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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) announced its IGT ADVANTAGE casino management system (CMS) has been deployed at Regency Casino Thessaloniki, marking its first launch in Greece and second in Europe. The CMS aims to enhance personalization and service for Regency Club members and improve business analytics capabilities. The casino will utilize IGT's diverse bonuses and M5 content management module for tailored promotions. This deployment strengthens IGT's presence in the important Greek market as acknowledged by both IGT and Regency's executives.
Bally's Corporation (NYSE: BALY) celebrates the Rhode Island Legislature's passage of the Marc A. Crisafulli Economic Development Act, which extends a partnership with International Game Technology (NYSE: IGT). This act establishes a 20-year joint venture where Bally's will lease 23% of gaming machines, increasing to 40% by 2023. The $250 million plan aims for job creation and expansion of the Twin River Casino, enhancing Rhode Island's gaming industry by preserving key revenue streams.
International Game Technology (IGT) has expanded its historical horse racing (HHR) offerings with the launch of Wheel of Fortune-themed games at Churchill Downs Incorporated (CDI) facilities in Kentucky. This introduction marks IGT's first licensed theme in the HHR market. A total of 40 CrystalWheel cabinets featuring the Wheel of Fortune Cash Link Exotic Far East theme have been deployed at Derby City Gaming, Oak Grove Racing, Gaming & Hotel, and Newport Racing & Gaming. The games include multiple jackpot levels and free games to enhance player engagement.
International Game Technology PLC (IGT) reported strong financial results for Q1 2021, with total revenue increasing by 25% year-over-year to $1,015 million. The Global Lottery segment achieved record sales, contributing $749 million and a 48% increase. While Global Gaming revenues declined 14% to $266 million, there was a notable recovery with a sequential increase from Q4 2020. Operating income surged to $260 million from a loss of $218 million last year. Adjusted EBITDA reached $450 million, marking a 72% increase, driven by significant operational efficiencies.
On May 10, 2021, IGT completed the sale of its Italian B2C gaming machine, sports betting, and digital gaming businesses, represented by Lottomatica Videolot Rete S.p.A. and Lottomatica Scommesse S.r.l., to Gamenet Group S.p.A. for €950 million. The transaction includes an initial payment of €725 million, with additional payments scheduled for December 31, 2021, and September 30, 2022. IGT plans to utilize the funds to cover transaction expenses and reduce debt, enhancing its financial position.
International Game Technology announced that its PeakSlant49 cabinet is now available for purchase in the U.S., previously lease-only. This cabinet supports IGT's Proven Performer core games, enhancing casino operators' offerings.
Key features include a 49-inch Ultra-HD display, intelligent lighting, and player-friendly features. Initially launched in 2020 with premium titles like Fortune Coin Boost!, the cabinet aims to improve gaming experiences while driving revenue growth for operators.
International Game Technology PLC (IGT) announced the resignation of Walter Bugno, Executive Vice President of New Business and Strategic Initiatives, effective May 14, 2021. Bugno's contributions over his 10-year tenure were recognized by CEO Marco Sala, who highlighted his role in strengthening global leadership and fostering innovation. In light of his departure, IGT will redistribute Bugno's responsibilities among its Global Lottery and Global Gaming units, with strategic initiatives managed by the Strategy and Corporate Development support function.
International Game Technology (NYSE:IGT) announced a conference call for Tuesday, May 11, 2021, at 8:00 a.m. EDT to discuss its first quarter 2021 financial results. The results will cover the period ending March 31, 2021. Investors can join the call via a toll-free number or access a live webcast on IGT's Investor Relations website, with a replay available afterward. IGT is a leader in gaming solutions, offering a variety of gaming experiences across channels. For more details, visit www.IGT.com.
International Game Technology PLC (IGT) announced that Beatrice H. Bassey will not stand for re-election to the Board of Directors, effective after the AGM on May 11, 2021. Ms. Bassey's departure is attributed to other professional commitments and challenges from the COVID-19 pandemic. This withdrawal affects resolution number 5 regarding her reappointment, while the Board's size will reduce to ten directors following the AGM. The Board expressed gratitude for Ms. Bassey's contributions and wished her well in future endeavors.
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