on European Gaming Industry News.

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Compliance Updates

Why stakeholders must be vocal as part of UKGC consultation on gaming machines

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As the UK Gambling Commission announces the launch of its consultation on proposed new rules for gaming machines, Nick Arron, lead partner for the Gambling Team at Poppleston Allen urges stakeholders to ensure they are heard

The UK Gambling Commission this week announced the launch of a 16-week consultation, seeking input on proposed new rules for gaming machines in retail venues.

The consultation focuses on technical standards and related testing strategy and aims to improve consumer protection through a number of proposed changes. The consultation is due to end on May 20.

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Nick Arron, lead partner for the Betting and Gambling Team at Poppleston Allen, encouraged stakeholders such as operators and licensees to have their say on what impact these proposed changes will have, including the potential costs.

He said: “Robust stakeholder engagement is an important part of this progress. It’s important that operators have their say so that the regulatory framework balances both consumer safety and industry sustainability.

“Changes will require affected businesses to update their processes and technologies to ensure that any changes are not only implemented by the required date but also properly enforced.

“As this consultation progresses, operators will need to weigh the implications of adopting these new standards, not least the cost. While the intention is to enhance consumer protection, businesses must carefully assess the operational and financial implications of the proposed changes.

“While the Gambling Commission’s initiative is a positive step in prioritising consumer safety, the real challenge will be ensuring that the proposed regulatory adjustments are manageable for businesses already operating under thin margins.”

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Tim Miller, Gambling Commission executive director for research and policy, said: “We recognise that regulatory changes that impact the design of machines can come with considerable costs.

“We are encouraging consumers, gambling businesses and other interested groups to share evidence that will assist us in measuring both the likely regulatory impacts of the proposed changes and the likely costs of implementing them.

“This evidence will be invaluable to helping make a robust assessment on whether the benefits to consumers are proportionate to the costs involved.”

The post Why stakeholders must be vocal as part of UKGC consultation on gaming machines appeared first on European Gaming Industry News.

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