Home » DeAgostini’s IGT gets married to Everi and takes up residence in Las Vegas

DeAgostini’s IGT gets married to Everi and takes up residence in Las Vegas

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DeAgostini’s IGT gets married to Everi and takes up residence in Las Vegas

MILANO –Big shot a Las Vegaswhere a gaming and casino giant is about to be born. International Gaming Technology (Igt)a gaming and lottery giant listed on Wall Street and controlled by the DeAgostini group (which has 42.6% of the capital and 60% of the voting rights) agrees married to Everispecializing in slot machines and casinos, to give life to a $6.2 billion group of business value, of which the company belonging to the Novara group will have the majority of the capital, of the cda (6 out of 11 administrators) e will choose the first line of managers, including CEO Vince Sadusky.

Separation of lotteries from games, and then merger

Before merging with Everi, Igt will be split into two: the members of the group with registered office in the UK and a headquarters in Rhode Island will in fact be given two shares, one of all lottery activities (including the Italian Lottobut also lotteries in the USA and Brazil) e one with all the other games which will then flow to wedding with Everi becoming the new Igt. The current CEO of IGT, Sadusky, will lead the company resulting from the integration; The Executive Chairman of Everi, Michael Rumbolz, will hold the position of president of the board of directors of the new IGT. The activities led by Sadusky were valued at 4 billion dollars (of which 2.6 debt) and those of Everi 2.2 billion dollars (of which one billion in debt) therefore the old shareholders of Igt including the group headed by Boroli Drago families, will have 54% of the shares of the new group, while those of Everi will have the remaining 46%. By bringing together games, slot machines and casinos, a group based in Las Vegas will be born, capable of generating significant cash flows with important synergies on the cost and revenue side. The pro forma turnover expected for 2024 of the new IGT is approximately 2.7 billion dollars, a pro-forma adjusted EBITDA of approximately 1 billion dollars and a network of approximately 70,000 games installed, including mainly slot machines

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Accelerate the gaming decree. The government wants at least one billion from the new tender for the Giuseppe Colombo Lotto 29 February 2024

For the lot new name and new CEO

Il However, the lotteries remain the heart of the mattersince they represent the 61% of 4.2 billion dollars total revenues of the group made in 2022 with one significantly higher margins compared to the other businesses (51% at the level of adjusted ebitda and 35% at the level of operating profit). However, the lottery company will have to find a new name and a new CEO of the listed group, while Renato Ascoli will be the CEO of the Global Lottery division.

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