IGT agrees deal to acquire iSoftBet for €160m

11th April 2022 12:28 pm GMT

New York-listed International Game Technology (IGT) has entered into a definitive agreement to acquire online casino games provider and third-party game aggregator iSoftBet for €160m in cash.

The acquisition will more than double IGT PlayDigital’s content library to around 225 proprietary games, while the deal will also provide IGT with a proprietary game aggregation platform to distribute third-party games, alongside data-driven promotional and user-engagement tools.

“The acquisition of iSoftBet will provide market-tested proprietary digital content, advanced game aggregation capabilities, scalable promotional tools, analytics and strong creative talent to IGT's PlayDigital operations,” said IGT CEO Vince Sadusky.

“This will enhance PlayDigital's competitive capabilities with a proven, complementary content portfolio across Europe and North America as we provide best-in-class games and technology to our fast-growing igaming customers.”

The acquisition is expected to be completed during the second quarter of 2022, subject to the satisfaction of customary closing conditions.

Last year iSoftBet generated revenue of €30m and EBITDA of €8m. It currently has a portfolio of 125 proprietary games and more than 4,600 third-party games through the supplier’s aggregation platform.

With primary office locations in England, Malta, and Romania, and around 350 employees and contractors, iSoftBet has 260 iGaming operator partners, with its games certified by 20 European regulators.

Shares in International Game Technology plc (NYSE:IGT) closed 2.76 per cent higher at $23.05 per share in New York Friday.

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