Welcome to our dedicated page for International Game Technology PLC news (Ticker: IGT), a resource for investors and traders seeking the latest updates and insights on International Game Technology PLC stock.
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) 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.
International Game Technology PLC (IGT) has launched the Wheel of Fortune® Megaways™ slots game on its IGT PlayDigital platform, achieving record performance in New Jersey and expanding into European markets. The game combines the classic Wheel of Fortune theme with Big Time Gaming's Megaways mechanic, offering players multiple winning ways. BetMGM reported that the game quickly became a top performer, enhancing player engagement and retention. As IGT aims for global expansion in 2021, the new offering strengthens its online portfolio during a period of crucial digital gaming growth.
International Game Technology PLC (IGT) announced the replacement of a competitor's system with its IGT ADVANTAGE Casino Management System at Circus Circus hotel and casino in Las Vegas. This deployment, scheduled for Q2 2021, will connect all 1,100 gaming machines and integrate various operational systems including food and beverage and hotel management. The IGT ADVANTAGE CMS aims to enhance operational efficiency, improve patron experience, and support future growth in technological advancements.
International Game Technology (IGT) will conduct a conference call and live webcast on March 2, 2021, to present its fourth-quarter and full-year 2020 results. The call is scheduled for 8:00 a.m. EST. Interested parties can join via a toll-free number or a live webcast on IGT's website. A telephone replay will also be available for one week following the call. IGT is a leader in the global gaming industry, providing innovative gaming experiences worldwide.
On February 16, 2021, International Game Technology PLC (IGT) announced the extension of its agreement with Mexico's national lottery, LOTENAL, until March 2, 2022. This contract continues IGT's provision of an integrated draw-based and instant ticket system, lottery terminals, and ongoing services across 8,200 terminals nationwide. IGT's Chief Operating Officer, Jay Gendron, emphasized the company's long-standing relationship with LOTENAL, which has lasted over 30 years, and its commitment to supporting social programs in Mexico.
International Game Technology (IGT) has expanded into Virginia's historical horse racing (HHR) market by deploying its first historical racing machines (HRMs) through a partnership with Exacta Systems. The rollout includes popular IGT video slot themes on advanced gaming cabinets, allowing players at Peninsula Pacific Entertainment venues to experience new gaming options. This initiative is expected to enhance player engagement and drive growth in Virginia's expanding HHR market, adding to IGT's existing presence in Kentucky.
International Game Technology (IGT) announced a four-year extension with Kentucky Lottery Corporation to enhance its iLottery offerings. This contract extends their collaboration through July 2026, allowing IGT to provide additional engaging content, including the patented Cash Pop game and new draw games for the digital platform. The partnership has been in place since the Lottery's inception in 1989, and with this extension, IGT aims to leverage analytics to grow iLottery operations while modernizing the digital portfolio to meet evolving player needs.
International Game Technology (IGT) announced its PlaySports platform is now powering the FanDuel Sportsbook mobile app in Virginia. This partnership enables sports betting in twelve U.S. states, with nine featuring the IGT-powered app. IGT has been a key partner for FanDuel since 2018, reinforcing their exclusive retail platform agreement. The cooperation is aimed at enhancing user experience and expanding market reach. IGT continues to strengthen its position in the gaming industry through innovative technology and substantial investments, catering to a growing demand for sports betting.
International Game Technology (IGT) announced its PlaySports platform is now powering the FanDuel Sportsbook mobile app in Michigan, enhancing online sports betting and iGaming options. This deployment represents the ninth state collaboration with FanDuel, allowing players access to popular IGT PlayDigital casino games. With Michigan's growing sports betting market, IGT aims to support FanDuel's expansion, providing customers with convenient access to sports and casino games. This partnership solidifies IGT's position in the market as a leading technology provider.
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