IGT Buys iSoftBet for €160m to Expand Its iGaming Presence

In April 2022, the IGT board notified investors about the new deal worth €160 million cash to acquire iSoftBet and ‘more than double the IGT PlayDigital content library to approximately 225 proprietary games’ thanks to the top-tier software the supplier owns.

In addition to the software, the company is also going to acquire iSoftBet’s proprietary-built aggregation platform, which serves as a distributor to deliver third-party games to partnering operators. This will include all tools, including promotional and engagement ones.

The previous deal of this kind took place in 2014 when the former GTECH unit acquired Probability Inc, a mobile games supplier, for £20 million.

FY2021 results state that IGT had secured €950 million in net-cash profits due to the divestment of its Lottomatica Italian gambling subsidiary to Gamenet Group. For now, the company changes its course, which is connected with the new leadership of Group Chief Executive Vince Sadusky.

Actually, it’s the first Vince’s transaction in his role as the IGT CEO. To comment on this event, he said:

The acquisition of iSoftBet will provide market-tested proprietary digital content, advanced game aggregation capabilities, scalable promotional tools, analytics and strong creative talent to IGT’s PlayDigital operations.

Sadusky adds that the following deal will ‘enhance PlayDigital’s competitive capabilities’ and the deal will provide the company with more powers to operate in Europe and North America.

As for iSoftBet achievements, the company that was launched in 2010 has not only a big range of stunning games like Cloud Tales and Astro Magic but also a B2B client base of 260+ operators and over 4,600 products delivered by third-party partners thanks to the vendor’s personal aggregation platform.

In total, During FY2021, the generated revenue amount came up to €30 million and EBITDA of €8 million. And the following deal is going to be closed by Q2 2022, incorporating iSoftBet’s 350 employees who work across 20 European jurisdictions.