IGT PlaySports Launches Trading Advisory Services in Michigan with Lac Vieux Desert Northern Waters Casino & Resort
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.
- IGT's partnership with Northern Waters Casino includes new Trading Advisory Services.
- Northern Waters Casino has been using IGT's technology since 2021.
- Expansion aims to streamline sportsbook operations and enhance customer experience.
- Northern Waters will deploy PeakBarTop cabinets with Total Gaming software.
- IGT PlaySports was named 'Sportsbook Supplier of the Year' in 2023.
- IGT PlaySports powers sports betting at over 80 gaming venues in North America.
- The PR lacks specific financial details on the impact of the new agreement.
- No information on potential costs or financial commitments involved in the expansion.
Insights
IGT's expansion of services to include trading advisory for Northern Waters Casino indicates a strategic move to deepen client relationships and capture more of the sports betting value chain. This could positively impact IGT's revenue streams by offering higher-margin services.
From a financial perspective, this partnership brings potential for incremental revenue growth. The agreement builds on existing technology offerings, which could lead to increased client reliance on IGT's solutions and foster long-term client loyalty. Investors should observe whether this model can be replicated with other casinos, which would be a significant growth driver.
In the short term, the financial boost might be modest, but the long-term prospects are favorable. If IGT successfully scales this model, it can enhance its market position in a competitive industry.
Localized impact: The local market in Michigan could see increased sports betting activity, catalyzed by the integration of advanced advisory services and technology. This could drive up user engagement and, consequently, Northern Waters' revenue.
Industry Context: The partnership highlights a growing trend where casinos are looking to enhance their sports betting operations with expert advisory services. This move aligns with the increasing demand for comprehensive, data-driven betting solutions that aim to optimize returns while maintaining player engagement.
Market Position: IGT's standing as a leader in sportsbook technology is reinforced by this deal. Their recognition as 'Sportsbook Supplier of the Year' lends credibility and could attract more clients seeking robust solutions.
User Experience: The deployment of IGT's PeakBarTop cabinets with Total Gaming software aims to create a seamless, multi-functional gaming experience. This is critical in an industry where user experience can significantly drive customer loyalty and repeat business.
In summary, this partnership is a positive indicator for IGT's market strategy and could set the stage for similar agreements, enhancing their competitive edge.
Technology Enhancement: The use of IGT's PeakBarTop cabinets with Total Gaming software is a noteworthy development. These devices offer versatility—allowing users to switch between sports betting, video poker, slots and keno on a single platform. This convergence of gaming options could enhance user engagement by offering more choices without the need for multiple devices.
From a technological standpoint, integrating various games into one ergonomic device is smart, addressing both space constraints and user convenience. This could potentially set a new standard in casino gaming solutions.
Client Retention: The advanced technology and advisory services provided by IGT are likely to strengthen client relationships. When casinos see tangible benefits in operational efficiency and user satisfaction, it’s a win-win for both the service provider and the client.
Casino grows sports betting partnership with IGT PlaySports™ to include technology and services
"IGT PlaySports is
"The IGT PlaySports team is excited to expand our relationship with
As part of
IGT PlaySports was named "Sportsbook Supplier of the Year" in the 2023 SBC North America Awards. IGT PlaySports powers sports betting at more than 80 gaming venues across
About IGT
IGT (NYSE:IGT) is a global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Lotteries and Gaming Machines 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 jurisdictions 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, products and services, customer relationships, 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, 2023 and other documents led 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
Francesco Luti, Italian media inquiries, +39 06 5189 9184
James Hurley, Investor Relations, +1 (401) 392-7190
© 2024 IGT
The trademarks and/or service marks used herein are either trademarks or registered trademarks of IGT, its affiliates or its licensors.
View original content to download multimedia:https://www.prnewswire.com/news-releases/igt-playsports-launches-trading-advisory-services-in-michigan-with-lac-vieux-desert-northern-waters-casino--resort-302148271.html
SOURCE International Game Technology PLC
FAQ
What new services is IGT providing to Northern Waters Casino in Michigan?
When did IGT announce its new partnership with Northern Waters Casino?
What technology has Northern Waters Casino been using since 2021?
What new equipment will Northern Waters Casino deploy?
How many gaming venues does IGT PlaySports power in North America?
What award did IGT PlaySports win in 2023?
