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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 has launched its Money Mania™ Wide Area Progressive (WAP) video slots game in key commercial gaming jurisdictions, including Nevada and New Jersey, following a successful rollout in tribal casinos. The game, featuring themes like Pharaoh's Fortune and Cleopatra, is designed on the award-winning PeakSlant32™ cabinet and aims to enhance player engagement with frequent jackpots. Early reports indicate that it is delivering over twice the average play rate in many locations, indicating strong market performance and potential for sustained growth.
International Game Technology (IGT) has announced the deployment of its IGT ADVANTAGE casino management system at the upcoming NUSTAR Resort and Casino in Cebu, Philippines. The casino will feature the first Peak49 cabinets in Asia, enhancing gaming experiences with advanced technology and data analytics. This partnership aims to optimize casino operations and customer loyalty through cashless gaming options in the future. The NUSTAR Resort will also showcase popular IGT games, setting a new standard for entertainment in the region.
International Game Technology (IGT) reported a 4% increase in revenue, reaching $1.1 billion, driven by a 42% surge in Global Gaming product sales. Operating income stood at $252 million, with a margin exceeding expectations at 24%. Adjusted EBITDA remained strong at $433 million, maintaining a 41% margin. The company returned a record $80 million to shareholders in dividends and share buybacks. IGT reaffirmed its full-year outlook for 2022, targeting revenues between $4.1 billion and $4.3 billion.
IGT has achieved Global Gambling Guidance Group (G4) responsible gaming accreditation for its sports betting operations, making it the first U.S. supplier in the gaming industry to do so. This certification covers IGT's lottery, gaming, digital, and sports betting segments, underscoring the company's commitment to responsible gaming initiatives. IGT previously received G4 certification for its gaming operations in 2017 and digital solutions in 2019. The accreditation promotes best practices in player protection and responsible gaming across its platforms.
International Game Technology PLC (IGT) will host a conference call to discuss its first quarter 2022 results for the period ending March 31, 2022. The call is scheduled for Tuesday, May 10, 2022, at 8:00 a.m. EDT. Investors can register for the call here. A live webcast will also be accessible on the IGT Investor Relations website, with a replay available afterward. For more information, visit www.IGT.com.
International Game Technology (IGT) has been awarded the title of Multi-Channel Supplier of the Year at the 2022 International Gaming Awards. This recognition highlights IGT's leadership in providing cross-platform content and technology solutions across iGaming and land-based casinos. IGT's diverse game offerings, including the innovative Powerbucks slots, contribute to its competitive edge. The award reflects the company's commitment to enhancing player engagement and supporting customers in their growth amid increasing demands in the gaming industry.
IGT has launched its innovative Infinity Instants™ games, utilizing patented digital printing technology to enhance instant ticket design and gameplay. This technology allows for high-resolution, colorful designs with customizable elements, promoting player engagement. The new tickets have successfully debuted in four U.S. lottery markets, demonstrating strong performance. IGT's commitment to innovation in the lottery sector was emphasized by COO Jay Gendron, highlighting the potential for an infinite number of design possibilities.
International Game Technology (IGT) has entered a significant patent cross-licensing agreement with Aristocrat Leisure, enhancing its portfolio of game features and remote game server technologies. This deal allows IGT to sublicense their combined patents to the global gaming industry, potentially accelerating innovation and development in gaming mechanics. While financial details remain undisclosed, IGT emphasizes its commitment to protecting its intellectual property and facilitating growth through collaboration.
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