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 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.
International Game Technology (IGT) has launched its new PeakSlant49 casino gaming cabinet across U.S. casinos, featuring a 49-inch ultra-HD touchscreen and advanced player-friendly technology. The cabinet is designed to enhance the player experience and comes loaded with popular game titles, including the Fortune Coin Boost! and Bubble Blast. The cabinet's innovative features include a Dynamic Player Panel, wireless charging, and striking intelligent lighting, aimed at attracting players and boosting casino revenues.
International Game Technology (IGT) announced its partnership with Emerald Queen I-5 Casino in Tacoma, Washington, to utilize the IGT ADVANTAGE casino management system. This system will enhance the casino's loyalty program and operational efficiency. IGT's CrystalCurve and CrystalDual 27 cabinets dominate the casino's gaming floor, offering a diverse range of game titles. The implementation of mobile systems allows staff to monitor events efficiently while adhering to health guidelines. This collaboration marks a significant advancement for both IGT and Emerald Queen Casino in delivering an enriched gaming experience.
IGT (NYSE: IGT) announced that its video gaming terminals, CrystalDual 27 and CrystalSlant, received approval from the Pennsylvania Gaming Control Board. This allows IGT to place these terminals in qualified truck stop locations across Pennsylvania. The approval is expected to enhance IGT's gaming operations in the state, where it has a strong market presence. The CrystalDual 27 offers dual 27-inch displays, while the CrystalSlant features an ergonomic design, both supporting popular games like Stinkin' Rich and Red Hot Tamales. IGT aims to leverage this opportunity to increase visitation to gaming venues.
International Game Technology (IGT) announced the launch of its innovative PeakBarTop cabinet, now live at various casinos including Cache Creek and Golden Nugget. This next-gen bartop hardware features a 23-inch curved display, advanced lighting, and integrates IGT's extensive game library, including popular titles like Game King and Da Vinci Diamonds Keno. The PeakBarTop is designed to enhance the gaming experience with added conveniences like a front-mounted ticket printer and USB charging ports. IGT aims to dominate the bartop market with this technologically advanced solution.
International Game Technology (IGT) has announced a new organizational structure focused on two main segments: Global Gaming and Global Lottery. This change, effective July 1, 2020, aims to improve customer responsiveness and operational efficiency. Marco Sala, CEO, emphasizes a customer-first mentality. Key appointments include Renato Ascoli and Fabio Cairoli as CEOs of their respective segments. This restructuring will streamline financial reporting, beginning Q3 2020, consolidating key capabilities and fostering collaboration across product categories.
On June 29, 2020, International Game Technology PLC (NYSE: IGT) announced a partnership with Swedish lottery operator Svenska Spel Sport & Casino AB. IGT will deliver its PlayDigital's PlayRGS (remote game server) and PlayCasino content, enhancing Svenska Spel's digital gaming offering. The three-year agreement includes comprehensive access to IGT's entire game library, along with maintenance and support. Additionally, IGT will provide PlayPoker, VLT systems, and IGTPay technology for cashless transactions, reflecting IGT's commitment to responsible gaming and digital growth in Sweden.
International Game Technology (IGT) announced on June 22, 2020, the results of its capped cash Tender Offer for its 6.250% Senior Secured Notes due 2022. The company has accepted $499,999,000 of the Notes, subject to a proration factor of 42.551%. Furthermore, IGT completed the sale of $750,000,000 in new 5.25% Senior Secured Notes due 2029, using proceeds to fund the Tender Offer, which raised the Maximum Tender Amount from $300 million to $500 million. The Tender Offer expires on July 6, 2020.
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