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International Game Technology PLC (IGT) is a leading global gaming company that ensures players enjoy entertaining and responsible gaming experiences across multiple channels. With its roots in both the largest global lottery business and the world leader in gaming equipment, IGT offers comprehensive solutions through its three primary segments: Global Lottery, Global Gaming, and PlayDigital. The Global Lottery segment, which generates the highest revenue, supplies lottery products and services to governmental organizations through various contractual agreements. Meanwhile, Global Gaming focuses on providing gaming machines, systems, and services, and PlayDigital caters to the digital gaming space, offering a broad array of online games and sports betting solutions.
Headquartered in London, IGT commands a significant market presence, with a considerable portion of its revenues stemming from the United States. The company has built robust relationships with governments and regulators in over 100 jurisdictions worldwide. IGT’s operational excellence and commitment to innovation are reflected through its wealth of compelling content, significant investment in technology, and player insights, which together drive unparalleled gaming experiences and growth.
In recent developments, IGT has been actively expanding its reach and enhancing its service offerings. Notably, it has signed agreements to modernize video poker across the Netherlands and to implement new gaming features for the Atlantic Lottery in Canada. Additionally, IGT has extended its contract with the Mississippi Lottery to continue providing online gaming systems and instant ticket services through 2029.
IGT has also made headlines for resolving legal disputes with Acres Manufacturing Company, which will allow both companies to collaborate on innovative cashless gaming solutions. Furthermore, IGT has reported strong financial results for the first quarter of 2024, driven by better-than-expected performance across its segments and upgraded full-year revenue and profit goals.
Through its Global Lottery segment, IGT remains the primary technology provider to numerous lotteries, including some of the largest in the world. The company’s comprehensive approach, leveraging cloud-based remote game servers and advanced gaming technology, has positioned it at the forefront of the gaming industry. IGT’s commitment to responsible gaming and adherence to high standards of service and integrity continue to drive its success in creating value for stakeholders.
IGT expands iLottery offerings to Michigan Lottery by signing an agreement to deliver popular games through its remote gaming server. This move adds a diverse range of eInstant games, including player-favorite titles, enhancing the Lottery's existing portfolio. Michigan Lottery joins Georgia, Kentucky, and Rhode Island as the fourth U.S. lottery to utilize IGT's extensive library. IGT's proven track record in partnering with lotteries aims to boost iLottery sales and player engagement in Michigan.
On July 20, 2022, International Game Technology (NYSE: IGT) was awarded the title of Lottery Supplier of the Year at the 2022 SBC Awards North America, reflecting its leadership in the global lottery industry. Jay Gendron, COO of Global Lottery at IGT, emphasized the company's commitment to innovation and supporting lotteries in enhancing their gameplay and digital content. IGT's iLottery solutions have achieved significant growth, positioning the company as a trusted partner in the market.
International Game Technology PLC (NYSE: IGT) will conduct a conference call and live webcast on August 2, 2022, at 8:00 a.m. EDT to discuss its second quarter 2022 results, which ended on June 30, 2022. Interested participants can register for the call and obtain dial-in information by visiting the provided link. The webcast can also be accessed through the company's Investor Relations website. IGT is a leader in gaming, providing innovative and responsible gaming experiences across multiple channels worldwide.
IGT has launched the DiamondRS™ mechanical reel cabinet, introducing a modern gaming experience rooted in extensive market research. This cabinet retains design elements from IGT's successful S2000 and S3000 models while incorporating innovative features like IGT Diamond Glass™ technology, allowing for dynamic gameplay. The cabinet debuted at Yaamava' Resort & Casino, offering new and classic game titles, including Double Top Dollar™ and Pinball™ Double Gold™. With enhanced displays and ergonomic designs, the DiamondRS cabinet is set to redefine the mechanical reel segment.
International Game Technology PLC (NYSE:IGT) has successfully completed its acquisition of iSoftBet for approximately €160 million in cash. This strategic move significantly enhances IGT's PlayDigital content library, expanding it to around 225 proprietary games. The acquisition also provides IGT with a robust game aggregation platform for distributing third-party games and advanced promotional tools for user engagement. The deal was advised by Oakvale Capital LLP, while legal advisors included Wachtell, Lipton, Rosen & Katz, and tax due diligence was handled by KPMG LLP.
The partnership between BetMGM, Sony Pictures Television, and IGT will launch the Wheel of Fortune Casino in New Jersey, marking North America's first brand-led online casino. This initiative coincides with the show's 40th season anniversary and aims to engage players with real money wagering on iconic Wheel of Fortune slot games. Matt Prevost from BetMGM highlighted the excitement of bringing this experience online, while IGT's Enrico Drago emphasized the brand's legacy in gaming. The launch also includes a focus on responsible gaming through GameSense resources.
IGT has expanded its partnership with SuperBook Sports to Tennessee, marking the fourth state to adopt its PlaySports technology for mobile betting. This follows previous implementations in Colorado, New Jersey, and Arizona. SuperBook aims to enhance its offerings with localized promotions and competitive betting solutions in Tennessee. The launch is part of IGT's broader strategy to engage U.S. sports fans and grow its market presence, recognized by its recent award as Sports Betting Platform Provider of the Year. IGT operates in over 20 U.S. states and Canada.
IGT delivers 960 Cobalt VLTs to Manitoba Liquor and Lotteries Corporation
On June 7, 2022, IGT announced the installation of 960 Cobalt™ 27 video lottery terminals (VLTs) in Canada, marking its debut in the region. The Cobalt VLTs are designed with two 27-inch screens and ergonomic features for player comfort. They will include popular games such as Temple of Fire Cash Eruption and new themes like The Wild Life Extreme. This partnership aims to modernize VLT gaming in Manitoba, enhancing player engagement and operational capabilities.
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