Shares of International Game Technology (NYSE: IGT) were rising 6.5% higher heading into midday trading Monday, after the gaming company announced it was selling its Italian business-to-consumer gaming machine, sports betting, and digital gaming businesses to Apollo Global Management for $1.15 billion.
IGT, which provides gaming experiences in physical and digital form, whether it's gaming machines, lotteries, or sports betting, is planning on focusing on the business-to-business segment of the market that it knows especially well.
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Why International Game Technology Is Jumping Higher Today