Industry News
International Game Technology PLC Announces Completion of Sale of Italian Commercial Payment Business to PostePay S.p.A.

International Game Technology PLC announced that its wholly owned subsidiary IGT Lottery S.p.A. has completed the sale of its Italian proximity payment business to PostePay S.p.A. – Patrimonio Destinato IMEL for €700 million.
The negotiated sale price represented an enterprise value of €630 million and approximately €70 million of net unrestricted cash. The business held approximately €140 million in unrestricted cash at the closing. The increase in unrestricted cash is primarily attributable to timing of vendor payments and operating cash flows generated since December 31, 2021. IGT will use the proceeds from the transaction primarily to pay transaction expenses and reduce debt.
UBS AG acted as lead financial advisor and fairness opinion provider to IGT, UniCredit S.p.A. acted as financial advisor to IGT. Advant-Nctm acted as legal advisor to IGT and KPMG acted as financial due diligence and tax advisor to IGT.
-
Asia6 days ago
SA Gaming is thrilled to announce the launch of Fish Prawn Crab
-
Asia7 days ago
Team Zero Gravity Triumphs in Indus International Tournament Powerplay, Secures Spot in LAN Finale
-
Latest News7 days ago
Thunderkick partners with Veikkaus for Finnish market entry
-
Asia7 days ago
DigiPlus Bags 7 Wins at the 2025 Asia-Pacific Stevie Awards
-
Latest News7 days ago
Serving Them Up: How Player Wealth Scores Can Power More Intelligent In-Play Betting
-
Australia7 days ago
Martin Pakula Named Chair of Crown Melbourne
-
eSports5 days ago
Esports World Cup Foundation Confirms Full Game Lineup, Schedule, and Club Championship Rules for EWC 2025
-
Latest News4 days ago
GR8 Tech Powers Smarter Betting with New Match Trackers