IGT entered into a multi-year sports wagering technology and services agreement with Hipodromo de Agua Caliente S.A. de C.V. and Distribuidora Internacional de Equipos de Juego, expanding the IGT PlaySports platform in Mexico and Latin America through Corporación Caliente.
Key takeaways
- IGT PlaySports will power 42 Caliente sportsbooks in Mexico and expand to eight other Latin American countries.
- The phased rollout could bring IGT technology to more than 100 additional venues in the region.
- The partnership with Caliente follows IGT's recent technology extension with Boyd Gaming in Nevada.
Under the deal, 42 Caliente sportsbooks in Mexico will use the IGT PlaySports platform and benefit from its Trading Advisory Services Team. A phased rollout will also let select sportsbook operators across Latin America access the technology, potentially extending its reach to over 100 venues in eight additional countries.
Its first release will occur in Mexico, followed by Antigua, Argentina, Aruba, Brazil, Ecuador, Panama, Paraguay, and Uruguay. Both companies' executives confirmed the agreement's ability to enhance Caliente's betting activities as well as give users the best entertainment experiences.
The Mexican and Latin American launch comes as Mexico’s gambling market is estimated to be worth $40.6 billion by 2030. According to a report Astute Analytica issued, the market is already worth $11.4 billion and is expected to grow at a 15.7% compound annual growth rate.
Increased growth through Boyd Gaming expansion
This newest expansion comes on the heels of IGT's June agreement with Boyd Gaming to continue its sports betting technology relationship in Nevada until August 2028. The deal guarantees IGT's PlaySports platform will continue to drive Boyd's retail and mobile sportsbook businesses in the state, a relationship initially formed back in 2018.
Boyd will also maintain IGT's PlaySports Kiosks at its 10 retail books across the Silver State. It added that the technology enables it to evolve its offering while creating additional value for players and pursuing new opportunities.
In addition to Nevada, IGT PlaySports enables retail sportsbooks Boyd owns in several other states, such as Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Ohio, and Pennsylvania.
Apollo finalizes acquisition of IGT Gaming & Digital and Everi Holdings
In other IGT-related news, in July, asset management group Apollo closed its acquisition of IGT's Gaming & Digital Business and Everi Holdings Inc. for $6.3 billion in cash. This creates a privately held, global leader in gaming, digital, and financial technology solutions, located in Las Vegas.
The new company will operate under the IGT name but will continue to market the Everi brand in specific markets, products, or territories.
The merged company will have three divisions: Gaming, Digital, and FinTech. It plans to emphasize providing holistic content, technology, and financial solutions to drive the player experience. Interim CEO Nick Khin stated the merger enables the enterprise to drive the future of gaming.
Hector Fernandez is set to become CEO in late 2025, and Khin will transition to lead the Gaming division thereafter.
