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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.
International Game Technology PLC (IGT) has signed a multi-year exclusive licensing agreement with WWE to develop and distribute WWE-branded omnichannel lottery games. This partnership aims to leverage WWE's broad appeal across various demographics while combining IGT's lottery expertise. Both companies expressed excitement about the collaboration, emphasizing its potential to enhance engagement with global customers and fans.
WWE (NYSE: WWE) has entered into a multi-year exclusive licensing agreement with International Game Technology (IGT) (NYSE: IGT) to develop and distribute WWE-branded omnichannel lottery games. This partnership aims to leverage WWE’s intellectual property to attract fans through new lottery games and promotional programs. WWE’s Vice President, Alex Varga, emphasized the collaborative potential, while IGT's COO, Jay Gendron, highlighted the appeal of WWE's diverse brand across global demographics. This deal marks a significant expansion in WWE’s partnership within the gaming industry.
International Game Technology PLC (IGT) announced its lottery operations, including iLottery, have received recertification from the World Lottery Association (WLA) for Corporate Social Responsibility Standards and Responsible Gaming Framework for Suppliers. This recognition emphasizes IGT's commitment to responsible gaming, as endorsed by WLA officials. The assessment, conducted by EY, confirmed IGT's compliance with WLA standards across eight critical areas, highlighting the company's ongoing dedication to minimizing problem gambling impacts.
International Game Technology PLC (IGT) is set to unveil the first omnichannel Wheel of Fortune linked progressive in the U.S. at the SBC Summit North America 2021, from Nov. 30 to Dec. 2 in Secaucus, N.J. This innovative technology links digital and land-based gaming, allowing players in New Jersey to access shared jackpots across all gaming channels. Building on the success of its Powerbucks link in Canada, IGT aims to enhance player experience and engagement. Additional new products showcased will include Fortune Coin Boost! and the CrystalFlex gaming cabinets.
International Game Technology PLC (IGT) has expanded its sports betting operations in Arizona through a multi-year agreement with Cliff Castle Casino in Camp Verde. Utilizing IGT PlaySports technology, the casino will offer retail sports betting, enabling guests to place pre-match and in-game wagers. This collaboration aims to attract new customers and enhance the gaming experience. IGT currently powers sports betting at nearly 60 venues across 19 U.S. states, indicating robust growth in this sector.
International Game Technology (IGT) hosted a virtual Investor Day on November 16, 2021, focusing on progress made for profitable growth across all segments. CEO Marco Sala highlighted the potential for organic growth and robust cash flow over the next four years. Key announcements included a revenue outlook of $4.1 to $4.3 billion for 2022, with significant cash flow expectations. IGT plans a $300 million share repurchase program and aims for a separate public listing of its Digital & Betting segment. Financial goals for 2022-2025 include a revenue target of $4.6 to $5 billion, mid-teens operating income growth, and disciplined capital allocation.
International Game Technology PLC (IGT) reported strong financial results for Q3 2021, with revenues of $984 million, up 21% year-over-year. Global Lottery revenue increased by 14% to $652 million, and Digital & Betting revenue surged 37% to $43 million. Operating income more than doubled to $212 million, reflecting effective cost management and strategic investments. The company announced a quarterly cash dividend of $0.20 per share and achieved a net debt reduction of 16%, now at $6.1 billion, which reflects improved cash flow and financial health.
International Game Technology PLC (NYSE:IGT) has appointed Gil Rotem as President of iGaming, effective immediately. Reporting to Enrico Drago, CEO Digital & Betting, Rotem will oversee the global development of IGT PlayCasino. With nearly two decades of experience from companies like 888.com and bet365, he aims to drive further growth in the iGaming sector, which has seen significant expansion. Drago expressed confidence in Rotem's leadership to maintain IGT's position in the iGaming industry as the segment continues to experience double-digit growth.
International Game Technology (IGT) has announced a multi-year iGaming content distribution agreement with Yggdrasil Gaming, securing exclusive access to select games for distribution in the U.S. and Canada. This partnership aims to enhance IGT's PlayCasino offering as the online gaming market expands in North America. The first Yggdrasil title is expected to debut in December 2021. Both companies emphasize the importance of this alliance for long-term growth and value creation for shareholders.
International Game Technology (IGT) has entered a multi-year licensing agreement with Authentic Brands Group (ABG) to develop and distribute Marilyn Monroe-themed lottery games. This agreement allows IGT to create a variety of games, including instant tickets and draw-based games, enhancing the lottery experience for participants in the U.S. and Canada. Jay Gendron, IGT's COO, emphasizes the potential of the Marilyn Monroe brand to generate engaging gaming experiences. The partnership aims to attract both Marilyn Monroe fans and lottery players through innovative gameplay.
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