IGT reshuffles executives ahead of Everi spinoff merger

Enrico Drago no longer PlayDigital CEO

IGT has reshuffled its C-suite and board of directors as it prepares for its PlayDigital and Global Gaming divisions to spin off and merge with gaming and payments specialist Everi.

Current IGT CEO Vince Sandusky is leaving to take up the same role in the new business. On Thursday, IGT announced that Board Non-Executive Director Marco Drago will be replaced on the board by his son Enrico Drago, who is stepping down from his role as PlayDigital CEO. Those changes will come into effect from April 1 while Drago Sr. will officially leave following IGT’s Annual General Meeting on May 14.

Drago Jr. will be replaced at PlayDigital by Gil Rotem, whose current job as IGT PlayDigital President of iGaming will be expanded to IGT PlayDigital President under Sandusky.

“As Marco Drago prepares to step down from his position on the IGT Board of Directors, I’d like to thank him for his many years of service and his unwavering commitment to driving results and creating value for all IGT stakeholders,” said IGT Executive Chair of the Board Marco Sala.

“Watching and guiding IGT through its evolution from a collection of companies that started with Lottomatica and GTECH growing into a unified global gaming leader has been very gratifying,” said Marco Drago. “We have been fortunate to have a great group of board members and business unit leaders that have helped drive IGT’s growth during this time. I thank them for their contributions and am certain that IGT is positioned for continued growth as we go forward with the bold initiatives we have undertaken.”

Meanwhile, Sala added that Enrico Drago joining the Board and leaving his executive leadership position at IGT “is a natural evolution that supports the company’s vision for its next era of growth and transformation.”

IGT prepares for $6.2B Everi deal

The reshuffle comes ahead of the seismic shift in IGT’s operations.

Last month, the gaming tech provider unveiled an agreement to combine its Global Gaming and PlayDigital businesses with casino technology supplier Everi. The deal, subject to regulatory approval, is set to close by early 2025 and values the combined businesses at $6.2 billion USD ($8.4 billion CAD).

As part of the transaction, IGT will separate its Global Gaming and PlayDigital segments into a taxable spin-off to its shareholders, who are expected to own roughly 54% of the combined company, while Everi stockholders will own roughly 46% of shares.

That will leave IGT’s Global Lottery business, which will change its name and continue trading on the NYSE led by Renato Ascoli as CEO. Global Lottery revenue fell 2.4% year-over-year in 2023 but at $2.5 billion USD ($3.4 billion CAD) was still IGT’s primary revenue source around the world. It also has a sizable Canadian presence and in January struck a deal with Loto-Québec to supply Video Lottery Terminals across La Belle Province.

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