International Game Technology

International Game Technology PLC engages in the designing, manufacturing, and marketing of electronic gaming equipment, software, and network systems. It operates through the Global Lottery, Global Gaming, and Digital & Betting segments. The Global Lottery segment has responsibility for the worldwide traditional lottery and iLottery business, including sales, operations, product development, technology, and support. The Global Gaming segment includes iGaming, sports betting, sales, product management, studios, global manufacturing, operations, and technology. The Digital & Betting segment has full responsibility for the worldwide iGaming and sports betting activities. The company was founded on July 11, 2014 and is headquartered in London, the United Kingdom.

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IGT reports robust Q4 earnings, eyes growth and investment-grade rating

IGT's Q4 2022 performance showcased financial strength, operational excellence, and market leadership across lotteries, gaming, and digital segments.
While facing challenges like supply chain issues and cost inflation, the company aims for continued growth, improved margins, and investment-grade rating aspirations.
Opportunities lie in revenue expansion, cash flow generation, and strategic capital allocation, positioning IGT for sustained success and shareholder value creation.

IGT reports robust Q1 earnings, eyes M&A and global expansion

IGT's Q1 performance reflects strong revenue growth and margin improvement across key segments, underpinning a positive outlook for the full year.
While facing challenges such as rising labor costs and inflation, IGT remains focused on leveraging opportunities in M&A, product innovation, and market expansion.
The company's innovative product offerings, successful games, and strategic initiatives position it well for sustained growth and value creation in the evolving gaming industry landscape.
With a robust balance sheet, liquidity, and a proactive approach to addressing challenges, IGT demonstrates resilience and adaptability in navigating market dynamics and driving long-term success.

IGT reports strong Q2 earnings, evaluates strategic alternatives for growth

IGT's Q2 2023 earnings call highlighted solid financial performance, with revenue growth and margin improvement. The company is progressing towards its 2025 financial targets and remains focused on strategic initiatives to unlock business value. Despite challenges in the Global Lottery segment, IGT is optimistic about growth opportunities and is actively evaluating strategic alternatives.

IGT posts strong Q3 results, eyes growth amid strategic reviews

IGT's Q3 earnings call highlighted robust financial performance, strategic evaluations in progress, and a focus on growth, innovation, and meeting 2025 targets. Despite challenges in PlayDigital revenue and ongoing strategic reviews, the company remains well-positioned to capitalize on opportunities in the Lottery and Gaming sectors.

IGT reports record-breaking earnings, plans strategic spin-off and merger

IGT delivered strong financial performance in Q4 2023, achieving record-breaking results and demonstrating growth across key segments.
The company's strategic initiatives, including the planned spin-off and merger with Everi, highlight a focus on unlocking portfolio value and optimizing business operations.
While facing challenges in specific markets and potential industry slowdowns, IGT remains optimistic about revenue growth and profitability through international expansion and innovation.
With a solid financial foundation, a focus on talent and technology, and a commitment to long-term growth, IGT is well-positioned to navigate market challenges and capitalize on emerging opportunities.

IGT surpasses Q1 revenue expectations, eyes growth amid challenges

IGT's Q1 2024 showcased robust financial performance, driven by strong revenue growth and margin expansion across key segments.
Despite challenges like weather impacts and ongoing Italy Lotto license tender, the company remains optimistic about future growth prospects.
With upgraded revenue outlook, successful game development, and stable digital business, IGT is poised for continued success in 2024.

IGT sells gaming business, focuses on lottery growth and innovation

IGT's Q2 performance was marked by the sale of gaming and digital business, strong lottery segment growth, and positive outlook for future growth. Despite challenges in sale completion and Italy Lotto renewal, the company remains focused on leveraging opportunities for expansion and maintaining financial stability.

IGT reports solid Q3 performance amidst global sales decline

IGT's Q3 2024 performance reflects solid revenue and EBITDA figures, driven by continuing operations and successful game launches.
While facing challenges in global same-store sales decline, the company demonstrated strengths in lottery industry leadership and iLottery sales growth.
Opportunities lie in optimizing operations post-sale, expanding digital gaming offerings, and leveraging increased production capacity for future growth.
IGT's strategic focus on cost optimization and growth initiatives positions the company well to navigate market challenges and drive long-term success.

