IGT Thinks They Will Lose The Lawsuit!

IGT & Illegal Gambling Mechanic

IGT & Illegal Gambling

Each state has different rules and legislation regarding gambling. In DoubleDown players can buy tokens and use them to play the slot. Similar situations occurred with other games at the social casino, which was a subsidiary of International Game Technology. Such a way of gambling is illegal in Washington.

That is why the social casino has filed a case against this big slot provider. IGT considers that they have a high chance to lose the lawsuit. Preparing €150m in advance can help the company to cover the compensation and other related payouts.

Does The Loss Of Funds On The Lawsuit Have A Significant Impact On IGT?

Every loss is a loss. But Vince Sadusky, CEO of International Game Technology, mentioned their readiness for such occasions. Due to high demand from players and customers, the company could get high profits over the year.

That revenue backs contracts, which secures the company safe possibilities for further growth regardless of industry changes. IGT continues working on reducing the net debt to €5.72bn and making it even smaller due to further divestments.

Purchasing of iSoftbet

The lawsuit issues couldn’t prevent IGT from buying iSoftBet. That purchase cost €160m in cash. Such an acquisition increased the portfolio of games. And that also helps to conquer new markets. iSoftbet is a high-quality studio, which can create much more new and interesting products. That is very beneficial to IGT's further growth in the iGaming industry.

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Updated: 15.09.2022

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