International Game Technology PLC
IGT Signs Licensing Agreement with Maryland Lottery
International Game Technology PLC announced that it has signed a licensing agreement with the Maryland Lottery and Gaming Control Agency (Maryland Lottery) for IGT’s patented Cash Pop draw-based game. The Maryland Lottery expects to launch Cash Pop in May 2024 with four daily drawings at multiple price points from $1 to $10.
“The Maryland Lottery is always excited to launch new draw games, and IGT’s Cash Pop will be a novel addition to our portfolio. We’re confident that the 1 in 15 odds of winning a single ‘Pop’ will resonate with our existing players, and the gameplay is easy to understand, which will help us engage a new generation of players,” Kate Airey, Director of Product Development for the Maryland Lottery and Gaming Control Agency, said.
“This licensing agreement between the Maryland Lottery and IGT for our proprietary Cash Pop game builds upon our strong momentum expanding the reach of this exciting game. Cash Pop has yielded significant sales in jurisdictions where it’s available, and we believe it will enhance Maryland Lottery’s draw game portfolio with its simplistic and flexible gameplay features that players readily embrace,” said Jay Gendron, IGT Chief Operating Officer, Global Lottery.
Cash Pop gives players the ability to strategize their wager and create their own personalized experience every time they play, which has proven to be highly engaging among players where Cash Pop is offered. Players wager one or more numbers from 1 to 15 and then select a wager amount of $1, $2, $5, or $10 per number. The player can also choose how many consecutive games to play. When the wager is placed, the terminal randomly assigns the value of the prize to be won if the number is matched, which produces a “two games in one” aspect to the game. Lotteries can also choose the frequency of the draws according to their needs, but each draw will be a single number from 1 to 15. Cash Pop has proven to be a solid sales producer with average weekly per capita sales of $0.10 across the US in the first quarter of 2023.
Apollo Global Management Inc
Hector Fernandez to Lead Diversified Gaming Solutions Provider as Ceo Following Combination of IGT’s Gaming and Digital Business with Everi
The holding company formed to acquire International Game Technology PLC’s Gaming & Digital Business and Everi Holdings Inc. in connection with the previously announced acquisitions by funds managed by affiliates of Apollo Global Management Inc. (the Apollo Funds) announced that Hector Fernandez will lead the combined enterprise as CEO.
Mr. Fernandez brings a clear track record of success across technology and gaming as well as deep strategic and financial expertise. His diverse experience both inside and outside of the gaming industry is expected to position him well to integrate and lead two highly complementary gaming platforms following the transaction close with a focus on growth, product innovation and content generation. Mr. Fernandez most recently served as CEO of Aristocrat Gaming, Aristocrat Leisure Limited’s global land-based gaming content and technology business. During his tenure, he devised and led a number of strategic initiatives that enabled gains in market share across multiple verticals while delivering strong revenue growth and increased profitability.
Daniel Cohen, Partner at Apollo, said: “We’re thrilled to name Hector Fernandez as the future CEO of the combined enterprise. As we look to position IGT Gaming and Everi as a premier, diversified customer-centric platform at the forefront of innovation in the gaming and fintech industries, Hector brings an impressive track record of successfully scaling operations and strengthening customer relationships while being a champion for strong values. Hector shares our vision to lead this talented global workforce and will foster a people-first culture across the combined enterprise.”
Mr. Fernandez said: “I couldn’t be more excited to be part of this journey with IGT Gaming and Everi. I look forward to partnering with the very talented teams at both companies, as well as the Apollo team leading the transaction.”
Mr. Fernandez will join the combined enterprise by the fourth quarter of 2025 after expiration of a customary non-compete period. Following the transaction close, Nick Khin, President, Global Gaming at IGT, will lead the combined enterprise as Interim CEO until Mr. Fernandez assumes the CEO role.
