IGT Announces Shake-Up of Executive Team

A video poker machine displays a $4,040 jackpot. Ethan Miller/Getty Images/AFP.

Leading online casino supplier International Game Technology has announced a series of changes to its board.

IGT chair Lorenzo Pellicioli is retiring after more than three years in the role. He will remain on the board as a non-executive director.

Chief executive Marco Sala is taking over as executive chair of the board, while Vincent Sadusky has become the company’s new CEO.

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IGT is the leading supplier to online casinos in the United States, including BetMGM, DraftKings and FanDuel. It supplies a wealth of popular table games, video poker games and iconic slots such as the Cleopatra series and the Wheel of Fortune jackpot series, which has minted more than 1,100 millionaires and awarded over $3.3 billion in jackpots.

A Natural Evolution

Pellicioli also served as the CEO of the Italian investment conglomerate of De Agostini SPA, the majority shareholder of IGT. He is ending his 16-year tenure at the firm.

Sala has been nominated to succeed Pellicioli in both roles. Pellicioli called the transition a “natural evolution.”

“During his 19-years at IGT and its predecessor companies, he has a proven track record of success and has earned the trust and respect of IGT’s customers, investors, business partners and regulators,” said Pellicioli.

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“As executive chair, Marco will focus on managing the board, corporate governance, including sustainability initiatives, and guiding the strategic direction of IGT.”

Sadusky is the former CEO at Univision Latino America. He has worked as a corporate advisor to the group since 2009, and he has served on the board since 2010.

“IGT is well-positioned for the future, and I am very excited to join the company as its next CEO,” said Sadusky. “With a seasoned executive team and very talented group of employees across the world, it represents a great opportunity for me to support an industry leader in the next phase of its growth.”

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Sala added: “I believe our skills and experiences are complementary and will serve our stakeholders well. In particular, Vince’s vast experience with portfolio companies and capital markets will be valuable as we look to execute on our strategy.”

Maria Pinelli and Ashley Hunter have joined the board of directors to bolster the leadership team at IGT.

IGT Secures Approval in Nevada

It has been a busy week for IGT, which was founded in Nevada and is now headquartered in London.

The company gained approval in Nevada for its cashless wallet, which has the potential to transform the way gambling accounts are funded in the Silver State.

It will allow casino players in the state to fund their accounts via their mobile devices as opposed to visiting the casino cage, which is currently a requirement.

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“This milestone achievement will allow for players and operators throughout the state to enjoy the many benefits of cashless gaming and reinforces Nevada’s reputation as a future-forward gaming jurisdiction that is committed to advancing the player experience,” said Ryan Reddy, senior vice president at IGT.

IGT also recently signed a multi-year deal with wrestling brand WWE to launched branded lottery and promotional products