Global supplier of gaming solutions International Game Technology (IGT) announced today it created a new business segment, comprising of its online casino and sports betting businesses.
Change in Structure
The newly-established dedicated Digital & Betting division will become IGT’s third business segment, alongside Global Lottery and Global Gaming, to report financial results beginning with the third quarter of 2021. IGT outlined its iLottery business will remain under the company’s Global Lottery segment.
The new Digital & Betting segment will be managed by Enrico Drago, who will assume the role of CEO and will report to IGT CEO Marco Sala. The former SVP at PlayDigital will take the new position with immediate effect.
Speaking about the new development, IGT CEO Marco Sala pointed the strong leadership positions IGT had already established across iGaming and sports betting businesses as both verticals continue to grow. Since growth is expected to continue, IGT decided to allocate both verticals in a dedicated segment, Sala explained.
These businesses have become strategically important to IGT as they afford us the opportunity to leverage the global reach and strong customer relationships of our Global Gaming segment. The new structure gives us more flexibility in our product and solutions portfolio and enables better appreciation of the intrinsic value of these activities.”Marco Sala, CEO, IGT
To reflect the new segment disclosure, IGT will provide a recast of its historical financials ahead of the third quarter 2021 earnings call, while IGT’s Investor Day event will take place virtually November 16, 2021, due to increased restrictions and ongoing uncertainty in the public related to coronavirus developments.
Meet Digital & Betting CEO
Digital & Betting CEO Enrico Drago joined IGT in 2014 as chief operating officer for its Italian subsidiary Lottomatica. Prior to joining the gaming technology supplier, Drago served at Inditex Italia, where he was selected via a leadership program for high-potential managers. Prior to Inditex, Drago worked with Puig Beauty and Fashion.
In 2017, Enrico Drago assumed the role of SVP Global Interactive, Sports Betting and Licenses, and, in July 2018, he started serving as SVP of PlayDigital, spearheading a portfolio of fast-growing online gaming and sports betting products, services and platforms.
Since June 2021, Enrico Drago assumed another role as Vice Chairman of De Agostini, a major shareholder at IGT, holding approximately 50.4% of ordinary shares and 64.98% of the voting rights attached to the ordinary shares. His father, Marco Drago, is a member of IGT’s Board of Directors and chairman of De Agostini.