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International Game Technology PLC - IGT STOCK NEWS

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.

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IGT and Everi have announced a significant change to their previously announced merger plans. Instead, both IGT's Gaming & Digital business (IGT Gaming) and Everi will be simultaneously acquired by Apollo Global Management in an all-cash transaction valued at approximately $6.3 billion. Under the new agreement:

- Everi stockholders will receive $14.25 per share in cash, a 56% premium over the July 25, 2024 closing price.
- IGT will receive $4.05 billion in gross cash proceeds for IGT Gaming.
- The transaction is expected to close by the end of Q3 2025, subject to regulatory approvals and Everi stockholder approval.

This deal replaces the previously announced spin-off and merger between IGT Gaming and Everi. Post-closing, IGT will become a pure-play lottery business, while IGT Gaming and Everi will operate as privately owned companies under Apollo's ownership.

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IGT (NYSE: IGT) has been recognized as a 'Best Place to Work for Disability Inclusion' by the 2024 Disability Equality Index, earning a top score of 100. This marks the second consecutive year for IGT in the U.S. and the first time in the UK. The Disability Equality Index, now in its 10th year, is a comprehensive benchmarking tool for Fortune 1000 companies to measure disability workplace inclusion.

IGT's achievement reflects its commitment to creating an inclusive culture where employees can succeed. The company has implemented various programs and practices to promote diversity, including more inclusive hiring processes, accommodating benefits, and employee training courses. IGT's Office of Diversity, Equity, and Inclusion, established in 2018, has been instrumental in driving these initiatives.

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IGT announced that Renato Ascoli, IGT CEO Global Lottery, will be inducted into the Lottery Industry Hall of Fame as part of the Class of 2024. With nearly 20 years of experience in the lottery and gaming industries, Ascoli has been instrumental in driving new business and innovation. In his current role, he oversees global lottery and iLottery operations for IGT's 90-plus lottery customers worldwide.

Key achievements under Ascoli's leadership include launching sports betting with the Rhode Island Lottery, partnering with the Mississippi Lottery, deploying lottery terminals in Walmart stores, and rolling out IGT's Cash Pop™ draw game. Previously, he served as General Manager of GTECH S.p.A. and was instrumental in sustaining the Gratta e Vinci instant ticket brand in Italy and securing the exclusive Lotto concession.

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International Game Technology (IGT) has released its 2023 Sustainability Report, emphasizing its dedication to environmental, social, and governance (ESG) initiatives through its Sustainable Play™ program. This 17th annual report highlights four core sustainability pillars: valuing and protecting employees, advancing responsibility, supporting communities, and fostering sustainable operations.

Key achievements include Top Employer certification for U.S., Canada, and Italy, top score in the Human Rights Campaign Foundation's Corporate Equality Index, and G4 re-certification for responsible gaming. IGT also opened 15 new After School Advantage (ASA) labs, including its 350th, and introduced a STEAM-focused curriculum. Environmental efforts were bolstered by Science Based Targets initiative validation and climate-related risk analyses.

For more details, visit IGT.com

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International Game Technology (IGT) has signed a five-year contract with Organización Nacional de Ciegos Españoles (ONCE) to print new instant ticket games for the Spanish lottery. This contract, effective through 2029, will see IGT's subsidiary, IGT Global Solutions , supply a portion of ONCE's instant tickets, reinforcing a partnership that has lasted over two decades. Francisco José Martínez Palao of ONCE highlighted IGT's industry-leading products as a reason for the collaboration's renewal. Jay Gendron, IGT's COO, expressed excitement about expanding their lottery portfolio in Spain. IGT serves as the primary technology provider to many top lotteries globally, including 26 in the U.S.

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International Game Technology (IGT) has secured a seven-year contract with the Colorado Lottery to deploy its Aurora™ central system and upgrade all retailer equipment. The contract, potentially extending through 2032, includes options for seven additional one-year extensions. This new system, part of IGT's OMNIA™ integrated lottery solution, aims to provide enhanced marketing communications and a comprehensive player experience. Additionally, IGT will launch a mobile app with Scan and Redeem functionality, allowing players to redeem winnings via ACH transfer. IGT serves as the main technology provider for numerous global lotteries, including 26 in the U.S.

