IGT is spinning out its online gambling business and could list part of it next year. The technology provider revealed the plan at an investor day Tuesday in a bid to maximize value from its Digital & Betting business unit.
IGT will establish that division as a separate legal and operating entity over the next 12 months. From there, it will decide whether to list it.
IGT said the new structure would help it attack the “high growth” online gambling industry. That structure includes a dedicated management team. IGT recently hired Joe Asher as President of Sports Betting and former bet365 exec Gil Rotem as President of iGaming.