RTTNews | May 11, 2021 10:40AM EDT

10:39 Tuesday, May 11, 2021 (RTTNews.com) - Shares of International Game Technology PLC (IGT) are up more than 7% Tuesday morning after the company announced that it has completed the sale of its Italian B2C gaming business on May 10.

The company announced that IGT Lottery S.p.A., a unit of International Game Technology, has completed the sale of 100% stake in its Italian B2C Gaming Businesses, Lottomatica Videolot Rete S.p.A. and Lottomatica Scommesse S.r.l., to Gamenet Group S.p.A., a subsidiary of funds managed by an affiliate of Apollo Global Management, Inc., for 950 million euros in cash.

IGT plans to use the net proceeds from the deal to pay transaction expenses and reduce debt.

IGT, currently at $18.69, has traded in the range of $5.57- $20.30 in the last one year.

Read the original article on RTTNews ( https://www.rttnews.com/3193842/stock-alert-igt-trading-up-7-concludes-sale-of-its-italian-b2c-gaming-business.aspx)

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