Betting behemoth International Game Technology (IGT) revealed that it is considering a spin-off of its sportsbetting and digital brands, breaking the company into different units.
The move wouldn't be the first for IGT, which recently spun off its lottery and global gaming units. Digital and sportsbetting verticals are both growing, as the activities are being legalized and regulated in new markets around the world, particularly the United States.
IGT would realign the two groups into a separate legal entity. The company thinks that the process could be completed within a yer.
The potential move comes as IGT revealed that for 2022 it expects revenues to fall between $4.1 billion and $4.3 billion with margins between 20-22%. By 2025 the company expects revenues to come in between $4.6 billion and $5 billion.
We're following this story and will be updating readers as we learn more.