International Game Technology (IGT) said Monday that a Judging Commission will propose to the Italian Customs and Monopolies Agency awarding the Italy Lotto License to LottoItalia, a consortium led by IGT that includes Allwyn, Arianna 2001, and Novomatic Italia.

The consortium's bid includes a 2.23 billion euro ($2.51 billion) upfront license fee, consisting of 500 million euro and 300 million euro installments paid this year, with the remaining balance to be paid in 2026. The new nine-year license will run through November 2034.

The concession rate is set at 6% of total wagers, with an additional 8% gross fee collected through the digital channel as a distributor fee.

IGT said it would retain operational control of the business. The formal award notice is expected within the next 35 days.

IGT shares were 2.7% higher in recent premarket activity.