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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 (IGT) has secured a long-term contract with the Maryland Lottery and Gaming Commission to upgrade the video lottery central system, enhancing connectivity for over 11,500 video lottery terminals and electronic table games across Maryland's six casinos. This contract, valid until September 2028 with a four-year extension option, includes the deployment of IGT's advanced INTELLIGEN system, which improves system monitoring and operational management. IGT has been the sole provider of VLT systems in Maryland since 2010, showcasing its commitment to the state's gaming success.
International Game Technology PLC (IGT) announced the release of its Notice of the 2021 Annual General Meeting (AGM) and the 2020 Annual Report. The AGM will take place on May 11, 2021, in London, at 3:00 p.m. BST, as a closed meeting due to COVID-19 restrictions. Shareholders cannot attend in person but are encouraged to vote via proxy. Proxy votes are due by May 7, 2021, at 3:00 p.m. BST. The AGM will be limited to formal business and shareholder questions can be submitted in advance. Further updates will be provided on IGT's website.
International Game Technology (NYSE:IGT) has confirmed the completion of conditions for the full redemption of its 6.250% Senior Secured Notes due 2022, effective March 26, 2022. This follows the successful sale of $750,000,000 in 4.125% Senior Secured Notes due 2026. The redemption aims to improve financial structure and liquidity.
IGT (NYSE:IGT) filed its 2020 Annual Report on Form 20-F with the U.S. Securities and Exchange Commission on March 2, 2021, detailing audited financial statements for the year ended December 31, 2020. The report is accessible to shareholders via the company's Investor Relations website and the SEC's site. IGT has committed to providing free hard copies of the report upon request. As a leading gaming company, IGT offers diverse gaming experiences across multiple platforms and has established relationships with regulators worldwide.
International Game Technology PLC (IGT) announced a multi-year licensing agreement with Authentic Brands Group (ABG) to develop exclusive Elvis Presley-themed lottery games in the U.S. and Canada. The partnership will cover instant tickets, draw-based games, and mobile interactive experiences. IGT aims to enhance the lottery community by offering innovative games and second-chance promotions. Elvis Presley remains a significant cultural figure, with over 15 million social media followers, underscoring the potential popularity of these new games.
International Game Technology PLC (IGT) has successfully priced $750 million of 4.125% Senior Secured Notes due 2026. The proceeds will be used to redeem its existing 6.250% Notes due 2022. The redemption, scheduled for March 26, 2022, is contingent on receiving the proceeds from the sale of the new Notes. Listing applications for the Notes on Euronext Dublin have been made, with settlement expected by March 25, 2021. This issuance represents a strategic move to manage IGT's debt and optimize financial performance.
On March 16, 2021, IGT announced a benchmark offering of senior secured notes due 2026, aimed at institutional buyers. The funds will be used to redeem existing 2022 Notes at a make-whole premium and cover debt issuance costs. The offering is subject to normal market conditions and will be listed on Euronext Dublin. The notes are not registered under the Securities Act and won't be available to the general public in the U.S., targeting only qualified investors. The announcement underscores IGT's focus on financial restructuring and capital management.
International Game Technology PLC (IGT) reported its financial results for Q4 and full year 2020. Total revenue for Q4 was $885 million, down 15% year-over-year, while full-year revenue decreased 23% to $3.12 billion. Global Lottery revenue rose 11% in Q4, but Global Gaming faced a 46% decline. IGT generated $866 million in cash from operating activities, with significant liquidity improvements to over $2.7 billion. Notably, a temporary cost savings of $500 million was achieved in 2020. The company plans to enhance shareholder value with ongoing restructuring efforts.
International Game Technology (IGT) and Scientific Games have entered a cross-licensing agreement for cashless slot gaming technologies. This partnership allows both companies to utilize each other's patented cashless gaming technology, enhancing casino operators' ability to adopt cashless systems. While financial terms are undisclosed, the collaboration aims to improve player experience, safety, and operational efficiency in casinos. IGT's CEO highlighted the significance of this agreement as a revolutionary advancement in cashless payments in the gaming industry.
International Game Technology and Scientific Games have signed a cross-licensing agreement for patents regarding cashless slot gaming technologies. This collaboration allows both companies to offer their patented solutions to the U.S. gaming industry. While financial terms remain undisclosed, the partnership aims to enhance the adoption of cashless technology, improving player safety and casino operating efficiencies. IGT's CEO, Renato Ascoli, emphasizes the importance of this technology for modern gaming experiences.
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