Conformations of the landmark acquisition of iSoftBet by global leader IGT, formally identified as Gtech and Lottomatica. 2022 marks a year dominated by major power shifts due to acquisitions and mergers that continue to sweep the iGaming arena. Major players are more open to merger suggestions while leading companies show no sign of slowing down high-profile acquisition efforts.
Following hot on the heels of the announcement that Evolution Gaming will acquire NoLimit City. International Game Technology plc (IGT) confirms the acquisition of iSoftbet, a leading igaming provider and third-party game aggregator hosting more than 8,000 titles entered its final stage.
Lead Financial Advisor In Acquisition Of iSoftBet by IGT
The lead financial advisor Oakvale Capital LLP acted on behalf of IGT, with legal advisors Wachtell Lipton Rosen Katz in the acquisition deal worth approximate £160 million in cash while KPMG LLP acted as the financial and tax due diligence advisor. BDO Israel acted on behalf of iSoftBet as independent registered public accounting and tax firm with M. Firon & Co. and Wiggin LLP serving as the legal advisor to iSoftBet.
The acquisition of iSoftBet by IGT more than doubles the world-class gaming experience IGT delivers to players across the globe via slot machines, lotteries, sportsbooks and digital. IGT first mentioned its intent to acquire iSoftBet in April by way of expanding its in-house games and casino solution capabilities.
The acquisition deal is the first to take place under the new Group Executive, Vince Sadusky, tasked with the company’s digital profile redevelopment. Sadusky announced in April that the iSoftBet acquisition provides advanced game aggregation capabilities, market-tested proprietary digital content, scalable promotional tools, strong creative talent and analytics to IGT’s PlayDigital operations.
Proprietary Game Aggregation Platform
The acquisition sees International Game Technology plc more than double its PlayDigital content library upping it to approximately 225 proprietary games. In addition, it enables International Game Technology plc to distribute third-party games due to its newfound advanced game aggregation capabilities.
Third-Party Games Favourably Increase IGT PlayDigital Content Library
The market-tested world-class proprietary game aggregation platform of iSoftbet contains over 150 proprietary titles created and designed to accommodate a broad range of cutting-edge games.
The studio is a game aggregator for approximately 8,000 third-party games by over 80 leading online game providers including Playson, Wazdan, EGT Interactive, Stakelogic, NoLimit City, Hacksaw Gaming, ELK Studios, and Pragmatic Play.
Exceptionally popular titles that are part of the distribute third-party games aggregation platform in the iSoftbet line-up include Hold & Win games, Vegas High Roller and Sheriff in Nottingham. Licensed MegaWays™ slots include Aztec Gold Megaways, Majestic Megaways, Fu Fortune Megaways, Shining King Megaways and Western Gold Megaways.
Self-Developed iSoftBet Branded Games
iSoftBet self-developed games include licensed content created in cooperation with famous film and TV studios, which includes Rambo, Beverly Hills, Paranormal Activity, Hansel and Gretel, and Basic Instinct.
iSoftbet games are both profitable and fun and loved for superb graphics and audio plus a diversified by jackpots and bonuses. Apart from providing an additional one up to two titles monthly, iSoftbet is famed for offering excellent management systems, plus financial and marketing services.
IGT Enhances PlayDigital’s Footprint via ISoftbet Deal
IGT is a well-established leader in iGaming with active collaborations in over 100 states that continues to provide high-quality entertainment value by adhering to the highest standard of responsibility, integrity and service.
The iSoftBet acquisition is one of many interesting twists and turns since 1990 when IGT was established, first known as Lottomatica the company title changed to Gtech in 2006, and become International Game Technology plc in 2015.
More Deal Announcements Confirm IGT’s Focus on Providing A Top-Class Experience
The acquisition of iSoftBet is guaranteed to enhance PlayDigital’s comprehensive casino gaming portfolio and increase its competitive capabilities. The acquisition of iSoftbet will be completed as scheduled in the second quarter of 2022.
International Game Technology Plc also confirmed two additional deals on the 12th of April 2022, which include patent cross-licensing agreements with Atlantic Canada and Aristocrat Leisure Limited.
The collaboration with Atlantic Canada enables IGT to launch high-performing VLT themes in unity with Atlantic Lottery Corporation with upcoming titles Big City 5’s and The Wild Life. The Aristocrat Leisure Limited agreement propels the evolution of gaming by hosting a range of extraordinary gaming content supported by cutting-edge features by the RGS patent.
Leading Third-Party Game Aggregortor & iGaming Content Provider iSoftBet
iSoftBet is a leading igaming content provider utilising its operational expertise to provide its huge base of fast-growing igaming customers with unrivalled gaming experiences. The most recently added partnership with 3 Oaks Gaming adds leading content from studio partners such as Fish Reef Megaways, Magic Apple 2, and Book of Wizards.
2021 iSoftBet Revenue
ISoftBet generated revenue for the 2021 fiscal year of approximately £30 million with an EBITDA of around £8 million. The iSoftBet portfolio features 125 proprietary games and thousands of titles through its proprietary game aggregation platform. The developer’s primary office locations include Romania, Malta, and England, with approximately 350 contractors and employees.
Leading UK iSoftBet Content Providers
iSoftBet is in partnership with around 260 leading igaming operators and offers games certified by 20 European regulators. Top UK slot sites licensed by the UK Gambling Commission featuring iSoftbet content include Slotzo Casino, Casino Lab and other UK online casinos such as Griffon Casinos and Duelz Casino.
Most Recent Software Developer Acquisitions
Evolution Gaming recently confirms its intent to acquire highly-talented software provider NoLimit City. The offer includes an initial sum of €200 million and should all preliminary targets be met, the sale could yield a potential additional price estimated at €140 million, bringing the deal’s total sum to €340 million.
Lady Luck Games Move Forward with ReelNRG Acquisition
In confirmation of its intent to strengthen its position as an independent gaming development studio, Swedish slots creator, Lady Luck Games signed a letter of intent to acquire the British game developer ReelNRG for $873,086 equal to SEK 8.25.
According to the most recent press release both parties agreed on the prize and the Chief Executive Officer for ReelNRG, Calvin Kent, feels confident that the acquisition will provide the support needed to improve delivery and entertainment packages.