Connect with us

Latest News

IGT Announces Executive and Board Leadership Changes

Published

on

Reading Time: 5 minutes

 

International Game Technology PLC announced that on January 14, 2022 its board of directors implemented a number of changes to the Company’s executive team and board.

Lorenzo Pellicioli will retire as chairperson of the IGT Board of Directors and will remain a non-executive director. Marco Sala, currently CEO of IGT, will become executive chair of the board. Vincent Sadusky will become CEO and executive director of the board. These changes will be effective January 24, 2022.

In a separate release today, B&D Holding S.p.A., the controlling shareholder of De Agostini S.p.A., announced that Marco Sala will be proposed at the June 2022 meeting of the corporate bodies of De Agostini as the next CEO of De Agostini, succeeding Lorenzo Pellicioli, who is retiring from the position.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“The changes to the IGT executive team and board are an important step in positioning the Company for the next phase of its evolution. The actions further strengthen IGT’s capabilities to execute on its long-term strategy and the value creation initiatives identified in the Company’s recent investor day. It is a natural evolution for Marco to lead the IGT board. More importantly, during his 19-years at IGT and its predecessor companies, he has a proven track record of success and has earned the trust and respect of IGT’s customers, investors, business partners and regulators. As executive chair, Marco will focus on managing the board, corporate governance, including sustainability initiatives, and guiding the strategic direction of IGT. 

“Likewise, we are delighted to announce that Vince Sadusky, a seasoned executive, long-time member of the current IGT board as well as that of its predecessor companies and the former chair of our audit committee will succeed Marco as CEO. Vince brings a unique set of skills to the role, where he combines his knowledge of IGT with his demonstrated ability to create shareholder value with decades in leadership roles in public and private companies in dynamic industries, including digital and media. His transition into the CEO role will be relatively seamless,” said Lorenzo Pellicioli, chairperson of IGT.

“I am looking forward to taking on the new role of executive chair at IGT and to partner with Vince, with whom I have worked extensively over the years, in leading IGT forward. I believe our skills and experiences are complementary and will serve our stakeholders well. In particular, Vince’s vast experience with portfolio companies and capital markets will be valuable as we look to execute on our strategy,” said Marco Sala, CEO of IGT.

“IGT is well-positioned for the future, and I am very excited to join the Company as its next CEO. With a seasoned executive team and very talented group of employees across the world, it represents a great opportunity for me to support an industry leader in the next phase of its growth,” said Vincent Sadusky.

The board of directors also appointed Maria Pinelli and Ashley Hunter as non-executive directors of the board. Ms. Hunter was also appointed to the Company’s Nominating and Corporate Governance Committee and Ms. Pinelli was appointed chair of the Company’s Audit Committee, replacing Vincent Sadusky. These changes were effective January 14, 2022.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“We are delighted to have Maria and Ashley join our board. They both bring deep and diverse professional experiences to IGT to enhance our board composition. We are looking forward to their contributions,” said Lorenzo Pellicioli, chairperson of IGT.

Executive & Director Biographies

Lorenzo Pellicioli served as chairperson of the IGT Board of Directors from November, 2018 to January, 2022 after serving as vice-chairperson since April 2015. From August 2006 to April 2015, he was chairperson of the GTECH S.p.A. (formerly Lottomatica Group) Board of Directors. He has served as CEO of De Agostini S.p.A. since November 2005. He has also served as a director of IDeA Alternative Investments S.p.A. and as managing director of DeA Factor S.p.A. Mr. Pellicioli serves as chairman of the board of directors of DeA Capital, as a director of Banijay Group SAS and LDH SAS, and he is also a member of the compensation committee and of the appointments and corporate governance committee and director of the board of directors of Assicurazioni Generali.