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International Game Technology PLC engages in the designing, manufacturing, and marketing of electronic gaming equipment, software, and network systems. It operates through the Global Lottery, Global Gaming, and PlayDigital segments. The Global Lottery segment has responsibility for the worldwide traditional lottery and iLottery business, including sales, operations, product development, technology, and support. The Global Gaming segment includes iGaming, sports betting, sales, product management, studios, global manufacturing, operations, and technology. The PlayDigital segment has full responsibility for the worldwide iGaming and sports betting activities. The company was founded in 1990 and is headquartered in London, the United Kingdom.

Apollo Global Management

Everi

International Game Technology PLC's stock IGT, +0.10% was up by nearly 18% and Everi Holdings Inc.'s stock EVRI, +4.70% was up by nearly 32% in premarket trading after the two lottery companies agreed to be acquired simultaneously by a new holding company owned by affiliates of Apollo Global Management Inc. APO, -0.05%. The all-cash deal values the gaming businesses at about $6.3 billion on a combined basis.

IGT and Everi rally on $6.3 billion acquisition deal with Apollo

Companies to Move Forward Under Private Ownership Everi Stockholders to Receive $14.25 Per Share in Cash, Representing a Significant Premium for Stockholders; IGT to Receive $4.05 Billion of Gross Cash Proceeds LONDON and LAS VEGAS , July 26, 2024 /PRNewswire/ -- International Game Technology PLC (NYSE: IGT) ("IGT") and Everi Holdings Inc. (NYSE: EVRI) ("Everi") today announced that they have entered into definitive agreements whereby IGT's Gaming & Digital business ("IGT Gaming") and Everi will be simultaneously acquired by a newly formed holding company owned by funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) ("Apollo") (the "Apollo Funds") in an all-cash transaction that values the acquired businesses at approximately $6.3 billion on a combined basis. On February 29, 2024, IGT and Everi announced that they had entered into definitive agreements pursuant to which IGT would separate the IGT Gaming business by way of a taxable spin-off to IGT shareholders and then immediately combine such business with Everi.

IGT's Gaming and Digital Business and Everi to Be Acquired Simultaneously by Apollo Funds in All-Cash Transaction

The consensus price target hints at a 30.8% upside potential for IGT (IGT). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

Does IGT (IGT) Have the Potential to Rally 30.81% as Wall Street Analysts Expect?

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Should Value Investors Buy International Game Technology (IGT) Stock?

IGT (IGT) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.

Here Is Why Bargain Hunters Would Love Fast-paced Mover IGT (IGT)

Company earned top score in the 2024 Disability Equality Index for the second consecutive year in the U.S. and first time in the UK for recognizing disability inclusion in the workplace LONDON , July 18, 2024 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that it earned a top score in the 2024 Disability Equality Index® and was named a "Best Place to Work for Disability Inclusion" for the second consecutive year in the U.S. and the first time in the UK. In 2024, IGT received a score of 100 and was one of 542 corporations that utilized the Disability Equality Index to benchmark their disability inclusion efforts.

IGT Named "Best Place to Work for Disability Inclusion" by the 2024 Disability Equality Index

Longtime industry visionary to be honored during World Lottery Summit 2024 LONDON , July 17, 2024 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that Renato Ascoli, IGT CEO Global Lottery, will be inducted into the Lottery Industry Hall of Fame as a member of the Class of 2024. Ascoli will be honored later this year at an event hosted by the Public Gaming Research Institute (PGRI) in conjunction with the World Lottery Summit in Paris.

IGT CEO Global Lottery Renato Ascoli Inducted into Lottery Industry Hall of Fame

International Gaming Technology PLC NYSE: IGT provides worldwide electronic gambling, gaming, and lottery products and services. It's well known for providing most of the slot machines in Las Vegas in the pre-pandemic era.

