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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 (NYSE: IGT) has announced a two-year contract extension with the Minnesota Lottery, allowing IGT to provide instant ticket games and related services through June 30, 2022. IGT has partnered with the Minnesota Lottery since 2010, successfully launching popular instant games such as 'Full of $500s' and 'Power $10'. The contract includes comprehensive instant ticket services, such as research, graphics support, and ticket production. This collaboration aims to enhance player engagement and support state services funded by lottery revenues.
International Game Technology (IGT) has expanded its sports betting operations into North Dakota through a partnership with the Turtle Mountain Band of Chippewa Indians. IGT will provide its PlaySports platform to support retail sports betting at Grand Treasure Casino in Trenton and Sky Dancer Casino in Belcourt. This marks North Dakota as the 15th state where IGT facilitates sports wagering, further solidifying its leadership in the U.S. sports betting market. IGT's technology will enhance casino entertainment, offering new betting experiences for customers.
International Game Technology PLC (IGT) announced that Scott Gunn, Senior VP of Corporate Affairs, will be inducted into the Lottery Industry Hall of Fame on Oct. 14 during a virtual ceremony. Gunn has extensive experience in managing government relations and driving lottery innovations which have significantly increased revenues in states like California. His leadership has positively impacted the global lottery sector, earning recognition for promoting excellence and integrity over a 25-year career.
International Game Technology (IGT) has expanded its PlaySports offering in the U.S. sports betting market by establishing an in-house Trading Team in Las Vegas. This team enhances the B2B sports betting solution, providing expert oddsmaking and localized pricing for pre-game and in-play bets. IGT PlaySports, already the most widely deployed solution in 14 states, aims to deliver a comprehensive service to both small and large operators, backed by IGT's trusted technology and market leadership.
International Game Technology PLC (IGT) has entered a long-term sports betting technology agreement with Boyd Gaming Corporation. This agreement will utilize IGT's PlaySports platform to enhance Boyd's retail sportsbooks and mobile sports app in Nevada. The phased rollout includes self-service PlaySports kiosks at Boyd's gaming venues. IGT aims to create a competitive omnichannel sports betting product, helping Boyd Gaming attract new players and increase revenue. IGT and Boyd have collaborated since 2018, extending their partnership across several states.
International Game Technology PLC (IGT) has announced a two-year contract extension with the New York Lottery, extending their collaboration until August 6, 2022. This extension includes the provision of 400 new GameTouch™ self-service vending machines and ongoing services such as terminal installation and maintenance. IGT aims to support the Lottery in maximizing its contributions to education, which exceed $68 billion. This partnership reinforces IGT's position in the global gaming industry as a leading technology provider for lotteries.
International Game Technology PLC (IGT) reported its Q2 2020 financial results, revealing a 48% drop in revenue to $637 million, largely due to COVID-19 restrictions. The company faced an operating loss of $94 million compared to a profit of $224 million in the previous year. Net loss reached $280 million, translating to a net loss per diluted share of $1.37. Despite these challenges, IGT's strategic cost-saving measures are expected to yield over $200 million in savings. The company maintains cash and liquidity of $2.3 billion, prioritizing cash generation amidst current market conditions.
International Game Technology (NYSE: IGT) has entered a multi-year agreement with FanDuel Group to enhance its presence in the U.S. sports betting market. IGT's PlaySports platform will support FanDuel Sportsbooks nationwide through September 2024, while PlayDigital's casino games will be available in states where FanDuel operates online casinos. This partnership builds on existing collaborations, expanding FanDuel's offerings and leveraging IGT's technology for an enhanced customer experience. The agreement aims to propel both companies' growth in the expanding U.S. gaming landscape.
International Game Technology (NYSE: IGT) is set to hold a conference call on August 4, 2020, to discuss its second quarter 2020 results. The call will start at 8:00 a.m. EDT and will be accessible via phone or a live webcast on the company's website. Participants can dial in using the toll-free number +1 844 842 7999 or for those outside the US, +1 612 979 9887 with conference ID 4889985. A replay will be available post-event. IGT continues to deliver innovative gaming solutions globally, emphasizing responsible gaming and strong regulatory relationships.
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