IGT Lottery sells Italian business

IGT Lottery sells Italian business

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IGT Lottery a wholly-owned subsidiary of IGT has signed a definitive agreement to sell its Italian proximity payment business to PostePay for €700m.

Under the agreement, IGT will be selling LIS Holding and indirectly LISPAY. These two wholly-owned subsidiaries conduct IGT’s proximity payment business, which has been the leader in the Italian proximity payments market, offering services through a fully-owned advanced payment technology platform and a network of 54,000 points of sale.

Services offered range from payments services including bill payments and prepaid payment cards to commercial services providing telco and e-vouchers top up and technological solutions including merchant and enterprise services.

“This transaction provides us with an opportunity to monetise IGT’s market leadership in the Italian proximity payment business at an attractive value as we continue to execute our long-term strategy,” said Vince Sadusky, IGT CEO.

“Streamlining our products and solutions portfolio enables us to focus our efforts and resources on our core and strategic assets as we position IGT for industry leadership and increased shareholder value.”

IGT is a global leader in gaming. It is listed on the New York Stock Exchange under the trading symbol “IGT,” and its holding company headquarters are in the United Kingdom, with operating headquarters in Rome, Italy; Las Vegas, Nevada; and Providence, Rhode Island. The Company attracts the industry’s top talent, with approximately 11,000 employees across the globe.

Read aslso the news from HERE.

Gary Campbell