International Game Technology PLC (IGT) has signed an agreement for the acquisition of iSoftBet, a top-rated iGaming content provider and third-party game aggregator in the industry. The expansion deal is worth €160 million. With this acquisition, the IGT PlayDigital content library will more than double to approximately 225 proprietary games. This will also bolster the casino’s inventory by acquiring a world-class proprietary iSoftBet game aggregation platform for distributing third-party games. IGT will also get access to the developer’s data-led promotional and user engagement tools.
The acquisition is likely to be completed during the second quarter of 2022, and it is subject to the satisfaction of customary closing conditions.
This IGT-iSoftBet deal is the first acquisition that is focused on online casinos since 2014, when GTECH, a former unit, acquired mobile games supplier Probability Inc. for €20 million. It is also the first M&A transaction under the new leadership of Vince Sadusky, Chief Executive of IGT.
Sadusky 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.”
This move will improve PlayDigital’s competitive position in the market as it will have a proven, complementary content portfolio for Europe and North American markets. IGT will be able to offer best-in-class games and technology to its rapidly growing customer base.
The deal is expected to close by the second quarter of 2022, resulting in IGT’s expansion of online casino and game operations.
iSoftBet was launched in 2010 as a game provider and aggregator solution. At present, it has a B2B client base of more than 260 operators and 125 proprietary games. It also has access to more than 4,600 third-party game titles via its aggregation platform. This Malta-based business generated a revenue of approximately €30 million and an EBIDTA of €8 million in FY2021.