Welcome to our dedicated page for International Game Technology news (Ticker: IGT), a resource for investors and traders seeking the latest updates and insights on International Game Technology 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 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.
International Game Technology (IGT) announced the nationwide launch of its new PeakSlant49 Wheel cabinet, enhancing its Wheel of Fortune slot games. This cabinet debuted at ARIA Resort & Casino in Las Vegas and Foxwoods Resort Casino in Connecticut. Standing nearly nine feet tall, it features advanced technology including a 49-inch ultra-HD touchscreen, intelligent lighting, and USB charging ports. The cabinet launched with the Wheel of Fortune Mystery Link game, showcasing player-selectable themes and innovative game mechanics that aim to drive casino visitation and elevate the gaming experience.
IGT (NYSE:IGT) has secured a seven-year contract with Poland's national lottery operator, Totalizator Sportowy, to enhance its lottery system. This agreement includes upgrades to a new central system, more than 19,000 lottery terminals, and 500 GameTouch™ 28 vending machines, aimed at improving sales and player engagement. With an option for a three-year extension, the partnership reflects a commitment to innovation and performance in the lottery sector, leveraging IGT's advanced technologies.
International Game Technology PLC (NYSE: IGT) announced a seven-year contract extension with the Western Canada Lottery Corporation (WCLC) to enhance its video lottery system in Saskatchewan. IGT will implement its latest INTELLIGEN™ systems software to manage 4,200 video lottery terminals (VLTs). The upgrade is expected to enhance network performance and security, with final acceptance anticipated by September 1, 2021. This partnership, established nearly 40 years ago, aims to improve player experience and drive revenue growth.
On October 29, 2020, International Game Technology (IGT) responded to an investigation by the Italian Judicial Authority regarding alleged misconduct by four current and two former employees of its subsidiary, Lottomatica. The misconduct involves attempts to gain unauthorized access to Lottomatica's systems to identify winning scratch-off tickets. IGT is cooperating fully with authorities and has suspended the involved employees as a preventive measure, while also reviewing its internal processes to prevent fraud and ensure integrity.
International Game Technology PLC (IGT) has launched the PeakSlant32™ cabinet, the first slot cabinet in North America featuring three 32-inch displays. The debut took place at Mohegan Sun in Connecticut, where over 20 cabinets were introduced. This innovative cabinet integrates Bluetooth technology, advanced audio-visual features, and a Dynamic Player Panel for enhanced gaming experiences. Initially, it showcases popular titles like Wu Dragon™ and Treasure Box™. The PeakSlant32 is part of IGT's commitment to providing exceptional gaming solutions and is the third addition to its Peak series in 2020.
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