Ahad Tariq
2 min read
In This Article:
International Game Technology PLC (NYSE:IGT) announced on Monday, May 19, on its website, that the Judging Commission has recommended LottoItalia (a consortium led by IGT that includes Allwyn, Arianna 2001, and Novomatic Italia) for the Italy Lotto License. The final approval from the Agenzia delle Dogane e dei Monopoli (ADM) is expected within the next 35 days.
A digital kiosk showing the diverse range of sports betting options available.
Marco Sala, Executive Chair of IGT’s Board, emphasized the significance of the concession, stating:
“The Italian Lotto is one of the most prestigious lottery contracts worldwide. IGT and its predecessor companies have successfully managed this license for over 30 years, continuously innovating and integrating cutting-edge technology.”
The consortium's financial proposal includes a €2,230 million upfront license fee, structured across three installments. IGT anticipates payments of €500 million and €300 million in 2025, with the remaining balance to be settled in 2026.
International Game Technology PLC (NYSE:IGT) will retain operational control of the business, while Allwyn Entertainment will remain committed to the consortium, contributing a proportionate share of the license fees and capital expenditures.
IGT CEO, Vince Sadusky, emphasized the strategic importance of this event, stating:
“The €2,230 million upfront investment underscores the immense value of this opportunity, and we are confident that it will drive our revenue and profit growth.”
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