International Game Technology plc $(IGT)$ has announced that it has successfully secured the Italy Lotto License, extending its management of one of the world's largest lottery contracts through November 2034. The new license involves an elevated investment in upfront fees, reflecting its significant value and potential for digital expansion in Italy. IGT plans to leverage its iLottery success to enhance total revenue and profit potential, with expected internal rates of return in line with its current portfolio. The company has a strong track record of driving lotto wager growth through innovation, with historical lotto wagers showing a compound annual growth rate of 3%. IGT also sees considerable growth potential in the iLottery market, which has experienced a 26% compound annual growth rate over the past five years. The company's innovation pipeline includes new games and solutions to support sustained growth in lotto sales. You can access the full presentation through the link below.