Welcome to our dedicated page for International Game Technology news (Ticker: IGT), a resource for investors and traders seeking the latest updates and insights on International Game Technology stock.
International Game Technology (IGT) delivers cutting-edge gaming solutions across lottery systems, digital wagering platforms, and regulated sports betting markets worldwide. This page provides official updates and press releases essential for understanding the company's strategic direction.
Access real-time announcements on financial results, product innovations, and regulatory milestones. Investors and industry professionals will find curated information spanning earnings reports, technology partnerships, new market entries, and corporate responsibility initiatives.
All content is verified for accuracy and relevance to IGT's core operations in gaming machines, omnichannel systems, and government-regulated lottery services. Bookmark this page for efficient tracking of developments impacting global gaming markets and IGT's position as an industry leader.
International Game Technology (IGT) will showcase its extensive gaming portfolio at the 2022 Global Gaming Expo (G2E) from October 10-13 in Las Vegas. The exhibit will feature innovations like the PeakDual™ 27 and PeakCurve™ cabinets, new multi-level progressive games such as Money Mania, and advancements in cashless gaming solutions with Resort Wallet™ and IGTPay™. CEO Vince Sadusky emphasized IGT's strong product performance, while the event will highlight over 200 innovations designed to meet diverse customer needs and capture market growth opportunities.
IGT has secured a significant contract with the Ontario Lottery and Gaming Corporation (OLG) to provide self-serve lottery terminals across Ontario. This agreement represents the first introduction of such technology in the province, with OLG aiming to enhance player experience and drive sales. Under the deal, IGT will deploy 1,400 GameTouch™ 28 self-serve terminals by mid-2023, and the contract extends until June 2027 with options for further extensions. The terminals will include functionality for responsible gaming and accessibility features.
On September 19, 2022, International Game Technology (IGT) announced updates on its capped cash tender offer for $1.1 billion in 6.500% Senior Secured Notes due 2025 and €500 million in 3.500% Senior Secured Notes due 2024. The New Early Settlement Date was revised to September 21, 2022. IGT increased the Maximum Acceptance Amount to $600,279,934 and the Dollar Offer Sub Cap to $400,001,000. As of September 16, 2022, IGT accepted $400,001,000 of Dollar Notes and €199,959,000 of Euro Notes. The tender offer will expire on September 30, 2022.
International Game Technology (NYSE:IGT) announced the completion of the sale of its Italian proximity payment business to PostePay for €700 million. The transaction reflects an enterprise value of €630 million, with €70 million in net unrestricted cash. At closing, the business held around €140 million in unrestricted cash, benefiting from improved cash flows since December 31, 2021. Proceeds will be allocated primarily to pay transaction expenses and reduce debt. UBS AG, UniCredit, Advant-Nctm, and KPMG provided advisory services for the transaction.
IGT has announced a multi-year content agreement with SKS365 Group to enhance its PlayDigital offerings. The partnership allows Planetwin365 casino to access IGT's remote game server (RGS) and a wider selection of PlayCasino games, including popular titles like Cleopatra and Cash Eruption. This expansion aims to strengthen the Planetwin365 brand in the competitive Italian market, with plans for 30 additional game releases in the next two months. IGT's extensive content library and market expertise position it as a leading player in Italy's gaming industry.
International Game Technology PLC (IGT) announced a Tender Offer to purchase up to US$500,000,000 of its outstanding US$1,100,000,000 6.500% Senior Secured Notes due 2025 and €500,000,000 3.500% Senior Secured Notes due 2024. The Tender Offer expires on September 30, 2022. Holders who tender by September 16 will receive an early tender premium of US$30.00 or €30.00. Payments for accepted notes will occur on September 20 for early tenders and October 4 for later tenders. The offer is subject to conditions, including acceptable financing proceeds from the sale of shares by an indirect subsidiary.
IGT has secured a four-year contract extension with the New York Lottery, extending their partnership until August 2026. This agreement involves the launch of a new claims and payments system, while maintaining existing services including the lottery central system, retailer training, and call center support. Since 1986, IGT has cultivated a trusted relationship with the Lottery, emphasizing its commitment to delivering innovative solutions. This partnership reinforces IGT's status as a leader in the global lottery market, operating over 475,000 point-of-sale terminals worldwide.
International Game Technology (IGT) and DoubleDown Interactive (DDI) announced an agreement to settle the Benson v. DoubleDown Interactive lawsuit, pending court approval. The settlement involves a total payment of $415 million, with IGT's subsidiaries contributing $269.75 million and DDI $145.25 million. As part of the settlement, IGT will incur a $119.75 million non-operating expense in Q3, following a $150 million accrual in Q2. The settlement aims to resolve all related indemnification claims between IGT and DoubleDown.
IGT has announced a significant partnership with Santa Casa da Misericórdia de Lisboa to introduce the Retailer Vue™ lottery terminal in Portugal. This agreement entails the delivery of up to 7,200 camera-based terminals expected by 2023. The Retailer Vue features a 13.3 MP camera that enables contactless transactions and enhances retail space efficiency. IGT aims to modernize the lottery experience, fostering interaction between players and retailers while driving sales growth and contributions to good causes.
IGT has announced a multi-year partnership with Nisqually Red Wind Casino in Olympia, Washington, enhancing its sports betting leadership in the region. The agreement will see the casino utilize the IGT PlaySports platform and install IGT betting kiosks. This marks the eighth venue in Washington State to offer sports betting through IGT's technology, which is implemented in over 70 locations across the U.S. IGT aims to boost player acquisition and enhance visitor engagement at the casino, aligning with its strategy to grow sports betting offerings.
