IGT Leads New Era in Cashless Gaming with Completion of Nevada Regulatory Approval

Rhea-AI Summary

International Game Technology (IGT) has achieved a significant milestone in cashless gaming by receiving final regulatory approval in Nevada for its Resort Wallet™ carded cashless module. This module, part of the award-winning IGT ADVANTAGE® system, allows casino patrons to enjoy a safer, cashless gaming experience. Players can easily transfer funds into a digital wallet using a loyalty card, facilitating a seamless gaming experience across various platforms, including slots and table games. This enhances operational efficiency and reduces cash handling risks.

Positive

• Completion of Nevada regulatory approval for Resort Wallet™ enhances IGT's market position in cashless gaming.
• The Resort Wallet solution offers increased player convenience and safety, appealing to modern consumers.
• Operational efficiencies and reduced cash handling costs enhance profitability for casinos.
• Integrated technology supports responsible gaming practices.

Negative

• None.

LONDON, Jan. 5, 2021 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that the Company is leading a new era in cashless gaming by successfully completing the final stage of Nevada regulatory approval for its Resort Wallet™ carded cashless module, part of the award-winning IGT ADVANTAGE^® casino management system. With this milestone, the module is approved for deployment throughout the State, enabling customers to give their casino patrons the option of a reduced-contact, safer, and effortless cashless slot gaming experience.

"Our Resort Wallet solution ensures that our customers can experience the increased liquidity, player convenience, and enhanced safety that only cashless gaming can deliver," said Ryan Reddy, IGT Vice President, VLT, Systems and Payments Products. "This solution will heighten the player experience to new levels while positioning our customers as technology leaders. We're grateful to the Nevada Gaming Control Board for enabling this momentous debut in the State."

The approved Resort Wallet carded cashless module enables players to use a loyalty card to transfer cash into a secure digital wallet from either the casino cash desk or any Resort Wallet-enabled slot machine. Players can then insert their PIN-protected card into the slot machine, apply those funds to their game play, and cash out to their secure digital wallet at any time. They can also choose to move a portion of their funds from the slot machine to their digital wallet while printing a ticket at the slot machine for the balance.

The carded cashless module is one of three variations available as part of IGT's Resort Wallet solution, the industry's only fully integrated, turnkey cashless technology:

• A variation of the Resort Wallet solution includes cardless cashless, where players tap their smartphone on a slot machine or table game to card in. They can then access their Cashless Wagering Account, load cash into the account from either the casino cashier, kiosk, or slot machine, then transfer funds between slot machines onsite, as well as between a casino's properties.
• Cashless with external funding represents the full-service variation of the Resort Wallet solution. It combines Resort Wallet with IGTPay™, IGT's proven, proprietary external funding gateway. Players access their Cashless Wagering Account from a mobile app, with the flexibility to load their account securely and directly with funds from external sources such as credit and debit cards, bank accounts, and e-Wallets.

In addition to slot play, patrons can seamlessly access the funds in their Resort Wallet Cashless Wagering Account for table gaming, sports betting, and at retail points-of-sale.

All Resort Wallet modules encourage social distancing on the gaming floor by reducing line-ups at the casino cash desk and kiosks, and generate greater operational efficiencies by reducing cash handling costs and associated safety and security risks. Cashless play lessens machine maintenance by reducing cash handling, and results in fewer cash handling errors.

In addition, the IGT ADVANTAGE system enables responsible gaming information to be displayed through the Service Window and NexGen^® display on the slot machine, as well as through notifications on the Resort Wallet-enabled cashless wagering mobile app.

For more information, visit igt.com/cashless, or go to Facebook at facebook.com/IGT, follow us on Twitter at twitter.com/IGTnews, or watch IGT videos on YouTube at youtube.com/igt. 

About IGT
IGT (NYSE:IGT) is the global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Gaming Machines and Lotteries to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, our solutions deliver unrivaled gaming experiences that engage players and drive growth. We have a well-established local presence and relationships with governments and regulators in more than 100 countries around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 11,000 employees. For more information, please visit www.igt.com.

Cautionary Statement Regarding Forward-Looking Statements
This news release may contain forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning International Game Technology PLC and its consolidated subsidiaries (the "Company") and other matters. These statements may discuss goals, intentions, and expectations as to future plans, trends, events, dividends, results of operations, or financial condition, or otherwise, based on current beliefs of the management of the Company as well as assumptions made by, and information currently available to, such management. Forward-looking statements may be accompanied by words such as "aim," "anticipate," "believe," "plan," "could," "would," "should," "shall", "continue," "estimate," "expect," "forecast," "future," "guidance," "intend," "may," "will," "possible," "potential," "predict," "project" or the negative or other variations of them. These forward-looking statements speak only as of the date on which such statements are made and are subject to various risks and uncertainties, many of which are outside the Company's control. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may differ materially from those predicted in the forward-looking statements and from past results, performance, or achievements. Therefore, you should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include (but are not limited to) the factors and risks described in the Company's annual report on Form 20-F for the financial year ended December 31, 2019 and other documents filed from time to time with the SEC, which are available on the SEC's website at www.sec.gov and on the investor relations section of the Company's website at www.IGT.com. Except as required under applicable law, the Company does not assume any obligation to update these forward-looking statements. You should carefully consider these factors and other risks and uncertainties that affect the Company's business. All forward-looking statements contained in this news release are qualified in their entirety by this cautionary statement. All subsequent written or oral forward-looking statements attributable to International Game Technology PLC, or persons acting on its behalf, are expressly qualified in their entirety by this cautionary statement.

Contact:
Phil O'Shaughnessy, Global Communications, toll free in U.S./Canada +1 (844) IGT-7452; outside U.S./Canada +1 (401) 392-7452
Francesco Luti, +39 3485475493; for Italian media inquiries
James Hurley, Investor Relations, +1 (401) 392-7190
Rhonda Whittaker, Global Communications, +1 (506) 860-6471

© 2020 IGT

The trademarks and/or service marks used herein are either trademarks or registered trademarks of IGT, its affiliates or its licensors.

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SOURCE International Game Technology PLC

FAQ

What is IGT's Resort Wallet™ cashless module?

The Resort Wallet™ cashless module allows casino patrons to transfer cash into a secure digital wallet using a loyalty card for a safer gaming experience.

When did IGT receive Nevada regulatory approval for its cashless gaming solution?

IGT completed the final stage of regulatory approval for its Resort Wallet™ cashless module on January 5, 2021.

How does the Resort Wallet™ improve the player experience?

The Resort Wallet™ enhances the player experience by offering a contactless method to deposit and withdraw funds, reducing wait times and increasing convenience.

What are the benefits of cashless gaming for casinos?

Cashless gaming reduces cash handling costs, enhances operational efficiency, and encourages social distancing on the gaming floor.

What technology does IGT use in its cashless gaming solutions?

IGT's cashless gaming solutions use the IGT ADVANTAGE® casino management system and include features like a digital wallet and external funding options.