IGT Signs Three-Year Sports Betting Contract Extension with Rhode Island Lottery

Rhea-AI Summary

IGT PlaySports technology will continue powering statewide sports betting in Rhode Island through 2026 following a three-year contract extension with the Rhode Island Lottery. This partnership, which began in 2018, has proven successful in generating revenue through mobile sports betting via the Sportsbook Rhode Island app and at casino locations. IGT's PlaySports technology has undergone significant enhancements to remain competitive in the regional market, a move praised by lottery officials. The agreement supports IGT's position as a leading supplier of gaming technology, leveraging a robust platform across over 80 venues in the U.S. and Canada.

Positive

• Contract extension with Rhode Island Lottery till 2026 supports revenue growth.
• Significant upgrades to the sports betting platform enhance user experience.
• IGT maintains a strong market presence with PlaySports deployed at over 80 U.S. and Canadian venues.

Negative

• None.

IGT PlaySports technology will power statewide sports betting in Rhode Island through 2026

LONDON, April 10, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that the Company signed a three-year contract extension with the Rhode Island Lottery to continue providing its proven sports betting technology. IGT PlaySports™, along with its commercial partner William Hill U.S., powers statewide mobile sports betting via the Sportsbook Rhode Island app and sportsbook locations at Bally's Twin River Lincoln Casino Resort and Bally's Tiverton Casino & Hotel.

"As one of the first U.S. lotteries to launch sports betting, Rhode Island Lottery is very pleased with the successful program we have built over the last five years, backed by IGT's world-class technology and William Hill's operator experience," said Mark Furcolo, Rhode Island Lottery Director. "IGT recently invested significant resources to enhance our sports betting platform and mobile app. These upgrades will enable us to maximize revenue and offer a solution that remains competitive among neighboring states in this dynamic, regional sports betting market."

"The Rhode Island Lottery championed sports betting in 2018 as one of the early adopters in the post-PASPA era, and IGT is excited to continue driving Rhode Island's sports betting growth," said Joe Asher, IGT President of Sports Betting. "Rhode Island is home to very loyal sports fans who love following their New England-based teams. The enhancements IGT has made to the Lottery's sports betting platform and app provide fans with a convenient and intuitive player experience and yield strong returns that support the Lottery's commitment to generating revenue for good causes."

In addition to providing its PlaySports technology, IGT is the exclusive supplier of lottery, iLottery, instant ticket and video lottery solutions and services to the Rhode Island Lottery. IGT PlaySports is deployed at more than 80 gaming venues across the U.S. and Canada. To learn more visit IGT.com or follow us on LinkedIn.

About IGT
IGT (NYSE:IGT) is a global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Lotteries and Gaming Machines to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, our solutions deliver unrivaled gaming experiences that engage players and drive growth. We have a well-established local presence and relationships with governments and regulators in more than 100 jurisdictions around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 10,500 employees. For more information, please visit www.igt.com.

Cautionary Statement Regarding Forward-Looking Statements
This news release may contain forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning International Game Technology PLC and its consolidated subsidiaries (the "Company") and other matters. These statements may discuss goals, intentions, and expectations as to future plans, trends, events, dividends, results of operations, or financial condition, or otherwise, based on current beliefs of the management of the Company as well as assumptions made by, and information currently available to, such management. Forward-looking statements may be accompanied by words such as "aim," "anticipate," "believe," "plan," "could," "would," "should," "shall," "continue," "estimate," "expect," "forecast," "future," "guidance," "intend," "may," "will," "possible," "potential," "predict," "project" or the negative or other variations of them. These forward-looking statements speak only as of the date on which such statements are made and are subject to various risks and uncertainties, many of which are outside the Company's control. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may differ materially from those predicted in the forward-looking statements and from past results, performance, or achievements. Therefore, you should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include (but are not limited to) the factors and risks described in the Company's annual report on Form 20-F for the financial year ended December 31, 2022 and other documents filed from time to time with the SEC, which are available on the SEC's website at www.sec.gov and on the investor relations section of the Company's website at www.IGT.com. Except as required under applicable law, the Company does not assume any obligation to update these forward-looking statements. You should carefully consider these factors and other risks and uncertainties that affect the Company's business. All forward-looking statements contained in this news release are qualified in their entirety by this cautionary statement. All subsequent written or oral forward-looking statements attributable to International Game Technology PLC, or persons acting on its behalf, are expressly qualified in their entirety by this cautionary statement.

Contact:
Phil O'Shaughnessy, Global Communications, toll free in U.S./Canada +1 (844) IGT-7452; outside U.S./Canada +1 (401) 392-7452
Francesco Luti, Italian media inquiries, +39 06 5189 9184
James Hurley, Investor Relations, +1 (401) 392-7190

© 2023 IGT

The trademarks and/or service marks used herein are either trademarks or registered trademarks of IGT, its affiliates or its licensors.

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SOURCE International Game Technology PLC

FAQ

What is the significance of IGT's contract extension with the Rhode Island Lottery?

The contract extension allows IGT to continue providing sports betting technology until 2026, supporting ongoing revenue generation for the company.

How has IGT improved its sports betting technology for Rhode Island?

IGT has invested significantly in upgrades to enhance the sports betting platform and mobile app, aiming to stay competitive in the regional market.

What does the contract extension mean for sports betting in Rhode Island?

It ensures the continuation of mobile sports betting services via the Sportsbook Rhode Island app and at physical sportsbook locations, benefiting local sports fans.

How many venues in the U.S. and Canada utilize IGT PlaySports technology?

IGT PlaySports technology is deployed at more than 80 gaming venues across the U.S. and Canada.

What impact does IGT's agreement with the Rhode Island Lottery have on investors?

The continued partnership and enhancements in technology are likely to bolster investor confidence and support potential revenue growth for IGT.