Lorenzo Pellicioli Becomes New IGT Chairman

Staff Writer Industry News, IGT 556

International Game Technology (IGT) announced that its board of directors had appointed Lorenzo Pellicioli as a new chairman, effective immediately.

The Board of gaming and lottery services and products provider, voted Pellicioli who had been acting Chairperson since the departure of Phil Satre in August, who had become vice chairman of U.S. based NASDAQ casino and leisure operator Wynn Resorts.

Commenting on his appointment, Mr. Pellicioli said, “I am honored to serve as Chairperson for IGT and I look forward to working with the Directors and senior management to guide continued success in the future.”

An Experienced Asset

Pellicioli worked for the Italian publishing and entertainment conglomerate De Agostini SPA as Chief Executive and then moved on to as IGT’s Vice Chairperson, the position he held for three years.

His former role has been assigned to James McCann. McCann has served on the company’s board since 2015 and will now serve as Vice Chairperson and Lead Independent Director.

IGT recently scooped a five-year deal with Penn Online Entertainment for digital platform and content provisions for the Pennsylvanian market.

Its subsidiary Penn National is to be boosted with IGT Play Digital division supplying its full suite of digital gaming products, whereas the company has most recently entered the Canadian market.

Revenue Drop

IGT’s revenue declined by 5.4% tear-on-year to approximately $1.16 million in the third quarter this year when compared to the same period last year when the amount was $1.22 billion.

Net income was nearly $22.3 million while the total gaming revenue from international markets, excluding North America, and Italy decreased by 23.4% to $98 million due to lower systems revenue.

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