International Game Technology announced on Monday that it is laying off about 700 people, which accounts for 10% of its global workforce, becoming another gambling company to streamline its staff amid macroeconomic headwinds. The IGT CEO stated in an internal memo that the layoffs are "not performance-related" but are part of efforts to "simplify structure, reduce duplication, and increase clarity and speed." In plain terms, the market is too unpredictable, so it's time to slim down and save ourselves. Want to keep up with the latest trends in the global gambling industry? Follow PASA's official website for ongoing updates.
Post-merger repercussions: Structural reorganization following a $6.3 billion deal
IGT recently completed a $6.3 billion merger with Everi Holdings, with the new entity becoming a private company under Apollo Global Management. According to the agreement, IGT's gaming business merged with Everi's financial technology division, while the original IGT lottery division was spun off into the independently listed company, Brightstar Lottery. This complex merger inevitably led to structural adjustments, making the layoffs no surprise. However, it is the latest sign of pressure in the gambling industry—as the first quarter of 2026 approaches its end, macro factors such as tariffs, government shutdowns, stubborn inflation, and the escalating Iran war are impacting the entire sector.
Industry layoff wave: Underdog cuts 20%, Bragg reduces 12%
IGT is not alone. Fantasy sports newcomer Underdog cut 20% of its staff at the end of February, shifting from a state-level framework to a national prediction market. DraftKings also announced a restructuring in February, with analysts estimating a 5% workforce reduction, saving about $30 million annually. Supplier Bragg Gaming cut 12% of its staff in January, aiming to save about 4.5 million euros. The CEO of the Equipment Manufacturers Association pointed out that uncertainty makes it difficult for companies to make long-term strategic decisions—no one knows when stability will return, and decisions made now could be overturned in four months.
Physical casinos lay low, but employment is already sliding
The land-based casino industry has not yet seen large-scale layoffs, but the outlook remains unclear. The UNLV quarterly business confidence index fell to its lowest since the Great Recession in Q4 last year. By the end of 2025, the Las Vegas metropolitan area will have nearly 10,000 fewer jobs compared to December, with a state unemployment rate of 5.2%, slightly above the national average. Several casinos have confirmed layoffs from mid-2024 to mid-2025, including Rio, The Venetian, and Resorts World. Last April, MGM cut concierge services at six of its nine Strip casinos. Want to keep up with the latest trends in the global gambling industry? Follow PASA's official website for ongoing updates.
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This article is from "PASA-Global iGaming Leaders," a gambling industry news channel: https://t.me/pasa_news
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