PlayDigital CEO Drago Steps Down Amidst IGT's Leadership Reshuffle

PlayDigital's CEO, Drago, has resigned from his position as part of a series of changes in the management of IGT.

In the gaming world, International Game Technology (IGT) has made big changes to its leadership. Enrico Drago has left his role as CEO of IGT's online branch, PlayDigital. IGT also said it's going to reorganize its business in two areas and plans to join with another company soon.

IGT is changing its top management team.

• Enrico Drago exits as CEO of PlayDigital.
• Vince Sandusky to transition as CEO of the newly merged business.
• Gil Rotem, a former Bet365 executive, takes on an expanded role.
• Enrico Drago remains on board as a non-executive director.
• IGT's board to see the departure of Marco Drago post the annual general meeting.

Drago has decided to resign just as PlayDigital and Global Gaming are about to merge with Everi Holdings Inc, a big company known for gaming and financial services. Once they combine, they will create a new company worth about $6.20 billion, and the CEO of IGT, Vince Sandusky, will become the CEO of this new company.

New Leadership Dynamics

Gil Rotem, previously at Bet365, is now the president of PlayDigital's igaming. Enrico Drago has stepped down but will still offer advice to IGT as a non-executive director and keep his position as vice-chairman at the De Agostini company in Italy. His father, Marco Drago, is leaving IGT's board but believes the company will continue to grow.

Behind the Merger

PlayDigital, Global Gaming, and Everi are combining into one company involved in fintech, gaming, and sports betting. The combined company is expected to make $2.7 billion and have $1 billion in profits for 2024. IGT shareholders will own most of the company at 54% and Everi shareholders will own 46%.

Financial Standing

IGT made more money this year but ended up with a lower profit compared to last year.

• Total revenue increased by 2.0% to $4.31 billion.
• Net profit fell by 43.3% to $156 million, down from $275 million the previous year.
• The Global Lottery remained IGT's leading income source, despite a 2.4% decrease.
• Conversely, Global Gaming and PlayDigital both experienced a revenue increase of 9.1%.

The company's adjusted EBITDA hit a record $1.78 billion, showing the business is performing well and has potential for further growth.

Looking Forward

IGT is changing more than just its leaders. After it merges, the company will change its name to International Game Technology Inc. and start trading on the New York Stock Exchange. The Global Lottery section of IGT will get a new name too and Renato Ascoli will lead it as CEO.

IGT is changing its leadership and making strategic changes to stay ahead in the gaming business. These actions show the company's focus on being flexible and continuing to grow. IGT is ready to use its experience in the field to take on new opportunities and keep up with the changing market.

For more detailed information on the merger and future plans, please refer to IGT's official announcements and financial disclosures. IGT's Official Website

The merger should be complete by the end of this year or the beginning of 2025, once it gets the needed approvals from regulators and shareholders. Everyone in the business and gaming sectors is paying attention as IGT moves into a bigger and more creative stage.