Online casino software specialist IGT has expanded their portfolio with the £137 million capture of iSoftBet.
Originally revealed back in April, the takeover has passed all necessary due diligence and regulatory checks, and so the iGaming giant is free to incorporate the European slot game developer.
They have handed over €160 million in cash reserves for the privilege, and will benefit from being able to offer more than 100 new games – taking their tally to 225 in total – to their network of partners courtesy of iSoftBet’s creative team.
Speaking about the potential deal back in April when initial terms were agreed, Vince Sadusky – the CEO of IGT – said:
“The acquisition of iSoftBet will provide market-tested proprietary digital content, advanced game aggregation capabilities, scalable promotional tools, analytics and strong creative talent to IGT’s PlayDigital operations.
“This will enhance PlayDigital’s competitive capabilities with a proven, complementary content portfolio across Europe and North America, as we provide best-in-class games and technology to our fast-growing iGaming customers.”
A Match Made in Heaven
They say that good things often come in threes.
To that end, April was a month to remember for IGT, who first announced their acquisition of iSoftBet at the start of the second quarter of the year.
They then got the kind of publicity that casino suppliers can only dream about – one of their progressive slot games paid out a record jackpot. Siberian Storm, part of the Mega Jackpots series, coughed up more than £1.7 million to one lucky devil playing it via Sky Vegas. That smashed the firm’s previous record, £1.4 million, set by Isle O’Plenty back in 2019.
And then, just days later, the firm was at The Casino Awards in London, where they notched four wins. Designed to recognise gaming operators and suppliers ‘for excellence across Europe’, the judges picked IGT for victory in the Best Slot Game (Regal Riches), Best Slot Machine (PeakSlant32), Best New Innovative Product and Best Diversity and Inclusion Employer categories.
IGT offer their own collection of in-house designed games, and have extended their supply chain of third party games with the acquisition of a number of smaller, independent studios. They also provide a range of backend software and user engagement tools to some of the best online casinos around too.
They have extended their reach into a number of regions around the world, with more than 100 individual countries served by the firm, and they have inked some big money supply deals as well – IGT will supply the Kansas Lottery with electronic gaming services for the next decade after penning an agreement with state gambling chiefs back in June.
They will benefit greatly from the purchase of iSoftBet, who Sadusky described as a ‘complimentary’ partner when surmising the reasons for the buyout. They have been around since 2010, and like IGT they produce their own in-house slots and table games while compiling a canon of third party suppliers via their aggregation platform.
They have more than 260 casinos and gaming sites on their books, so the chances are you have sampled their games already at some point – after all, their third party network gives them more than 4,600 titles to choose from.