IGT’s FY2020 results spotlight PlaySports success

Image Source: IGT

Earlier this month, global gaming giant IGT reported its 2020 full-year results, in which the company revealed that its B2B digital and betting services grew nearly 50% year over year.

Moreover, its PlaySports solution is now deployed in 16 of the 20 US states offering legal sports betting, and the platform processed approximately 7 million bets during the 2021 Super Bowl. 

We are accustomed to seeing these market-leading performance figures from IGT in the gaming and lottery sectors. And now, the multi-national company has firmly planted its stake in the ever-growing US sports betting market.

Meanwhile, the firm continues to expand its strategic partnerships with top-producing B2C franchises such as FanDuel Sportsbook and PointsBet, multi-state operators Boyd Gaming and regional casinos like those operated by Maverick Gaming.

IGT believes its PlaySports platform has the right technology and expertise to get the job done and get its customers into the sports betting game quickly and positioned for success.

On that front, SBC connected with several PlaySports customers to get their take on the company’s 2020 success and gain their perspectives on why they elected to team up with IGT.

First up was Niall Connell, Senior Vice President, General Manager FanDuel Sportsbook. He commented: “When FanDuel Group was formalizing its US expansion strategy, we prioritized partnerships with trusted, forward-thinking companies such as IGT that could enable quick market access via a flexible solution that could scale with FanDuel’s growth opportunities. 

“Given IGT’s vast pedigree in casino gaming, enduring relationships with casino operators and regulators and commitment to exceptional player experiences, we knew IGT would be an ideal partner for FanDuel.”

IGT and FanDuel Group continue to be a winning combination for the US market. By now, the two have companies partnered in launching sports betting in 12 US states, and in 2020 announced a multi-year retail sports betting technology and online casino content agreement for the entire US sports betting and igaming market.

It’s not just mega-sized platform-only deals fueling IGT PlaySports’ success. The company also supports many small to mid-sized sportsbooks throughout the US, many of which leverage the platform’s turnkey services, complete with an in-house trading and risk management team that helps operators maximize the ROI of their PlaySports investment.

Maverick Gaming’s Grand Z Casino, Johnny Z’s Casino and Z Casino in Colorado leverage the turnkey PlaySports solution for their end-to-end sports betting needs.

Justin Beltram, Maverick Gaming COO, commented: “IGT PlaySports continues to help us capture growth opportunities and deliver value to our customers. As a relatively newcomer to the sports betting industry, we have truly benefited from IGT’s vast experience and reliable technology. IGT is far more than just a supplier to Maverick Gaming; they are our trusted sports betting growth partner.”

Any operator looking to establish or grow a sports betting enterprise can benefit from PlaySports technology and services. From the largest, multi-state operators, to lotteries, racetrack and small, regional casinos, IGT PlaySports has proven its skill in navigating complex regulatory environments to get their customers’ program operational. Additionally, it seems as though the flexibility of the PlaySports platform enables them to support all operators in a variety of ways. 

Jenn Saragnese, Delivery Manager at PointsBet, explained more, saying: “No supplier in the US has more experience introducing land-based casino products than IGT. When PointsBet was modeling its US business, we knew we needed a partner such as IGT that could reliably help us in the retail space, and IGT continues to rise to that challenge. 

“Even amid the peak of the COVID-19 pandemic, IGT PlaySports was central to PointsBet’s timely go-live in Illinois, helping us navigate temporary retail closures, while still planning for future retail platform expansion.”

With the second quarter of 2021 underway and an abundance of state-specific pending legislation that would expand sports betting, we are eager to see what the year brings for sports betting category leaders such as IGT. 

Shortly after IGT reported earnings, the company announced that its PlaySports platform was approved in Nevada, yet another clear marker of PlaySports’ commercial momentum in the US and, said the firm, a meaningful differentiator for IGT from its competition. 

Anchored by a Nevada-wide deal with Boyd Gaming, IGT’s PlaySports footprint in Nevada is poised for growth in 2021 and beyond. The company clearly feels confident that it has the right team, technology and regulatory expertise to expand its leadership as new market opportunities evolve. To learn more, click here.