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International Game Technology (IGT) announced the digital release of its acclaimed Prosperity Link slot game for iGaming platforms in Pennsylvania, Michigan, New Jersey, Connecticut, and West Virginia. This move extends the popular land-based game, which features a 5x3 reel configuration and 243 ways to win, into the online space, aiming to leverage its existing fanbase. The game, celebrated for its Money Balls and Prosperity Pots mechanics, won the 'Best Slot Product' at the 2022 GGB Gaming & Technology Awards. IGT plans to release more Prosperity Link titles online throughout 2024.

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International Game Technology (IGT) and Churchill Downs Incorporated (CDI) have expanded their Historical Horse Racing (HHR) technology to Malta through a partnership with National Lottery plc, a subsidiary of IZI Group. This marks the first HHR deployment outside the United States. IGT's products will initially dominate the HHR floor at IZIBINGO in St. Paul's Bay, with CDI's Exacta Systems providing the Exacta Connect® system solution for the gaming floor. The launch will include over 80 IGT HHR games on IGT hardware such as PeakSlant™49 and Cobalt™27 cabinets. IGT and Exacta will also support HHR offerings at other National Lottery venues in Malta. This collaboration aims to innovate and expand the National Lottery's operations internationally.

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International Game Technology PLC (IGT) has scheduled a conference call and live webcast to discuss its second quarter 2024 results on July 30, 2024. The results will cover the period ending June 30, 2024. The call is set to start at 8:00 a.m. EDT. Participants are advised to pre-register to receive a dial-in number and PIN. The webcast will be accessible on IGT's Investor Relations website, with a replay also available post-call.

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International Game Technology (IGT) has secured a contract with the Ohio Lottery Commission to provide a video lottery terminal (VLT) central monitoring system. The contract, effective from May 31, 2024, to June 30, 2033, includes an option for two additional one-year renewals. IGT will deploy its Intelligen™ central monitoring system to oversee over 10,000 VLT machines across seven racinos in Ohio. Nick Khin, IGT's Chief Operating Officer, emphasized that winning this competitive bid highlights the company's innovation and dedication to monitoring systems.

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FAQ

What is the current stock price of International Game Technology PLC (IGT)?

The current stock price of International Game Technology PLC (IGT) is $19.19 as of November 18, 2024.

What is the market cap of International Game Technology PLC (IGT)?

The market cap of International Game Technology PLC (IGT) is approximately 3.9B.

What are the main business segments of IGT?

IGT operates through three primary business segments: Global Lottery, Global Gaming, and PlayDigital.

Where is IGT headquartered?

IGT is headquartered in London, England.

What recent contracts has IGT signed?

IGT recently signed contracts with the Atlantic Lottery in Canada and extended its contract with the Mississippi Lottery to continue providing online gaming systems and instant ticket services through 2029.

What is IGT’s Global Lottery segment?

IGT’s Global Lottery segment provides lottery products and services to governmental organizations under various contractual agreements, and it generates the highest revenue for the company.

How does IGT support responsible gaming?

IGT ensures responsible gaming by adhering to the highest standards of service and integrity, and by providing entertaining yet responsible gaming experiences across all channels.

How many employees does IGT have?

IGT employs approximately 11,000 people globally.

What was the outcome of IGT’s legal disputes with Acres Manufacturing Company?

IGT resolved all legal disputes with Acres Manufacturing Company, allowing both companies to focus on driving innovation in the cashless gaming space.

What are IGT’s recent financial highlights?

For the first quarter of 2024, IGT reported consolidated revenue of $1.07 billion and upgraded its full-year revenue and profit goals due to strong performance in its key segments.

Which markets does IGT serve?

IGT serves markets globally, with a significant presence in over 100 jurisdictions, including a major revenue contribution from the United States.

What technologies does IGT use to enhance gaming experiences?

IGT leverages advanced technologies such as cloud-based remote game servers, sophisticated gaming hardware, and comprehensive digital content to provide top-notch gaming experiences.

International Game Technology PLC

NYSE:IGT

IGT Rankings

IGT Stock Data

3.90B
202.00M
43.9%
48.75%
0.9%
Gambling
Consumer Cyclical
Link
United States of America
London