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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 achieved a significant milestone in cashless gaming by receiving final regulatory approval in Nevada for its Resort Wallet™ carded cashless module. This module, part of the award-winning IGT ADVANTAGE® system, allows casino patrons to enjoy a safer, cashless gaming experience. Players can easily transfer funds into a digital wallet using a loyalty card, facilitating a seamless gaming experience across various platforms, including slots and table games. This enhances operational efficiency and reduces cash handling risks.
International Game Technology PLC (NYSE: IGT) announced a strategic agreement to exclusively license the intellectual property of its GALAXIS™ and SYSTEM2Go™ casino central management systems to Modulus S.a.r.l. The deal, effective Dec. 18, 2020, allows Modulus to commercialize and distribute IGT's CMS solutions and legacy hardware, excluding North America. This partnership aims to enhance customer service and reduce resource duplication for IGT, enabling focus on its innovative IGT ADVANTAGE CMS. The agreement is subject to regulatory approvals.
International Game Technology (IGT) announced the successful deployment of its IGT ADVANTAGE Casino Management System at the reopened Carousel Casino in South Africa. This installation marks the first use of the IGT ADVANTAGE Resort Wallet card cashless module in the country, enhancing operational efficiency and guest experience. The system connects 400 machines and includes features for machine accounting, patron management, and dynamic content creation. IGT's proven solutions aim to maximize revenue and player loyalty at Carousel Casino.
International Game Technology (NYSE: IGT) has announced a multi-year partnership with Maverick Gaming to provide its PlaySports platform for retail and mobile sports betting across three casinos in Colorado. The collaboration includes deploying self-service kiosks and a mobile app, Play Maverick Sports, enhancing the gaming experience in the region. IGT's technology aims to attract new players and optimize sports betting operations. This agreement positions IGT to leverage its experience in 15 U.S. states to support Maverick Gaming's growth in Colorado.
On Nov. 19, 2020, International Game Technology (NYSE: IGT) announced it has secured a tender from Norsk Tipping, Norway's state lottery operator, to supply its PlayCasino content and PlayRGS digital platform. This agreement, effective February 2021, allows for a three-year term with a one-year extension option. IGT will provide its proprietary games along with third-party content from NetEnt and ELKAB Studios. This marks a continuation of a long-standing partnership, as IGT has been a supplier since 2012, enhancing Norsk Tipping's digital gaming offerings.
International Game Technology PLC (NYSE: IGT) has secured a seven-year contract with the Nebraska Lottery, becoming the primary vendor for instants and draw-based games until June 30, 2028, with possible extensions. IGT will upgrade the Lottery's central system to its Aurora platform and provide terminal equipment at around 1,200 retail locations. The contract aims to enhance the Lottery's sales through innovative game solutions and strategic instant ticket game management. This partnership reflects the longstanding collaboration between IGT and the Nebraska Lottery.
International Game Technology PLC (IGT) reported third-quarter 2020 results showing consolidated revenue of $982 million, down 15% year-over-year, yet strong performance in the lottery segment drove a 3% revenue increase to $570 million. Adjusted net income rose 25% to $54 million despite a net loss of $128 million, primarily due to non-cash foreign exchange losses. IGT generated $220 million in positive free cash flow and improved liquidity to $2.55 billion. The company aims for over $200 million in structural savings over the next two years while managing ongoing pandemic impacts.
International Game Technology (IGT) announced the installation of its IGT ADVANTAGE™ casino management system at Bao Son International Hotel Versaces Club in Hanoi, Vietnam. The upgrade will operate the club's loyalty program, optimize the casino floor, and implement the Lucky Coin bonusing module to enhance player engagement. IGT's systems aim to improve operational efficiency and drive long-term success by increasing player loyalty and entertainment.
International Game Technology PLC (NYSE: IGT) will host a conference call and live webcast on November 12, 2020, at 8:00 a.m. EST, to discuss third quarter 2020 results. Investors can access the live webcast on IGT's Investor Relations website, with a replay available after the event. Participants can join via toll-free numbers for the US/Canada or an international line, using conference ID 9189642. IGT is a leading gaming company providing responsible gaming experiences across various channels and has around 12,000 employees globally.
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