Following closing, the combined enterprise will be organized into three business units: Gaming, Digital, and FinTech. Upon Mr. Fernandez joining the combined enterprise, Mr. Khin will step into the newly formed role of CEO, Gaming, and will oversee the land-based gaming businesses of the combined enterprise. Gil Rotem, current President of IGT PlayDigital, will serve as CEO, Digital, and Darren Simmons, current Executive Vice President and FinTech Business Leader at Everi, will serve as CEO, FinTech. These appointments expand on the previously announced leadership for the combined enterprise.
Mr. Cohen added: “We’re excited for Nick to take on the additional responsibility of Interim CEO upon closing of the acquisitions and are confident he will succeed in his role of leading the land-based gaming businesses of the combined enterprise once Hector officially joins. Under Nick’s leadership, IGT has meaningfully improved its industry position and continues to release top performing games across channels. We believe his deep understanding of customers and players, as well as his leadership and passion, will help set the foundation for future success. We are also pleased to have leaders of Gil’s and Darren’s caliber from both companies ready to take on key leadership roles in the combined enterprise.”
Mr. Khin commented: “I believe in the tremendous potential of IGT Gaming and Everi as a combined enterprise, and I am honored to serve as Interim CEO once the transactions are completed. I look forward to working alongside Hector, Gil and Darren, and utilizing the opportunities we have in front of us to generate content-rich experiences and deliver unmatched value to our customers.”
International Game Technology PLC announced that its new Powerbucks Blackjack game is now available to online players in multiple jurisdictions in Canada. The theme links to IGT’s Powerbucks omnichannel wide-area progressive (WAP) jackpot prize pool, Canada’s largest jackpot connecting land-based, online and mobile games.
“IGT is excited to build on its omnichannel jackpot leadership in Canada and the success of our Powerbucks portfolio by delivering a new evolution of one of the most popular casino card games. Designed to deliver the ultimate gaming experience, IGT’s Powerbucks Blackjack offers players the opportunity to win life-changing jackpots and provides operators with another compelling content option to help drive strong performance results,” said David Flinn, IGT SVP Canada, EMEA, and LATAM Gaming Sales.
Bringing a player-favorite card game to a new level, IGT’s Powerbucks Blackjack offers a state-of-the-art user interface with vibrant animations, language localization, and a sleek design for an engaging experience.
Launched in 2016, IGT Powerbucks slots is the world’s first omnichannel WAP game that links the jackpot prize pool between gaming machines found in land-based casinos with digital-based games in Canada. Since their debut, Powerbucks slots have paid over 50 jackpots of 1 million dollars or more across the country.
International Game Technology PLC has announced that it has launched its first wide-area progressive (WAP) compatible game in Colombia with the all-new Condor Link. Players across the country now have the opportunity to spin for large-scale WAP jackpots at nine properties operated by Winner Group Cirsa, one of Colombia’s largest gaming operators.
Delivering a highly engaging entertainment experience to the gaming floor, IGT’s Condor Link game features four jackpot levels and a reset value of 75,000,000 Colombian Pesos (COP). Condor Link features two compelling base games, Edición Guerrero and Edición Guerrera, and is available on IGT’s versatile PeakSlant32 cabinet, featuring three high-definition displays and a large dynamic player panel.
“Deploying our first WAP-compatible game in Colombia reflects IGT’s commitment to differentiating our roadmap for Latin America and providing our customers with new market-attuned themes and jackpot solutions that can help operators diversify their gaming floors. We are excited to partner with Winner Group Cirsa to introduce Condor Link and bring the excitement of IGT’s compelling jackpot content to players throughout the country,” said David Flinn, IGT SVP Sales, Canada, EMEA, and LATAM.
IGT’s Condor Link is a 50-payline, 50-credit cost-to-cover game featuring vibrant warrior-inspired graphics and integrates popular gameplay features and mechanics like free games, stacked wilds, and an entertaining hold and spin bonus. Condor Link will be available at nine Winner Group Cirsa properties in cities across Colombia, including Armenia, Barranquilla, Bogotá, Cali, and Medellín, and joins IGT’s portfolio of high-performing multi-level progressive themes like the award-winning Prosperity Link, Mystery of the Lamp, and Magic Treasures games.
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