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Worldwide Recreation Know-how PLC Proclaims Completion of Sale of Italian Industrial Cost Enterprise to PostePay S.p.A.

Worldwide Recreation Know-how PLC Proclaims Completion of Sale of Italian Industrial Cost Enterprise to PostePay S.p.A.

LONDON, Sept. 15, 2022 /PRNewswire/ — Worldwide Recreation Know-how PLC ( NYSE:IGT) (“IGT”) immediately introduced that its wholly owned subsidiary IGT Lottery S.p.A. has accomplished the sale of its Italian proximity fee enterprise to PostePay S.p.A. – Patrimonio Destinato IMEL for €700 million.

The negotiated sale value represented an enterprise worth of €630 million and roughly €70 million of internet unrestricted money. The enterprise held roughly €140 million in unrestricted money on the closing. The rise in unrestricted money is primarily attributable to timing of vendor funds and working money flows generated since December 31, 2021. IGT will use the proceeds from the transaction primarily to pay transaction bills and cut back debt.

UBS AG acted as lead monetary advisor and equity opinion supplier to IGT, UniCredit S.p.A. acted as monetary advisor to IGT. Advant-Nctm acted as authorized advisor to IGT and KPMG acted as monetary due diligence and tax advisor to IGT.

About IGT
IGT ( NYSE:IGT) is a world chief in gaming. We ship entertaining and accountable gaming experiences for gamers throughout all channels and controlled segments, from Lotteries and Gaming Machines to Sports activities Betting and Digital. Leveraging a wealth of compelling content material, substantial funding in innovation, participant insights, operational experience, and modern know-how, our options ship unrivalled gaming experiences that have interaction gamers and drive development. We’ve got a well-established native presence and relationships with governments and regulators in additional than 100 international locations world wide, and create worth by adhering to the best requirements of service, integrity, and duty. IGT has roughly 10,500 staff. For extra info, please go to www.IGT.com.

Cautionary Assertion Relating to Ahead-Trying Statements
This information launch could comprise forward-looking statements (together with inside the that means of the Non-public Securities Litigation Reform Act of 1995) regarding IGT and its consolidated subsidiaries (the “Firm“) and different issues. These statements could talk about targets, intentions, and expectations as to future plans, tendencies, occasions, dividends, outcomes of operations, or monetary situation, or in any other case, based mostly on present beliefs of the administration of the Firm in addition to assumptions made by, and data at the moment obtainable to, such administration. Ahead-looking statements could also be accompanied by phrases equivalent to “intention,” “anticipate,” “consider,” “plan,” “might,” “would,” “ought to,” “shall,” “proceed,” “estimate,” “count on,” “forecast,” “future,” “steerage,” “intend,” “could,” “will,” “doable,” “potential,” “predict,” “undertaking” or the unfavorable or different variations of them. These forward-looking statements converse solely as of the date on which such statements are made and are topic to varied dangers and uncertainties, lots of that are outdoors the Firm’s management. Ought to a number of of those dangers or uncertainties materialize, or ought to any of the underlying assumptions show incorrect, precise outcomes could differ materially from these predicted within the forward-looking statements and from previous outcomes, efficiency, or achievements. Due to this fact, you shouldn’t place undue reliance on such statements. Components that would trigger precise outcomes to vary materially from these within the forward-looking statements embrace (however usually are not restricted to) the components and dangers described within the Firm’s annual report on Type 20-F for the monetary yr ended December 31, 2021 and different paperwork filed every now and then with the SEC, which can be found on the SEC’s web site at www.sec.gov and on the investor relations part of the Firm’s web site at www.IGT.com. Besides as required beneath relevant regulation, the Firm doesn’t assume any obligation to replace these forward-looking statements. You must fastidiously contemplate these components and different dangers and uncertainties that have an effect on the Firm’s enterprise. All forward-looking statements contained on this information launch are certified of their entirety by this cautionary assertion. All subsequent written or oral forward-looking statements attributable to Worldwide Recreation Know-how PLC, or individuals appearing on its behalf, are expressly certified of their entirety by this cautionary assertion.

Contacts
Phil O’Shaughnessy, International Communications, toll free in U.S./Canada +1 (844) IGT-7452 and out of doors U.S./Canada +1 (401) 392-7452
Francesco Luti, Italian media inquiries, +39 06 5189 9184
James Hurley, Investor Relations, +1 (401) 392-7190

SOURCE Worldwide Recreation Know-how PLC

Worldwide Recreation Know-how PLC Proclaims Completion of Sale of Italian Industrial Cost Enterprise to PostePay S.p.A.