Marco Sala was CEO of IGT from April, 2015 to January, 2022. In addition to serving on the board of directors for IGT in his role as CEO, in May 2020 he was appointed to the board of directors for De Agostini S.p.A. Prior to April 2015, he served as CEO of GTECH S.p.A. (formerly Lottomatica Group) since April 2009 and was responsible for overseeing all of the Company’s segments including the Americas, international, Italy, and products and services. He joined the Company as co-general manager in 2003 and has since served as a member of the board of directors. In August 2006, he was appointed managing director with responsibility for the Company’s Italian operations and other European activities. Previously, he was CEO of Buffetti, Italy’s leading office equipment and supply retail chain. Prior to Buffetti, Sala served as head of the business directories division for SEAT Pagine Gialle. Earlier in his career, he worked at Magneti Marelli (a Fiat Group company) and Kraft Foods.

Vincent Sadusky was CEO and board member of Univision Communications from 2018 to 2020, the largest Hispanic media company in the US, operating multiple broadcast and cable networks, local TV and radio stations, digital video and audio streaming. Prior to Univision, he was CEO and board member from 2014 to 2017 of Media General, a local TV station and digital media company with more than 50 TV stations and 5,000 employees. From 2006 to 2014, he was CEO and board member of LIN Media, a local TV station broadcaster and digital media company. He also served as CFO of LIN Media from 2004 to 2006 and was CFO of Telemundo Communications from 1999 to 2004. In addition to serving on the IGT board of directors since 2010 and most recently chairing its audit committee, Sadusky has served on the boards of the Paley Center for Media, the National Association of Broadcasters and was the treasurer for the NBC Affiliates Board. Earlier in his career, he worked at Ernst & Young, and co-founded JVB Financial Group and Zeus Financial, fixed-income securities trading firms.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Maria Pinelli is a global C-suite executive who currently serves as a member of the board of directors for Globant and board director and chair of the audit committee for Archer Aviation, Inc. and Clarim Acquisition Corp. She served in a variety of leadership roles at EY from October, 1986 to November, 2020, including consumer products and retail leader, global vice chair – strategic growth markets, global IPO leader, and Americas leader – strategic growth markets. In her role as an advisor at EY, she successfully led more than 20 IPOs in four different countries and more than 25 M&A transactions worldwide. Her experience includes strategic transactions and due diligence advice, Sarbanes-Oxley implementation and stakeholder management. She has served as an advisor to some of the world’s most iconic e-commerce, consumer products, and retail brands.

Ashley Hunter has been a lecturer at the University of Texas at Austin School of Information since 2015, and is the founding partner of A. Hunter & Company, a leading risk management advisory firm. Previously she was managing director of HM Risk Group LLC where she assisted many startups and corporations with alternative risk transfer schemes and reinsurance placement, globally. Under her leadership, HM Risk Group became a leader in the development of niche insurance products for the sharing and assistive reproductive technology industry. Prior to founding HM Risk Group in 2006, she worked in various claims and underwriting management positions for State Farm Insurance Companies, The Hartford Insurance Company and AIG Insurance Company.

Powered by WPeMatico

Continue Reading
Advertisement

Latest News

BOS sends letter to the SGA about new gambling products

Published

on

bos-sends-letter-to-the-sga-about-new-gambling-products
Reading Time: < 1 minute

 

BOS, The Swedish Trade Association for Online Gambling, has been in dialogue with the SGA, The Swedish Gambling Authority, for almost a year now, about how the Swedish licensed market may offer new gambling products to consumers more quickly and with better regulatory certainty. There is some regulatory uncertainty surrounding new games and the possibility of including them in the Swedish licensed market. BOS believes that it is of great importance that this can happen, not least in competition with the unlicensed gambling market, which does not wait for approval from the SGA but immediately introduces new games as they are created and offered to gambling companies. That speed must also be offered to the legally licensed gambling companies, according to BOS.

“The pace of innovation in the gambling industry is high and it is very important that the licensed gambling market can quickly offer consumers new attractive games. We hope that with our dialogue with the SGA and the letter we are sending them today, we can take a big step in the right direction. We want new attractive gambling products with regulatory certainty to be quickly included in the legal license market”, says Gustaf Hoffstedt, Secretary General BOS.

