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.

Company wins "Lottery Product of the Year" for second straight year at the International Gaming Awards and named "Best Diversity and Inclusion Employer" for third consecutive year at the European Casino Awards LONDON , Feb. 12, 2024 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that it was recognized with top honors in two industry-leading award programs held in conjunction with ICE London: the International Gaming Awards and the European Casino Awards. IGT won the following awards last week in London: International Gaming Awards: Multidimensional omnichannel games win "Lottery Product of the Year.

IGT Recognized with Top Honors at ICE London 2024 Award Programs

LONDON, Feb. 1, 2024 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE:IGT) today announced that its subsidiary, IGT Global Solutions Corporation, has extended its contract with UAB Perlas Network ("Perlas") for an additional 12 years until 2035. As part of the agreement, IGT will provide upgrades to the Lottery's central retail system including advanced software and user interfaces.

IGT Signs 12-Year Contract Extension with UAB Perlas Network in Lithuania to Deploy Upgraded Central System Software

LONDON , Jan. 29, 2024 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that it will showcase a comprehensive portfolio of performance-focused gaming, iGaming, iLottery, systems and sports betting solutions in stand N3-150 at ICE London 2024 ("ICE"), Feb. 6-8, 2024. The three-day event is hailed as the gaming industry's largest trade show and is an opportunity for IGT to demonstrate its leadership in research-driven gaming solutions that propel growth and generate player excitement.

IGT Highlights Leadership Across Global Gaming Product and Solutions Portfolio at ICE London 2024

LONDON , Jan. 25, 2024 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that its subsidiary, IGT Canada Solutions ULC, has signed an agreement with Loto-Québec to deliver PeakDual™ 27 Video Lottery Terminals ("VLT') across Québec through a multi-year, phased rollout. This agreement is part of Loto-Québec's multi-phase VLT replacement cycle.

IGT Wins Competitive Bid to Modernize Loto-Québec's Video Lottery Terminals Network

Company demonstrates sustainability leadership with year-over-year increased score LONDON , Jan. 24, 2024 /PRNewswire/ -- International Game Technology PLC ("IGT" or the "Company") (NYSE: IGT) announced today that it received an MSCI ESG rating of AAA, the highest-possible score the global rating agency presents. This year-over-year score increase demonstrates IGT's continued sustainability leadership in managing ESG-related risks and opportunities.

IGT Achieves Highest-Possible MSCI ESG Rating of AAA

Company to upgrade central lottery system, replace 5,500 retail point-of-sale terminals and upgrade communications network to cellular LONDON , Jan. 22, 2024 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE:IGT) today announced that its subsidiary, IGT Global Solutions Corporation, has signed a three-year contract extension with the Virginia Lottery. The extension, when added to the full duration of the contract, will run through October 2033, and in addition makes available three, one-year extension options.

IGT Delivers Enhanced Solutions to Virginia Lottery

IGT to support Allwyn with the UK National Lottery operation until Allwyn's technology transformation program is complete LONDON , Jan. 17, 2024 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that it has received a contract extension to continue to supply the UK National Lottery's core lottery system ahead of the switchover to a new platform, as part of Allwyn's transformation program for The National Lottery. "We are pleased to continue to support the operation of The National Lottery, working alongside a range of other suppliers and Allwyn," said Jay Gendron, IGT COO Global Lottery.

IGT Supply Contract for UK National Lottery Operations Extended

IGT (IGT) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

All You Need to Know About IGT (IGT) Rating Upgrade to Buy

Effective January 1, 2024, Rishton to be succeeded by David Morgan LONDON , Dec. 14, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT" or the "Company") (NYSE: IGT) announced today that Tim Rishton, IGT Senior Vice President and Chief Accounting Officer, will retire at the end of 2024, following 29 years with the Company. Rishton will be succeeded by David Morgan, who will take on the role of IGT Senior Vice President and Chief Accounting Officer on January 1, 2024.

