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International Game Technology (IGT) has announced an expansion of its partnership with the Lac Vieux Desert Northern Waters Casino & Resort in Michigan. As of May 16, 2024, IGT's PlaySports Trading Advisory Services will support the casino's sports betting operations. Northern Waters has been using IGT's betting platform and self-service technology since 2021. The new agreement will streamline operations and improve customer experience. Northern Waters will also deploy IGT's PeakBarTop cabinets with Total Gaming software to offer various gaming options. IGT PlaySports was named 'Sportsbook Supplier of the Year' in the 2023 SBC North America Awards and powers over 80 gaming venues in North America.
International Game Technology (IGT) reported a Q1 2024 revenue of $1.07 billion, up 1% YoY, driven by strong Global Lottery performance. Operating income was $256 million, in line with the previous year, but rose to $273 million excluding separation costs. Adjusted EBITDA was $461 million, up 3% when excluding separation costs.
Global Lottery revenue increased by 6% to $661 million, while Gaming & Digital revenue decreased by 7% to $406 million. Net income more than doubled to $128 million, and diluted EPS rose to $0.40 from $0.11. Despite lower cash flow and liquidity, IGT upgraded its 2024 outlook, projecting full-year revenue of $4.4 billion.
Key highlights include a spinoff transaction with Everi Holdings, awards at ICE London 2024, and a new licensing agreement with the Maryland Lottery.
IGT announced a partnership with Holland Casino to upgrade video poker in the Netherlands with 500 PeakBarTop cabinets, making it the largest installation in Europe. The deployment started in 2023 and will enhance player experience with innovative features like Game King™ content and advanced technology.
IGT, a leading technology provider, has signed a five-year contract with the Atlantic Lottery in Canada to implement cloud-based iLottery solutions. The deal includes deploying a remote game server and digital instant games, showcasing IGT's content portfolio and technology capabilities. The partnership aims to enhance player experiences, provide dynamic gaming options, and drive business growth for both parties.
