IGT acquired iSoftbet

mycasinolawyer
June 3, 2022
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IGT acquired iSoftbet

IGT acquired iSoftbet

€160 million. A perfect deal. A bright future
IGT acquired iSoftbet

The agreement was made in April of 2022 and it’s expected to be finalized during the second quarter of 2022. 

IGT came to an agreement with iSoftbet for the acquirement of the game provider for approximately, €160 million in cash. This will impact positively the company’s content library since it will be increased up to 225 games in addition to providing a world-class, proprietary game aggregation platform to distribute third-party games, and leading data-driven promotional and user-engagement tools.

Oakvale Capital LLP will be the financial advisor to IGT while the role of the legal advisor is given to Wachtell, Lipton, Rosen & Katz (the law firm was founded in 1965 and it specializes in providing advice and expertise on the highest level). On the other side, M. Firon & Co. and Wiggin LLP will be the legal advisor to iSoftbet.

A few words about the history of IGT

IGT (International Game Technology) is a gambling company that creates slot machines. It was founded in 1990 and currently, it’s controlled by De Agostini with a 51% stake.

The company’s headquarters are located in Las Vegas, Rome, London, and Rhode Island

GTech bought IGT in 2014 for the stunning amount of $6.4 billion (4.7 billion in cash) and it was later decided to drop the name and keep IGT.

Lately, the Company expanded to Washington through a multi-year deal with Kalispel’s Tribe Casino, which will be offering retail sportsbooks via IGT’s technology. 

Additionally, the company announced a 6-year partnership deal with Singapore Pools Limited. The agreement includes the allowance to provide its central lottery system to Singapore’s lottery operator.

A few words about iSoftbet

iSoftbet was launched in 2010 in the United Kingdom. Now it has offices around the world, such as Malta, Romania, the UK, the Philippines, and Cyprus. It offers an amazing slot games portfolio and it’s well known by every slots enthusiast.

In 2011 the company entered the Italian market while in 2013 it managed to acquire the Alderney Gaming license. In a short period, iSoftbet acquired one of the most reputable licenses in the world, the UKGC license, and later on the Romania B2B license. In 2014 and 2015 respectively the company entered in Spain market and Belgium market

The company lately holds the MGA B2B license while it has officially entered Sweden and Swiss markets.

iSoftbet’s games portfolio at the time being contains more than 140 slot games and 26 tables such as Roulette tables, blackjack tables, Jacks or Better, and Baccarat!

Frequently Asked Questions

We have gathered the most important questions and tried to give the best answers.

De Agostini owns a 51% share of the Company, making itself the biggest shareholder of the company.

The company’s corporate headquarters are located in London, United Kingdom. The IGT PLC along with its subsidiaries is located in Las Vegas, Nevada, Providence, Rhode Island, and Rome, Italy. 

Yes, it is. The company is licensed by the Malta Gaming Authority, The UK Gambling Commission, Lotteries & Gaming Authority of Belgium, The Hellenic Gaming Commission, SRIJ of Portugal, Spillemyndigheden of Denmark, ONJN of Romania, and the Alderney Gambling Control Commission. 

 

The company was sold in April of 2022 for the crazy amount of €160 million in pure cash! The deal will be finalized in the year 2022. 

Author mycasinolawyer