International Game Technology (IGT) CEO Vincent Sadusky said the market is always open “for assets that are high quality” when asked Tuesday about a potential sale of the company’s slot machine division and digital gaming operations.
But there was not much news to report following an announcement in June that IGT was “evaluating strategic alternatives” for the two businesses.
IGT, which is headquartered in Italy but maintains a small corporate office in Las Vegas and a manufacturing facility in Reno, may be looking to focus on its worldwide lottery division and cut loose the gaming operations, which include its sports betting platform.
IGT generates more than 64 percent of its revenue from its worldwide lottery business. In 2015, lottery giant GTECH acquired casino-centric IGT in a $6.4 billion buyout with the combined company taking on the IGT name.
“There’s not a lot of high-quality assets in the marketplace and the capital markets are open,” Sadusky said in response to an analyst question on IGT’s third-quarter conference call.
Sadusky said IGT has strong feelings toward the value of the slot machine business.
“We’ll go through the process and make a determination ultimately as to what we think is the best alternative for our sole goal, which is to maximize shareholder value,” he said.
