IGT Management Reshuffle Precedes Everi Merger
Date: 2024-03-23 Author: Dima Zakharov Categories: GAMING
Management Reshuffle at IGT
International Game Technology (IGT) is making waves in its management hierarchy with Enrico Drago stepping down as CEO of its PlayDigital wing. This move coincides with the impending merger of two IGT divisions, PlayDigital and Global Gaming, with gaming and payments expert Everi. Vince Sandusky, the current CEO of IGT, is set to depart to lead this new $6.20bn venture.
Enrico Drago's Transition
Enrico Drago, departing as PlayDigital CEO, will maintain a role as a non-executive director. His position will be succeeded by Gil Rotem, a former Bet365 executive currently serving as IGT PlayDigital president of igaming.
Marco Drago's Departure
Meanwhile, Marco Drago, Enrico Drago's father, will vacate his seat on the IGT board after completing his term. Marco expressed confidence in IGT's trajectory for sustained growth.
Future Prospects
These changes precede the mega-merger involving IGT, Global Gaming, PlayDigital, and Everi. The resulting entity will trade under the name International Game Technology Inc on the New York Stock Exchange, with IGT shareholders holding the majority of shares.
Financial Overview
Despite a revenue increase in 2023, IGT's net profit saw a decline. However, adjusted EBITDA reached a record high, hinting at potential growth avenues amid strategic shifts.
