IGT Grows Sports Betting Footprint in Nevada via Retail and Mobile Sports Betting Agreement with Betfred

IGT has announced a multi-year technology agreement with Betfred to support sports betting in Nevada.

Rhea-AI Summary

IGT has announced a multi-year technology agreement with Betfred to support sports betting in Nevada. This partnership utilizes IGT PlaySports technology for both retail and mobile betting at the Mohegan Sun Sportsbook within Virgin Hotels Las Vegas.

This marks the first IGT-powered Betfred sportsbook in the U.S. and signifies Betfred's entry into the Nevada market. Betfred plans to launch retail betting initially, followed by mobile betting soon after. IGT currently powers over 80 gaming venues across the U.S. and Canada.

Positive

• Expansion of sports betting footprint in Nevada
• First IGT-powered Betfred sportsbook in the U.S.
• Partnership signifies entry into the Nevada betting market
• Plans for future mobile sports betting launch

Negative

• None.

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IGT PlaySports™ technology selected to power Betfred's first sportsbook in Nevada

LONDON, Feb. 13, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that the Company expanded its sports betting footprint in Nevada via a multi-year PlaySports technology agreement with long-time sports betting operator, Betfred. Under the terms of the agreement, Betfred is leveraging IGT PlaySports technology to power retail and mobile sports betting at the Mohegan Sun Sportsbook inside Virgin Hotels Las Vegas, part of Curio Collection by Hilton. This agreement underpins the first IGT-powered Betfred sportsbook in the U.S. and Betfred's entry into the Nevada betting market.

"IGT PlaySports' remarkable reputation and influence in the U.S. sports betting market, coupled with their ability to navigate complex regulatory environments, give Betfred supreme confidence in our choice to partner with IGT in Nevada," said Bryan Bennett, COO of Betfred USA Sports. "IGT PlaySports' experienced, in-market team and proven technology will enable Betfred to scale our operation in parallel with market opportunities and to establish a competitive and engaging betting experience in the most exciting gaming destination in the world."

"I attended the recent Gaming Control Board hearing to see Fred Done in person. He is a legend in bookmaking and Betfred is one of the most legendary brands in the sports betting industry. It's an honor to work with Fred's team in the U.S. as they introduce the Betfred product in Nevada," said Joe Asher, IGT President of Sports Betting. "IGT PlaySports looks forward to applying our vast experience in Nevada and beyond to help Betfred create a successful sportsbook that will appeal to local sports fans and visitors alike."

Betfred will first introduce retail betting, then look to follow-up with a mobile launch in the future. IGT is powering sports betting at more than 80 gaming venues across the U.S. and Canada. For more information visit igt.com/playsports 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 countries 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.

About Betfred USA SPORTS
Betfred USA Sports is the wholly owned U.S. subsidiary of Betfred Group, a Warrington, United Kingdom-based bookmaker that owns and operates over 1,400 betting shops in the UK as well as industry-leading online and mobile products in the UK and South Africa. Betfred Group, founded by brothers Fred and Peter Done in 1967, created Las Vegas-based Betfred USA Sports in 2019 to enter the robust and ever-expanding U.S. sports betting market. Betfred USA Sports is licensed in Iowa, Pennsylvania, Colorado, Louisiana, Arizona, Washington, Maryland, Virginia, Ohio and Nevada.

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, 2021 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, +39 06 5189 9184; for Italian media inquiries
James Hurley, Investor Relations, +1 (401) 392-7190

© 2022 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

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What is the recent agreement between IGT and Betfred?

IGT and Betfred entered a multi-year agreement for IGT's PlaySports technology to power sports betting in Nevada.

Where will the IGT PlaySports technology be implemented?

The technology will be used at the Mohegan Sun Sportsbook inside Virgin Hotels Las Vegas.

When was the IGT and Betfred agreement announced?

The agreement was announced on February 13, 2023.

What is the significance of this agreement for Betfred?

This agreement marks Betfred's first sportsbook in the U.S. and their entry into the Nevada betting market.

What type of sports betting will Betfred initially offer?

Betfred will first introduce retail sports betting, followed by a mobile launch in the future.