Shares in International Game Technology increased by six per cent in premarket trading following rumours that private equity firm Apollo Global Management could be considering making an offer for the company’s gaming division.
The division, which is reposnsible for the design and manufacture of slot machines, is reportedly worth $4bn to $5bn, accounting for debt acrrude by the division. Bloomberg
Back in June IGT said it was ‘evaluating strategic alternatives’ for the company’s Global Gaming and PlayDigital segments as it looks to unlock the full value of IGT’s portfolio. It said then that it would look at a range of options including a sale, merger or spin-off, or indeed maintaining ownership of the business itself.