IGT brings cashless gaming to Svenska Spel VLTs

New York-listed gaming supplier IGT has rolled out its cashless payment technology in Sweden with Svenska Spel.

IGT’s Intelligen VLT system and Quasar cabinets have powered Svenksa Spel’s video lottery offering since 2017 and now feature IGTPay, a cashless solution that allows players to fund their gameplay through their mobile device.

The solution allows players who are logged into a Svenska Spel VLT to transfer money directly from their bank account through the Swedish mobile payment system Swish, with remaining funds at the end of a gaming session available for instant transfer back to the players bank account.

“Launching IGT's cashless product provides our players with a reliable, cutting-edge cashless solution that connects directly with the Swish mobile app, helping us drive efficiencies while responsibly advancing the player experience,” said Magnus Lannersund, director of VLT Operations at Svenska Spel AB.

“IGT has been instrumental in our enterprise-wide modernization with solutions such as the Quasar VLT, the Intelligen central system, our responsible gaming functions and now through their next-generation IGTPay cashless technology. This retail project was among the first of its kind in Sweden, enabling a retail business owner to return funds to a consumer's bank account via a consumer's mobile app. Svenska Spel is proud to be at the forefront of retail innovation especially when the need for cashless options for the post-COVID-19 era is more crucial than ever.”

Declan Harkin, IGT SVP and chief operating officer International, commented: “Svenska Spel is at the forefront of innovation with IGT's cashless gaming solution. This groundbreaking technology introduces a contemporary consumer experience to land-based gaming in one of the most progressive societies in the world.

“The combination of IGT's Intelligen and IGTPay products builds upon our payment expertise in the digital gaming and lottery segments to create a solution that enables players to enjoy the convenience and security of cashless gaming in retail.”

Shares in International Game Technology plc. (NYSE:IGT) closed up 12.94 per cent at $8.29 per share in New York Wednesday.