IGT PlaySports Technology to Continue Powering Retail and Mobile Sports Betting in Rhode Island Through 2028

Rhea-AI Summary

IGT (NYSE:IGT) signed a two-year contract extension with the Rhode Island Lottery to continue powering statewide retail and mobile sports betting through at least November 2028 using IGT PlaySports technology. The extension continues a partnership involving IGT PlaySports, Caesars Sportsbook and the Rhode Island Lottery that began in 2018 and aims to support state revenue and the Sportsbook Rhode Island app.

Key Figures

Contract term Two-year extension Rhode Island Lottery sports betting contract through November 2028

Sports betting start Since 2018 Retail and mobile sports betting partnership in Rhode Island

Lazard ownership 13,710,118 shares (6.8%) Schedule 13G/A filed by Lazard Asset Management LLC

Sole voting power 13,664,689 shares Disclosed in Lazard Schedule 13G/A

Capital return $1.1 billion Post-divestiture capital return to shareholders

Special dividend $3.00 per share Cash dividend as part of $1.1 billion capital return

Share repurchase $500 million authorization Post-divestiture buyback program

Debt reduction $2.0 billion Mandatory debt repayment following Gaming & Digital sale

Market Reality Check

$16.29 Last Close

Volume Volume 3,542,124 is 1.94x the 20-day average of 1,826,159, indicating elevated interest before this announcement. high

Technical Shares traded at 16.29, below the 200-day MA of 17.83 and 32.49% under the 52-week high of 24.13.

Peers on Argus

No peers in the listed industry appeared in the momentum scanner and no same-day peer headlines were provided, suggesting the move was company-specific rather than sector-driven.

Market Pulse Summary

This announcement extends IGT PlaySports’ role in powering Rhode Island’s retail and mobile sports betting through at least November 2028, reinforcing a relationship that has been in place since 2018. In parallel, recent filings describe sizeable capital returns, including a $3.00 per-share special dividend, a $500 million buyback, and $2.0 billion of debt reduction. Investors may watch how sustained lottery and sports-betting performance supports this streamlined, lottery-focused strategy over time.

Key Terms

sports betting technical

"to continue powering statewide retail and mobile sports betting in Rhode Island"

Sports betting is wagering money on the outcome of athletic events, where bettors place stakes on results like which team wins, point margins, or individual performances—think of it like placing a bet on a race but for games. Investors watch this market because changes in laws, consumer habits, technology, and competition directly affect the revenue, growth prospects, and legal risk of companies that operate sportsbooks, provide related technology, or process payments.

Schedule 13G/A regulatory

"received an amended Schedule 13G/A from Lazard Asset Management LLC"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Schedule 13D/A regulatory

"[SCHEDULE 13D/A] International Game Technology PLC SEC Filing"

A Schedule 13D/A is an amended disclosure filed with regulators by an investor who already reported owning more than 5% of a company’s shares and needs to update their original filing. Think of it as a public status update that tells markets whether the investor’s ownership, plans, or source of funds have changed; such updates matter because they can signal a push for control, major strategic moves, or increased pressure on management, which can affect stock prices.

Form 6-K regulatory

"has filed a Form 6-K to announce the completion of the sale"

A Form 6-K is a report that companies listed in certain countries file to provide important updates, such as financial results, corporate changes, or other significant information, to regulators and investors. It functions like an official company update or news release, helping investors stay informed about developments that could affect their investment decisions.

senior secured notes financial

"redemption of senior secured notes and repayment of revolving credit facilities"

Senior secured notes are loans a company sells to investors that are backed by specific assets and given first priority for repayment if the company defaults. Because they have a claim on collateral and are paid before other debts, they usually offer lower risk and correspondingly lower interest than unsecured debt; investors use them to judge how safe repayment and recovery of principal might be, like holding a mortgage instead of an unsecured credit card balance.

revolving credit facilities financial

"redemption of senior secured notes and repayment of revolving credit facilities"

A revolving credit facility is a bank-backed borrowing arrangement that lets a company draw, repay and redraw funds up to an agreed limit, much like a business credit card. It matters to investors because it provides flexible short-term cash for operations, growth or emergencies without issuing new shares; the size, cost and attached conditions affect a company’s financial health, liquidity and risk profile.

share-repurchase authorization financial

"and a $500 million share-repurchase authorization"

A share-repurchase authorization is permission from a company’s board to buy back its own shares from the market up to a set amount. For investors, buybacks can reduce the number of shares outstanding—like a theater removing seats—so each remaining share represents a slightly larger claim on profits and assets, potentially lifting per-share metrics; they also signal how management chooses to use cash instead of investing or paying dividends.

AI-generated analysis. Not financial advice.

IGT signs multi-year sports betting contract extension with Rhode Island Lottery

LAS VEGAS, Jan. 7, 2026 /PRNewswire/ -- IGT announced today that it signed a two-year contract extension with the Rhode Island Lottery to continue powering statewide retail and mobile sports betting in Rhode Island through at least November 2028 via IGT PlaySports technology.

"IGT is very pleased to continue our long-term relationship with the Rhode Island Lottery through 2028 and help generate important revenue for the State through its sports betting operations powered by PlaySports technology," said Joe Bertolone, IGT SVP Sports Betting. "IGT PlaySports continues to invest in the Sportsbook Rhode Island app to ensure the Lottery is offering a premier betting product that makes a positive impact on the State's commitments to good causes."

IGT PlaySports, Caesars Sportsbook and the Rhode Island Lottery have teamed up to offer retail and mobile sports betting since 2018. For more information, visit IGT.com, or follow IGT PlaySports on LinkedIn.

About IGT
IGT is a leading global provider of gaming, digital and financial technology solutions, formed through the combination of International Game Technology PLC's Gaming & Digital Business and Everi Holdings Inc. IGT's offering spans gaming machines, game content and systems, iGaming, sports betting, cash access, loyalty and player engagement solutions, enabling it to deliver integrated, customer-centric experiences across land-based and digital environments. Organized into Gaming, Digital and FinTech business units, IGT drives innovation, efficiency and value for casino, digital and hospitality operators worldwide. The company is headquartered in Las Vegas.

Contact:
Phil O'Shaughnessy, Global Communications, toll free in U.S./Canada +1 (844) IGT-7452; outside U.S./Canada +1 (775) 448-0257

© 2026 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 IGT

FAQ

What did IGT announce about its Rhode Island sports betting agreement on January 7, 2026?

IGT announced a two-year contract extension to power retail and mobile sports betting in Rhode Island through at least November 2028 using IGT PlaySports technology.

How long will IGT PlaySports power Rhode Island sports betting under the new IGT (IGT) deal?

The contract extension runs for two years and maintains PlaySports technology support through at least November 2028.

Which partners are involved with IGT in Rhode Island sports betting since 2018?

IGT PlaySports, Caesars Sportsbook and the Rhode Island Lottery have partnered to offer retail and mobile sports betting in Rhode Island since 2018.

What product will continue to be supported under IGT's extension with the Rhode Island Lottery?

The extension continues support for the Sportsbook Rhode Island mobile app and statewide retail sports betting powered by IGT PlaySports.

Where can investors find more information about IGT PlaySports and the Rhode Island agreement?

More information is available at IGT's corporate site and IGT PlaySports' LinkedIn presence as noted by the company.