Major Gaming Stock to Watch: Why It's a Safe Bet Now

Company exhibits leading sustainability practices in 17th annual report LONDON , July 10, 2024 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today the release of its 2023 Sustainability Report, showcasing the Company's strong commitment to global sustainability and continued growth of its environmental, social and governance (ESG) performance driven by its Sustainable Play™ initiatives.    "The 2023 IGT Sustainability Report highlights our ongoing global sustainability initiatives that endeavor to positively impact our people and our planet, as we continue to demonstrate measurable progress towards our Sustainable Play initiatives," said Vince Sadusky, IGT CEO.

IGT Highlights Environmental, Social and Governance Accomplishments with 2023 Sustainability Report

Company signs five-year contract to resume supplying its instant ticket games to the region LONDON , July 9, 2024 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE:IGT) today announced that its subsidiary, IGT Global Solutions Corporation, has signed a five-year contract with Organización Nacional de Ciegos Espanoles ("ONCE") to print exciting instant ticket games for lottery players in Spain. As part of the contract, which runs through 2029, IGT will print a portion of ONCE's new instant tickets.

IGT Boosts Instant Ticket Offering in Spain with Compelling New Games for ONCE

Company will deploy new lottery central system, upgrade all retailer equipment and launch a mobile convenience app with Scan and Redeem as part of seven-year contract LONDON , July 8, 2024 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE:IGT) today announced that its subsidiary, IGT Global Solutions Corporation, has signed a seven-year contract with the Colorado Lottery to install all-new world-class products and solutions. The contract is expected to run through July 12, 2032, and includes seven, one-year extension options.

IGT Inks Long-Term Contract with Colorado Lottery to Enhance Retailer and Player Solutions

One of the gaming industry's most celebrated land-based multi-level progressive games is now available online in five US states LONDON , July 8, 2024 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that IGT PlayDigital™ recently added the highly anticipated Prosperity Link™ game to its iGaming content library in the U.S. This development makes the widely recognized casino game available for commercial iGaming operators in Pennsylvania, Michigan, New Jersey, Connecticut and West Virginia. "Providing our customers with multi-channel content such as Prosperity Link is an important differentiator for IGT PlayDigital and a cornerstone of our global content strategy," said Gil Rotem, IGT PlayDigital President.

IGT PlayDigital Announces US iGaming Market Arrival of Award-Winning Prosperity Link Game

Churchill Downs

Malta's National Lottery becomes first gaming operator outside the US to offer HHR solutions supporting international expansion for IGT and Exacta Systems LONDON , July 3, 2024 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) and Churchill Downs Incorporated ("CDI") (Nasdaq: CHDN) announced today that they have expanded their HHR technology footprints to Malta via an agreement with National Lottery plc, a subsidiary of IZI Group. Per the agreement, IGT product will initially represent 100-percent HHR floor share at National Lottery's first HHR venue, IZIBINGO situated in St. Paul's Bay, and Exacta Services, Inc., a subsidiary of CDI, will power the property's gaming floor with its Exacta Connect® system solution.

IGT and Churchill Downs Incorporated Pioneer Historical Horse Racing ("HHR") in Malta with National Lottery plc

LONDON , July 2, 2024 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE:IGT) will host a conference call and live webcast to discuss second quarter 2024 results for the period ended June 30, 2024 on Tuesday, July 30, 2024 Conference call details: Tuesday, July 30, 2024 8:00 a.m. EDT Conference call registration: Participants are encouraged to pre-register for the conference call by clicking here.

International Game Technology PLC to Host Second Quarter 2024 Results Conference Call on Tuesday, July 30, 2024

LONDON , June 25, 2024 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE:IGT) today announced that it has won a competitive bidding process to provide the Ohio Lottery Commission's video lottery terminal (VLT) central monitoring system, with a contract effective May 31, 2024 through June 30, 2033. The agreement includes an option for Ohio to renew the contract for up to two additional one-year terms.

IGT Awarded Contract for Video Lottery Terminal Central Monitoring System by Ohio Lottery Commission

The consumer discretionary segment could offer potential value for contrarian plays on valuation. International Game Technology PLC shows potential for such a valuation repricing in my view at 6.8x trailing NOPAT. Strong Q1 results and revised sentiment could drive multiple expansion and see ~$31 share in my view.