The post BOS sends letter to the SGA about new gambling products appeared first on European Gaming Industry News.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

Adam Greenblatt Chief Executive Officer of BetMGM

BETMGM 2Q/1H 2025 UPDATE & FY2025 GUIDANCE INCREASE

Published

on

betmgm-2q/1h-2025-update-&-fy2025-guidance-increase

 

BetMGM LLC jointly owned by MGM Resorts International and Entain plc, is  providing an update on its Second Quarter 2025 (“2Q 2025”) and First Half 2025 (“1H 2025”) performance.

  • Strong 2Q and 1H performance as BetMGM’s ongoing strategic execution drives strong and profitable growth
    • 2Q Net Revenue up 36% YoY and EBITDA of $86 million (up $78 million YoY)
    • 1H Net Revenue up 35% YoY and EBITDA of $109 million (up $232 million YoY)
  • Leading iGaming offering and enhanced player engagement delivered 2Q revenues +29% (1H +28%) with strong growth in player volumes and activity
  • Strong Online Sports performance with 2Q revenues +56% (1H +61%) driven by refined player marketing and management and strengthened product
  • Upgrade to FY25 guidance and increased confidence in path to $500 million EBITDA in coming years
    • Expect FY25 Net Revenue of at least $2.7 billion and EBITDA of at least $150 million1

Adam Greenblatt, Chief Executive Officer of BetMGM, commented: “BetMGM has seen a strong first half of the year, delivering significant revenue and EBITDA growth that is underpinned by the ongoing execution of our strategic plan. The momentum we have built since the second half of 2024 accelerated through the first half of 2025. Our iGaming business continues to deliver new records as we showed why BetMGM is the go-to destination for all players, and in Online Sports, our refined player targeting and management capabilities have driven strong engagement and player KPIs across the board. BetMGM is healthier than it has ever been, a testament to the hard work of our teams and colleagues across the business. Our stronger than expected performance through 1H 2025 positions us well for the rest of the year, reinforcing our confidence in the future and the many opportunities ahead.”

Key Financial Highlights

2Q and 1H 2025 BetMGM Financial Summary1,2,3

$ millions, unless otherwise noted

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

2Q

2025

YoY

Change

1H

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

2025

YoY

Change

1H

2024

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Net Revenue

          iGaming

$449

+29 %

$891

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

+28 %

$695

          Online Sports

$228

+56 %

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

$422

+61 %

$262

Handle4

$3,427

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

+25 %

$7,515

+27 %

$5,914

GGR Hold %

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

9.8 %

+40bps

8.9 %

(10)bps

9.0 %

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

NGR Hold %

6.6 %

+130bps

5.6 %

+120bps

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

4.4 %

           Retail / Other

$16

(5) %

$36

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

(15) %

$42

        Total Net Revenue

$692

+36 %

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

$1,349

+35 %

$999

Contribution

$191

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

+$88

$307

+$241

$66

EBITDA

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

$86

+$78

$109

+$232

($123)

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Average Monthly Actives (thousands)5

901

+7 %

984

+6 %

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

926

2Q/1H Financial Highlights 

  • 1H Net Revenue of $1.35 billion, +35% YoY delivering 1H EBITDA of $109 million (up $232 million YoY)
  • 2Q Net Revenue of $692 million, +36% YoY with continuing momentum and strong underlying growth
    • iGaming Net Revenue of $449 million, +29% YoY, driven by leading offering with exclusive content, differentiated engagement tools and enhanced player management
    • Online Sports Net Revenue of $228 million, +56% YoY, reflecting strengthened product and refined engagement
    • Average Monthly Actives +7% YoY
  • 2Q EBITDA of $86 million (up $78 million YoY) underpinned by positive contribution from both iGaming and Online Sports
  • Secured stabilized 14% GGR market share in active markets with iGaming (22%) and Online Sports (8%), further cementing BetMGM’s podium position in the market6,7
  • $150 million revolving credit facility remains undrawn with no further capital from parent companies expected

