International Game Technology (IGT), a leading gaming and lottery company, is reportedly considering a sale as the US gambling industry continues to expand. The company, which has a market value of around $4 billion, has been approached by several potential buyers, including private equity firms and other gaming companies.

The potential sale comes at a time when the US gambling industry is experiencing significant growth, particularly in the online and mobile sectors. According to a report by Grand View Research, the global online gambling market is expected to reach $127.3 billion by 2027, with the US market accounting for a significant portion of that growth.

IGT has been a major player in the US gambling industry for decades, providing gaming machines and lottery systems to casinos and lotteries across the country. However, the company has faced challenges in recent years, including declining revenue and increased competition from online and mobile gaming platforms.

In response to these challenges, IGT has been working to diversify its business and expand into new markets. The company has made several acquisitions in recent years, including the purchase of social gaming company DoubleDown Interactive in 2012 and the acquisition of Italian gaming company Lottomatica in 2015.

Despite these efforts, IGT’s revenue has continued to decline, with the company reporting a 13% drop in revenue in the first quarter of 2021 compared to the same period last year. The potential sale of the company could provide a much-needed infusion of cash and allow IGT to focus on its core business areas.

The potential sale of IGT also highlights the growing interest in the US gambling industry from investors and other gaming companies. In recent years, several states have legalized sports betting and online gambling, creating new opportunities for companies looking to enter the market.

However, the US gambling industry is also facing increased scrutiny from regulators and lawmakers. The Department of Justice recently issued a memo stating that all forms of online gambling, including sports betting, are illegal under federal law. This has created uncertainty for companies operating in the industry and could impact the potential sale of IGT.

Despite these challenges, the US gambling industry is expected to continue to grow in the coming years, driven by the expansion of online and mobile gaming platforms. The potential sale of IGT is just one example of the changing landscape of the industry and the opportunities and challenges that lie ahead.