IGT to boost its online slots catalog with the acquisition of iSoftBet for $174 million
London-based International Gaming Technology (IGT) is quite the multitasking business.
On April 6, he responded to a Rhode Island court on why it should rule on US Department of Justice2018’s anti-iGaming interpretation of the Son Act.
On April 11, IGT announced the acquisition of London-iGaming content provider headquartered at iSoftBet for 160 million euros in cash (174 million US dollars).
CEO of IGT Vince Sadusky said on April 11:
“It will improve [IGT] PlayDigital’s competitive capabilities with a proven and complementary content portfolio across Europe and North America, as we deliver the best games and technology to our rapidly growing iGaming customers.
Indeed, IGT has its roots in the retail slots and lottery technology industries. Its history dates back to 1975, long before online gambling existed. However, it is also a force in iGaming and online sports betting technology, and it is increasingly focusing on these products. The iSoftBet deal represents a significant boost to its online slots catalog.
IGT, iSoftBet deal brings 225 proprietary games
Acquisition means the securities of IGT, such as Wheel of Fortune, Ghostbusters and Cleopatra slot machines, will be joined by iSoftBet variations on Hold and Win, Megaways, Ultrabet and Megaboard.
IGT’s American online casino games are available to online gamblers in five States through “major online gambling operators,” IGT said March 21 in its announcement regarding entry into the West Virginia iGaming market.
In this state, IGT expected punters to care about games such as:
- fortune coin
- siberian storm
- Ultimate X Poker
FanDuel and Penn National Gaming are among the IGT partner operators likely to benefit from the agreement.
In addition to iSoftBet 125 proprietary games, IGT earns more than 4,600 third-party games on iSoftBet’s aggregation platform.
The deal is expected to be finalized in the second quarter of 2022.
Before news of the deal hit investors on April 11, IGT stock was $22.80. He climbed to $23.55at market close yesterday.