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.
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.
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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
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James hurley, Investor Relations, +1 (401) 392-7190
SOURCE International Game Technology PLC