International Game Technology PLC (IGT) has expanded its sports betting footprint in Puerto Rico through a multi-year agreement with Ponce Plaza Hotel & Casino.
The deal involves the implementation of IGT PlaySports technology and services, facilitating the launch of Puerto Rico's inaugural casino brand-led retail and mobile sportsbook, PlayBets by Ponce Plaza.
Ramon Muñoz, General Manager of Ponce Plaza Hotel & Casino, said: "Ponce Plaza Hotel & Casino has been serving the local community since 2008 and we could not be prouder to be the first casino operator in Puerto Rico to run and operate its own sportsbook and to give sports fans an amazing betting experience backed by a local operator who they know and trust."
Joe Asher, IGT President of Sports Betting, discussed the potential of sports betting as a valuable tool for player acquisition and to improve the overall guest experience at Ponce Plaza Hotel & Casino. The move aims to position Ponce Plaza as the first casino operator in Puerto Rico to independently operate its sportsbook, catering to local sports enthusiasts.
Last month, IGT reported its Q3 2023 results, indicating $1.06bn in revenue, consistent with the previous year and quarters. Global lottery contributed $601m, reflecting a 4% decrease year-on-year, while global gaming increased by 8% to $409m.
The extension of IGT's lottery contract with the California Lottery and a 10-year contract extension with the Kentucky Lottery Corporation were notable achievements during this period. Despite a drop in earnings per share, IGT is still on target to achieve its near and medium-term goals, leveraging its market assets.
