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International Game Technology Subsidiary Closes Sale of Two Units for $1.15 Billion

05/11/2021 02:15

06:13 AM EDT, 05/11/2021 (MT Newswires) -- International Game Technology (IGT) said Tuesday its wholly-owned subsidiary, IGT Lottery, has completed the sale of two units for a cash purchase price of 950 million euros ($1.15 billion).

The sale of Lottomatica Videolot Rete and Lottomatica Scommesse, part of the group's gaming machine, sports betting, and digital gaming businesses, was to Gamenet Group, which is a subsidiary of funds managed by an affiliate of Apollo Global Management (APO).

Of the total price, 725 million euros was paid at closing of the deal, 100 million euros is payable Dec. 31, and the remaining 125 million euros will be paid Sept. 30, 2022.

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