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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 renewed its multi-year retail sports betting agreement with FanDuel, extending their partnership for four additional years starting September 1, 2024. Under this agreement, IGT PlaySports will continue as the exclusive retail sports betting platform provider for FanDuel's retail sportsbooks across North America.
The collaboration between IGT PlaySports and FanDuel began in 2019 when FanDuel opened its first U.S. sportsbook. Currently, IGT PlaySports technology powers 27 FanDuel Sportsbooks across 20 gaming jurisdictions. FanDuel Sportsbooks utilize various IGT PlaySports technologies, including the IGT PlaySports Kiosk and IGT PlaySports Pad.
This renewal underscores the success of their partnership in delivering a top-tier customer experience in retail sports betting operations.
IGT has announced the expansion of its Wheel of Fortune brand to new product categories, including video poker, electronic table games (ETG), and video lottery terminals (VLT). These products, along with 11 new Wheel of Fortune Slots games and three new cabinets, will debut at the Global Gaming Expo (G2E) from October 7-10 in Las Vegas.
Highlights include:
- Wheel of Fortune Video Poker on CrystalCurve™ and PeakSlant™49 cabinets
- Wheel of Fortune ETG with a 120-inch diameter wheel
- Wheel of Fortune VLT on the new Sierra 27 terminal
- New slots games like Wheel of Fortune Cash Link™ Big Money™ and Wheel of Fortune Cash Link Reels Double Diamond®
Since its 1996 launch, Wheel of Fortune Slots has paid out nearly $3.6 billion in jackpots and created over 1,200 millionaires. IGT recently extended its licensing agreement with Sony Pictures Television through 2034.
IGT announced that Shondra DeLoach-Perea, Vice President Field Services, Call Centers and Technology Operations, has been named a recipient of Global Gaming Women's (GGW) 2024 'Patty Becker Pay it Forward Award'. This award honors women in the gaming industry who have contributed to GGW's initiatives and supported women in their organization and community.
DeLoach-Perea has a 25-year career in gaming and lottery sectors, joining IGT in 2008. She currently oversees a global team spanning multiple regions. She is actively involved in IGT's employee engagement programs, including the Global Diversity, Equity & Inclusion Council and the Women's Inclusion Network. Outside IGT, she participates in GGW's Lean In Circles and co-chairs their DEI Committee.
The award ceremony will take place at GGW's 14th Annual Kick Up Your Heels event in Las Vegas on October 9, 2024.
International Game Technology PLC (NYSE:IGT) has successfully priced €500,000,000 4.250% Senior Secured Notes due 2030, to be issued by its wholly-owned subsidiary IGT Lottery Holdings B.V. The notes will be guaranteed by IGT and certain subsidiaries. IGT plans to use the proceeds to redeem $499,999,000 of its 6.500% Senior Secured Notes due February 15, 2025 at par on September 24, 2024, pay debt issuance costs, and for general corporate purposes. The redemption is conditional on receiving at least €500,000,000 in gross proceeds from the new notes sale. Settlement is expected on September 18, 2024, subject to customary conditions. The notes are being offered only to qualified institutional buyers in the U.S. and non-U.S. persons outside the U.S., in compliance with applicable securities laws.
International Game Technology PLC (NYSE:IGT) has announced a benchmark offering of senior secured notes due 2030, denominated in euros. The notes will be issued by IGT Lottery Holdings B.V., a wholly-owned subsidiary of IGT. The company intends to use the proceeds to redeem $499,999,000 of IGT's 6.500% Senior Secured Notes due 2025 at par, pay debt issuance costs, and for general corporate purposes.
IGT has also released historical financial statements recast to show the impact of classifying IGT Gaming & Digital businesses operations as discontinued and assets and liabilities as held for sale. The notes are being offered only to qualified institutional buyers in the U.S. and non-U.S. persons outside the U.S., in compliance with applicable securities laws.
IGT has launched Money Mania slots, its second omnichannel Wide Area Progressive (WAP) game in Canada, following the success of Powerbucks™. The game is available on BCLC's PlayNow.com and at 22 BCLC-governed casinos in British Columbia. IGT is the only supplier offering omnichannel jackpot games with shared jackpot liquidity across land-based, online, and mobile platforms.
Money Mania features a $100,000 top-level 'Money Jackpot' and a fast-growing second-level 'Mania Jackpot' with a $4,000 reset value. The game is designed to deliver frequent mid-to-large-size jackpots and drive cross-channel gameplay. Since the 2016 launch of Powerbucks, IGT's first omnichannel jackpot game, it has created over 50 millionaires across Canada.
IGT has secured a three-year primary instant ticket printing contract with Santa Casa da Misericórdia de Lisboa (SCML), Portugal's national lottery. The agreement, awarded through competitive procurement, grants SCML access to IGT's instant ticket content and innovations portfolio, including top-performing games. IGT will also provide marketing services, game development, and analytics.
As IGT's subsidiary, IGT Global Solutions , has been SCML's primary lottery technology partner since 2000, this contract further strengthens their long-standing relationship. IGT currently delivers retail central system hardware, software, terminal maintenance, and field services to SCML.
IGT's global market leadership is evident, as it serves as the primary technology provider to 26 of 46 U.S. lotteries, 8 of the world's 10 largest lotteries, and 16 of the world's top 25 lotteries.
International Game Technology PLC (NYSE: IGT) has appointed Nick Khin as President, Global Gaming. Khin, who previously served as IGT's Chief Operating Officer and Senior Vice President, Gaming since 2015, will now be responsible for managing the company's Global Gaming business unit. This includes overseeing studios, technology, sales, games and hardware, manufacturing and services, and systems.
Khin will report directly to IGT CEO Vince Sadusky and will be based in Las Vegas. Sadusky praised Khin's leadership, stating that under his guidance, IGT has consistently released top games and strengthened its performance across all game categories. Khin joined IGT in 2013, initially leading the corporate strategy and mergers and acquisitions functions. He brings over 23 years of industry experience to the role, including senior executive positions in Las Vegas, London, and Sydney.
IGT (NYSE: IGT) has expanded its sports betting presence in Nevada and Colorado through a partnership with Monarch Casino & Resort, Inc. (Nasdaq: MCRI). The agreement involves IGT's PlaySports technology and services powering retail and mobile sports betting at Atlantis Casino Resort Spa in Reno, Nevada and Monarch Casino Resort Spa in Black Hawk, Colorado.
As part of this collaboration, Monarch has launched new mobile sportsbook apps: Atlantis NV Sports and BetMonarch – Colorado, both utilizing IGT PlaySports technology. IGT's platform is known for its versatility in the U.S. B2B sports betting market and was recently named 'Sportsbook Platform Provider of the Year' at the 2024 EGR North America Awards.
International Game Technology PLC (IGT) reported strong Q2 2024 results, with revenue of $1.05 billion and operating income of $230 million. The company achieved record H1 2024 operating income and Adjusted EBITDA, excluding separation and divestiture costs. Key highlights include:
- Global Lottery revenue of $613 million, down 2% year-over-year
- Gaming & Digital revenue of $436 million, up 1% versus prior year
- Adjusted EBITDA of $420 million
- Generated over $460 million in cash from operations in H1 2024
- Recently announced sale of Gaming & Digital business for $4.05 billion in cash
IGT's strong performance was driven by investments in technology, game content, and innovative solutions. The company maintains a solid financial position with ample liquidity and manageable near-term debt maturities.
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