Wire NORTH AMERICA
IGT to Spin-off and Merge with Everi
International Game Technology is to separate its Global Gaming and PlayDigital businesses by way of a spin-off and merge with Everi Holdings.
At the conclusion of the deal, IGT will change its name and continue to trade on the NYSE under a new ticker symbol
US SUPPLIER NEWS
NEW JERSEY – Gaming Laboratories International (GLI) has made director-level promotions across three of its global locations with Harinder Grewal, Antonio Grida Cucco, and David Jimenez Gracia promoted to Directors of Engineering.
“While each of these leaders makes their own unique and valuable contributions to our team, the one thing that Harinder, Antonio, and David all have in common is ownership. It’s easy to recognize, support and encourage leaders like them, and I applaud their accomplishments and achievements,” said GLI Chief Delivery Officer, Mackenzie Haugh.
US – Clarion Gaming Digital has acquired Global Gaming Business, the purchase including GGB magazine’s annual publications, Casino Style, Tribal Government Gaming and Progressive Products Preview (P3), as well as its online assets including GGB News.
It will extend the digital publishing business’ global reach as the North American market enters a crucial phase, providing clients with access to a significantly bigger audience through its range of marketing services products.
CANADA – Booming Games has acquired a B2B licence from the Alcohol and Gaming Commission (AGCO) of Ontario, Canada, paving the way for entry into North American markets.
Booming Games received official notification of its B2B gaming licence approval from the Alcohol and Gaming Commission (AGCO) on 12 February. The licence authorises the company to distribute its content to licensed gambling operators in Ontario, Canada, openeing the door for players to enjoy popular games such as TNT Bonanza, Cash Pig, Buffalo Hold and Win, and The Wild Wings of Phoenix.
Frederik Niehusen, CCO, expressed enthusiasm for being among the first iGaming providers to secure a complete B2B gaming licence in Canada. “The company's swift market action has granted it a competitive advantage.”
NEVADA – The first Super Bowl to be held in Las Vegas generated Nevada best ever sportsbetting total with $185.6m in bets placed, beating the previous best set in 2022 by over $6m, according to the Nevada Gaming Control Board.
The state's 182 sportsbooks brought in a win of $6.8m. Total bets were up 23 per cent from 2023 with the American Gaming Association estimating a record $23.1bn would be bet on the game across the US. In Nevada there were five bets of $1m or more, with two winning bets on the Chiefs and three losing bets on the 49ers.
P16 WIRE / PULSE / INSIGHT / REPORTS
Under the terms of the agreements, at closing, IGT shareholders are expected to own 54 per cent and Everi stockholders are expected to own 46 per cent of the shares in the combined company. Te transaction has been approved unanimously by all voting members of the IGT Board of Directors and Everi Board of Directors. Te deal values the combined businesses at approximately US$6.2bn.
Marco Sala, IGT Executive Chair of the Board, said: “Tis transaction will combine two robust gaming platforms with complementary capabilities, geographic footprints, and enhanced growth opportunities. It also facilitates the separation of IGT’s Global Gaming and PlayDigital businesses from our Global Lottery business, resulting in a pure play global lottery business. After closing, IGT’s shareholders will continue to own one hundred percent of IGT’s Global Lottery business, which is positioned for long-term success, and will own a majority of a combined company that offers global gaming, digital and fintech.”
Vince Sadusky, IGT CEO, added: “Te combination results in a comprehensive and
US FanDuel Casino purchases BeyondPlay
BeyondPlay has been acquired by FanDuel in a deal that will see BeyondPlay become part of FanDuel Casino, FanDuel’s iGaming brand, with a focus on product development and innovation.
BeyondPlay is a B2B technology venture offering iGaming software that focuses on player engagement. Te company currently provides two flagship products – a Jackpot Management System offering content-agnostic and customisable jackpot campaigns, and a Multiplayer Software that allows multiple users to participate in the same casino game sessions, pool their stakes and share their entertainment experience.
FanDuel Casino has quickly become the number-two iGaming brand in the US, growing its share of the market to 26 per cent in Q4 2023, up five per cent year-on- year.
Karolina Pelc, CEO at BeyondPlay, said: “As a founder, witnessing the journey of our start-up from its humble beginnings to becoming part of the world’s leading online sports betting and iGaming company is an incredibly gratifying experience.
“Tis acquisition validates the hard work and dedication of our team and the vision behind our products. We are excited to join forces with FanDuel Casino to amplify the impact of our technology on a global scale. Tis milestone marks not just the culmination of our tireless efforts, but the beginning of an exciting new chapter.”
Asif Noifeld, Managing Director at FanDuel Casino, said: “Tis acquisition further strengthens FanDuel Casino’s leading customer experience, by adding BeyondPlay’s best-in-class jackpots and multiplayer technology and welcome their experienced team to FanDuel.”
diverse product offering, addressing more aspects of the gaming ecosystem across land- based gaming, iGaming, sports betting, and fintech.”
Michael Rumbolz, Everi Executive Chairman (pictured), said: “We believe this merger combines two highly complementary businesses in a transformational manner, creating a global, land-based and digital gaming, fintech and systems business. We expect the combined company will deliver a comprehensive range of products and services that will engage gaming patrons and drive efficiencies and revenues to our customers.”
Te combination is expected to generate significant long-term value for stockholders of the combined company along many dimensions, including a comprehensive and diverse product portfolio, offering a one-stop-shop offering across land-based gaming, iGaming, sports betting, and fintech. It brings impressive financial scale with projected pro forma 2024 revenue of approximately $2.7bn and projected pro forma 2024 Adjusted EBITDA of approximately $1bn.
Nevada
As part of its property-wide transformation, Green Valley Ranch Resort Spa & Casino had a grand opening of its high limit slots room situated alongside its new table games room that debuted in November.
Te new high-touch offerings are open to the public and provide a luxe gaming experience for both locals and guests to enjoy. Te newly expanded high limit slots room features 127 of the latest games, an elegant bar with 14 bartop games, a dedicated cage for personalised service and a bright new airy vibe.
A led-lit archway leads guests to the marble-clad bar and lofted coffered ceilings and brass accents offer an elevated touch. Te new room debuted on Friday, February 16 is located adjacent to Drop Bar. Te renovated and expanded upscale high limit table games has 10 tables available.
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