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IGT Announces Six Major Jackpots in June Highlighting Player Wins and Gaming Excellence
New Chairperson Confirmed at IGT
November 20, 2018 Jim Murphy
International Game Technology (IGT) confirmed that Lorenzo Pellicioli is the new Chairperson of the Board. Mr. Pellicioli used to be the Vice Chairperson, but he has been occupying this position since Phil Satre departed in August.
And now, it is official!
Pellicioli has been appointed on a full-time basis. He served as the vice-chair since 2015, and when Satre agreed to Wynn Resorts it was only natural that Pellicioli was elected.
“I am honored to serve as chairperson for IGT and I look forward to working with the directors and senior management to guide continued success in the future,” he said.
One Vacant Spot
Considering that Mr. Pellicioli moved to the role of chairman, someone had to be appointed to be the vice chairman.
And that someone is James McCann, who has been the IGT director since 2015. Furthermore, McCann will from now on be the lead independent director of the business as well. He is currently the chair of the Board’s Nominating and Corporate Governance Committee.
Among the First in US Sports Betting
Earlier in the year, the US Supreme Court has overturned the Professional and Amateur Sports Protection Act also known as PASPA. With such a shocking move, the court raised the ban and sports gambling became legal in the United States.
This happened in May and IGT was one of the first to react!
They targeted Rhode Island as the first state in which they would launch a sports betting business. They were one of 18 companies that issued a request even though Rhode Island expected more parties which were interested.
Even though IGT hoped to kick start sports wagers in Rhode Island, there has been a several month delay because the authorities were in no rush to launch a sportsbook as soon as possible.
Rhode Island is just one of many states that are legalizing sports betting. Some others include Delaware, New Jersey, Pennsylvania, New Mexico, Mississippi…
…and many more are expected to .
DoubleDown Sale
Months after showing the interest in sports betting in the United States, the global leaders in the commercial gaming industry decided to sell DoubleDown.
Once the financial results for the second quarter of 2018 came out it was clear from the start that this social casino subsidiary had a role to play in the revenues of IGT. However, this minor stagnation will not have any negative effects considering that the total year on year-revenue is $1.2 billion.
Change in Politics?
Despite the change in leadership, IGT will continue to follow the same course as they have done in recent years. Lorenzo Pellicioli is the experienced person who has been with the team for a while and it surprises nobody that IGT put its trust in his hands.
Source:
“International Game Technology PLC Appoints Lorenzo Pellicioli as Chairperson, James McCann as Vice Chairperson and Lead Independent Director”, igt.com, November 19th, 2018
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As you’ve said it, little if anything will change. Still, I am wondering about the offer that guy got from Wynn Resort to leave IGT….it must have been heaps of money.