International Game Technology PLC Announces Completion of Sale of Italian B2C Games Business

LONDON, May 11, 2021 / PRNewswire / – International Game Technology PLC (NYSE: IGT) (“IGT“) announced that on May 10, 2021, its wholly-owned subsidiary, IGT Lottery SpA (formerly Lottomatica Holding Srl) (the”Seller“), finalized the sale of 100% of the share capital of Lottomatica Videolot Rete SpA and Lottomatica Scommesse Srl, members of the IGT group that run its Italian B2C gaming machine, sports betting and digital games activities (the”Subsidiaries“), to Gamenet Group SpA, a subsidiary of funds managed by a subsidiary of Apollo Global Management, Inc. (together with its subsidiaries,”Apollo“) (NYSE: APO), world leader in alternative investment management, for a cash purchase price of 950 million euros (of which 725 million euros were paid at closing, of which 100 million euros ‘euros are payable on December 31, 2021, and the remaining € 125 million to be paid on September 30, 2022. IGT will use the funds received at the closing net of approximately € 94 million (representing the total cash held by the subsidiaries ) to pay transaction fees and reduce debt.

Credit Suisse International acted as senior financial advisor to IGT, UBS acted as financial advisor and equity advisor to IGT and its board of directors, and White & Case LLP and NCTM advised IGT. Barclays Bank Ireland Plc., Mediobanca, Paul, Weiss, Rifkind, Wharton & Garrison LLP and the Italian offices of Cleary, Gottlieb, Steen & Hamilton LLP and Latham & Watkins, LLP advised the buyer.

About IGT

IGT (NYSE: IGT) is the global leader in gaming. We provide players with fun and responsible gaming experiences across all regulated channels and segments, from gaming machines and lotteries to sports and digital betting. Leveraging a wealth of compelling content, substantial investments in innovation, player knowledge, operational expertise and cutting-edge technology, our solutions deliver unparalleled gaming experiences that engage gamers. and stimulate growth. We have a well-established local presence and relationships with governments and regulators in over 100 countries around the world, and create value by adhering to the highest standards of service, integrity and accountability. IGT has approximately 11,000 employees. For more information, please visit www.IGT.com.

Caution Regarding Forward-Looking Statements

This press release may contain forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) regarding International Game Technology PLC and its consolidated subsidiaries (the “Company“) and other matters. These statements may discuss objectives, intentions and expectations regarding future plans, trends, events, dividends, results of operations or financial condition, or otherwise, based on current beliefs of the management of the Company. as assumptions made by, and information currently available to, such management. Forward-looking statements may be accompanied by words such as “aim”, “anticipate”, “believe”, “Plan”, “could”, “would”, should, “” must “,” continue “,” estimate “,” expect “,” foresee “,” future “,” direction “,” intend “,” may “,” will “,” possible “,” potential, “” “predict”, “project” or their negative or other variations. These forward-looking statements speak only as of the date on which such statements are made and are subject to various risks and uncertainties, many of which are beyond the control of the company. or more of these risks or uncertainties materialize, or if any of the underlying assumptions prove to be incorrect, actual results may differ materially from those predicted in forward-looking statements and from past results, performance or achievements. Therefore, you should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those of forward-looking statements include (but are not limited to) the factors and risks described in the Company’s Annual Report on Form 20-F for the year ended. December 31, 2020 and other documents filed from time to time with the SEC, which are available on the SEC’s website at www.sec.gov and in the investor relations section of the company’s website at the address www.IGT.com. Except as required by applicable law, the Company assumes no obligation to update these forward-looking statements. You should carefully consider these factors as well as other risks and uncertainties that affect the business of the Company. Nothing in this press release is intended, or should be construed, as a profit forecast or should be construed to mean that the financial performance of International Game Technology PLC for current or future years will necessarily meet or exceed those historical financial data published. performance or International Game Technology PLC, as appropriate. All forward-looking statements contained in this press release are qualified in their entirety by this cautionary statement. All subsequent written or oral forward-looking statements attributable to International Game Technology PLC, or to persons acting on its behalf, are expressly qualified in their entirety by this cautionary statement.

Contacts

Phil O’Shaughnessy, Global Communications, toll-free in the United States /Canada +1 (844) IGT-7452; outside the United States /Canada, +1 (401) 392-7452
Francesco luti, +39 3485475493; for Italian media inquiries
James hurley, Investor Relations, +1 (401) 392-7190

SOURCE International Game Technology PLC

Related links

http://www.igt.com


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