Operational highlights

  • Market leading iGaming offering
    • Continued investment behind leading iGaming business to acquire and retain a broader pool of players at attractive payback periods
    • Strong player volumes and engagement KPIs underpin 1H outperformance
      • 1H Average Monthly Actives +38% and Active Player Days each month +34%8
    • Attractive player economics supported by:
      • Exclusive and unparalleled library of content including The Wizard of OzPrice is Right and Family Feud
      • Creative player engagement tools improved active player days and 2025 cohort retention
      • Further investment in live dealer business
      • Improved targeting and showcasing of promotions to cross-sell Online Sports and iGaming players in our multi-product states
  • Strengthened Online Sports product and enhanced player engagement approach
    • Significant growth in Online Sports demonstrates successful brand repositioning, player acquisition and management, alongside ongoing product improvements
    • Focused “premium mass” approach and enhanced CRM delivering a more engaged and higher quality player base
      • 1H Handle per active +34% and NGR per active +70%9
      • 1H Active Player Days +14% with +24% more Bets per active8,9
      • 1H NGR margin improvement of +120 bps YoY
    • Strengthened product with broader offering and parlay capabilities, plus enhanced UX navigation and app speed
  • Unlocking differentiated omnichannel opportunities
    • Growing flywheel benefits from Nevada omnichannel position with launch of flagship app and nationwide digital wallet
      • Improved integration across omnichannel touchpoints supports efficient acquisition and retention funnel offering unique player experiences
      • 30% growth in NV monthly actives in 1H; 4x increase in number of NV actives continuing play in home state in 1H10
    • Omnichannel game titles and differentiated live dealer offering provide BetMGM exclusive experiences
      • c50% of BetMGM’s Top 20 grossing slot titles are omnichannel games, including recently launched titles from The Wizard of Oz franchise11

Outlook

  • BetMGM’s performance in 2Q and 1H 2025 provides increased confidence in the long-term profitability and opportunities for the business
  • Stronger than expected second quarter supports further upgrade to FY25 guidance12:
    • Net Revenue guidance of at least $2.7 billion
    • EBITDA guidance of at least $150 million
  • Secured podium position in a large and growing total addressable market with increasing operating leverage benefits, reinforces our confidence in delivering EBITDA of $500 million in the coming years

The post BETMGM 2Q/1H 2025 UPDATE & FY2025 GUIDANCE INCREASE appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Anna Mackney Head of Regional Sales US at Play’n GO

Play’n GO Announces North American Operator Partnership with Caesars Entertainment

Published

on

play’n-go-announces-north-american-operator-partnership-with-caesars-entertainment

 

Play’n GO, a leading casino entertainment provider, has  announced a new U.S. operator partnership with Caesars Entertainment.  

The partnership brings Play’n GO titles such as Buildin’ Bucks, Piggy Blitz, and Reactoonz online across Caesars Palace Online Casino, Caesars Sportsbook & Casino and Horseshoe Online Casino in Ontario, Michigan, Pennsylvania, New Jersey, and soon in West Virginia.  

This partnership marks another significant milestone in Play’n GO’s growing U.S. footprint, highlighting the company’s commitment to delivering world-class entertainment to players across the country, where it is now licensed in six states.  

Anna Mackney, Head of Regional Sales US at Play’n GO: commented: “The Caesars brand is synonymous with world-class gaming and entertainment in North America, and it’s an exciting time for our business to announce this partnership. Our mutual commitment to high-quality entertainment and responsible gaming makes them the perfect partner for us as we mark this latest milestone on our U.S. journey.”

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Ricardo Cornejo Rivas, Vice President of Online Gaming at Caesars Digital added: “Bringing Play’n GO’s popular titles live on our platforms is a win for our players. We’re committed to continuously making strides in building out our portfolio of titles on our online casino platforms and we’re thankful to bring another great partner like Play’n GO into the fold to make that happen.”

The post Play’n GO Announces North American Operator Partnership with Caesars Entertainment appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania