IGT is known for covering all iGaming verticals. And this across all its markets and territories. Where the leading-edge technology provider has a keen eye for spotting substantial investments. And their latest strategic acquisition includes one of the industry’s most liked casino software and games developers, iSoftBet. In other words, a multi-million £ deal will see that iSoftBet effectively adds IGT as its parenting company. But how will this change the future for iSoftBet, and what exactly will IGT get access to with the buy? To answer those questions, we turn to Vince Sadusky, IGT’s CEO. Plus, we will also have a look at some reports and figures from both parties. So, if you like to get the latest information about this acquisition, in particular? We suggest you finish this compact news about IGT’s interest in iSoftBet – all about the IGT iSoftBet acquisition.
Let’s start on the lighter side of things, game titles. At the time of writing, it estimates that IGT, with the iSoftBet acquisition, will fill its content library to the brim. In fact, known numbers say that. IGT will more than double the title-stable. And this is on its PlayDigital platform to roughly 225 proprietary slots and other casino games. Though, following the numbers further down into more specifics, yet in a proximate manner. We know that the provider has 125 games. But also a perhaps, even more, exciting figure of 4,600 third-party suppliers as well. And let’s not forget the experience. Plus the dedicated 350-strong workforce across many office locations.
The disclosed and agreed figure of £134 Million (€160M) puts a premium value and pricetag on iSoftBet’s business value. After all, the fiscal year (2021) disclosed a £25 Million (€30M) revenue generation. Where the earnings before interest, taxes, depreciation, and amortization (EBITDA) came in at £6.7 Million (€8M). Yet, it is hard to put a price tag on experience, market[s] reach, and likability. Ask around; we don’t think you find many players, providers, or operators that can pick apart iSoftBet and its solid reputation. Yet, it all can change with a drop of a hat, depending on IGT’s custodianship. Still, we think no one has to pull the emergency brake any time soon. As IGT built its operation empire on strong value visions, missions, promises, and purposes.
With any acquisitions, many questions usually follow. Yet, IGT’s CEO, Vince Sadusky, managed to fill in most of the gaps and straighten out the bulk of question marks with comments like. “The acquisition of iSoftBet will provide market-tested proprietary digital content. And advanced game aggregation capabilities, scalable promotional tools, and analytics. And strong creative talent to IGT’s PlayDigital operation”. Plus, he was also pretty clear on the whys by adding in part. “This will enhance PlayDigital’s competitive capabilities. With a proven, complementary content portfolio across Europe and North America”.
The deal at hand expects to reach culmination in the 2nd quarter of this year (2022). And the only possible hindrance in its way at this point is that the standard and customary closing conditions are not up to par.
To refresh some players’ and operators’ memory. Remember that iSoftBet has some of the more appreciated titles in their possession. And this includes high-volume spin and played titles like Aztec Gold: Megaways, Gold Digger, and Blackjack: royal pairs. Plus some new and exciting video slots like Van der Wilde and the Outlaws and Hot Spin: hotlink. All their produced content suits both desktop play and on-the-go fun via most handheld devices. Moreover, the reach doesn’t stop just here, as the provider also offers tailor-made and exclusive content as well.
From what we managed to find, not much. Although, the words from iSoftBet are few and sparse. Still, when a deal of this proportion is on the table, the comments usually linger a bit until the money or stakes has changed hands. Although it has to get said, there are extremely few acquisition deals that see sour and backtracking comments after hitting the general industry news media. In fact, we cant remember, on the top of our heads, the last time a deal like this fell apart after the closing conditions were checked. And no one expects different in this deal. Still, let’s hold on to the speculations and instead wait for the facts to come in as Q2 closes. So we guess all that remains to say about IGT acquiring iSoftBet are; let’s wait and see how the dotting of the i’s and crossing of the t’s goes.