International Game Technology: Regaining Steam At Attractive Multiples

IGT's winning formula for multi-level progressive games continues with Tiger and Dragon performing at 2.89X zone average, leading "Top Indexing NEW Games – Premium Leased and WAP" category LONDON , May 28, 2024 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that its Tiger and Dragon multi-level progressive ("MLP") game debuted in the number-one position on Eilers & Krejcik's May 2024 US & Canada Game Performance Report in the "Top Indexing NEW Games – Premium Leased & WAP" category. Tiger and Dragon Cash on Reels took the top position by performing at more than 2.8X zone average and Tiger and Dragon Multipliers ranked third for performing at more than 2.5X zone average.

IGT's Tiger and Dragon Game Debuts in #1 Position on Eilers & Krejcik's US & Canada Game Performance Report

LONDON , May 28, 2024 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE:IGT) today announced that its subsidiary, IGT Global Solutions Corporation, has extended its contracts with the Mississippi Lottery Corporation ("Mississippi Lottery") for an additional three years to continue providing online gaming systems and instant ticket services through Dec. 1, 2029. As part of the agreements, IGT will deploy a mobile convenience app, new GameTouch™ 28 self-service terminals and its Sales Wizard retail automation tool.

IGT to Optimize Player Convenience and Retail Solutions for Mississippi Lottery via Three-Year Contract Extension

Las Vegas Sands

MGM Resorts

As we approach the midpoint of the year, it's crucial for investors to reassess their portfolios and identify potential risk factors. The gambling industry was once seen as a thriving sector with promising growth prospects.

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Tapestry

Marriott Vacations Worldwide

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.

These 3 Consumer Stocks With Over 3% Dividend Yields Are Recommended By Wall Street's Most Accurate Analysts - Marriott Vacations (NYSE:VAC)

Global gaming company International Game Technology PLC NYSE: IGT is best known for supplying a majority of the slot machines in Las Vegas. However, the consumer discretionary sector company has additional revenue streams focusing on lotteries, digital gaming and sports betting.

International Game Technology Isn't Playing Games With Guidance

Dazzling new theme introduces innovative mechanics and gameplay features on proven hardware LONDON , May 20, 2024 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that its new multi-level progressive ("MLP") game, Tiger and Dragon™, recently debuted on casino floors across the U.S. Available on the sleek PeakCurve™49 cabinet, Tiger and Dragon combines new and proven mechanics with high bonus frequencies for an action-packed entertainment experience. "We made a commitment to advancing IGT's game performance with strong multi-level progressive content and leveraged our extensive research and focus group capabilities to achieve this with the award-winning Prosperity Link and Mystery of the Lamp MLP games," said Dubravka Burda, IGT SVP Global Studios.

IGT Continues Multi-Level Progressive Momentum with New Tiger and Dragon Game on the PeakCurve49 Cabinet

Casino grows sports betting partnership with IGT PlaySports™ to include technology and services LONDON , May 16, 2024 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that its IGT PlaySports Trading Advisory Services Team is now supporting sports betting in Michigan via a new services agreement with the Lac Vieux Desert Northern Waters Casino & Resort in Watersmeet. In addition to now leveraging IGT PlaySports' expertise for a range of trading-related services, Northern Waters has powered its sportsbook with IGT's award-winning platform and self-service betting technology since 2021.

IGT PlaySports Launches Trading Advisory Services in Michigan with Lac Vieux Desert Northern Waters Casino & Resort

International Game Technology PLC (NYSE:IGT ) Q1 2024 Earnings Conference Call May 14, 2024 8:00 AM ET Company Participants James Hurley - SVP, IR Vincent Sadusky - CEO Massimiliano Chiara - CFO Conference Call Participants Barry Jonas - Truist Securities Jeff Stantial - Stifel David Katz - Jefferies Chad Beynon - Macquarie Joe Stauff - Susquehanna David Hargreaves - Barclays Operator Thank you for standing by. My name is Krista and I will be your conference operator today.

International Game Technology PLC (IGT) Q1 2024 Earnings Call Transcript

Although the revenue and EPS for IGT (IGT) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

News for International Game Technology Stock (IGT)