IGT Chief Accounting Officer Tim Rishton to Retire

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Company receives a score of 100 on annual assessment of LGBTQ+ workplace equality and achieves "Equality 100 Award: Leader in LGBTQ+ Workplace Inclusion" designation LONDON , Dec. 6, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that it received a top score of 100 on the Human Rights Campaign (HRC) Foundation's 2023-2024 Corporate Equality Index (CEI), the nation's foremost benchmarking survey and report measuring corporate policies and practices related to LGBTQ+ workplace equality. The 2023-2024 CEI includes 1,384 participants and showcases how U.S.-based companies promote LGBTQ+ friendly workplace policies in the U.S. and abroad.

IGT Earns Top Score in Human Rights Campaign Foundation's 2023-2024 Corporate Equality Index

International Game Technology shares have fallen over 10% in the past months due to concerns about the health of the consumer and ongoing casino investment in gaming machines. IGT is delivering strong financial performance, expanding margins, and strengthening its balance sheet. The company operates in the lottery, gaming, and digital gaming segments, with stable revenue streams, long-term contracts, and growing recurring software sales.

International Game Technology May Be A Good Bet

LONDON , Nov. 16, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT" or the "Company") (NYSE: IGT) announced today that it successfully achieved responsible gaming accreditation, once again, by the Global Gambling Guidance Group ("G4") for its Global Gaming and PlayDigital™ operations. "Responsible gaming is embedded into the core of IGT's business and receiving this G4 accreditation for our Global Gaming and PlayDigital product offerings demonstrates our ongoing commitment to our Sustainable Play initiatives," said  Wendy Montgomery, IGT SVP, Marketing, Communications and Sustainability.

IGT Reaffirms Responsible Gaming Leadership with G4 Certification for Global Gaming and PlayDigital Segments

Company's top-performing PlayDigital casino games will be available via the number one online gaming service provider in the Italian iGaming market LONDON , Nov. 13, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that IGT PlayDigital will expand its content in Italy by partnering with Microgame, the number one online gaming service provider in the Italian iGaming market. This content agreement provides Microgame with the ability to distribute IGT PlayDigital's extensive casino game library.

IGT PlayDigital Partners with Microgame to Expand iGaming Content Distribution in Italy

IGT PlaySports™ technology and services will enable Puerto Rico's first casino brand-led sportsbooks, PlayBets by Ponce Plaza LONDON , Nov. 9, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that it is growing its sports betting presence in Puerto Rico via a multi-year IGT PlaySports technology and services agreement with Ponce Plaza Hotel & Casino. Located in Ponce, Puerto Rico, the casino will leverage IGT PlaySports' award-winning technology and experienced trading advisory services team to power Puerto Rico's first casino brand-led retail and mobile sportsbook, PlayBets by Ponce Plaza.

IGT Signs Retail and Mobile Sports Betting Agreement with Ponce Plaza Hotel & Casino in Puerto Rico

LONDON , Nov. 1, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE:IGT) today announced that its subsidiary, IGT Global Solutions Corporation, has extended its contract with the South Dakota Lottery for five years, until 2031. As part of this contract extension, IGT will deliver its Scan and Redeem solution, enabling South Dakota Lottery players to scan a draw-based or instant scratch ticket and redeem winnings from $101 - $5,000 directly into their linked bank account, via automated clearing house (ACH) transfer.

IGT Delivers Scan and Redeem Solution to South Dakota Lottery via Five-Year Contract Extension

Company achieves high score in fourth annual benchmark survey for the gaming and betting industry LONDON , Oct. 31, 2023 /PRNewswire/ -- International Game Technology PLC (NYSE: IGT) ("IGT") announced today that it has been recognized by the All-In Diversity Project (AIDP) as a high-ranking gaming supplier in the 2023 All-Index™ report. The All-In Diversity Project is an industry-led not-for-profit initiative seeking to benchmark diversity, equality and inclusion across the global betting and gaming industry.

IGT Recognized for Diversity, Equality and Inclusion Excellence in the All-In Diversity Project 2023 All-Index Report

International Game Technology PLC (NYSE:IGT ) Q3 2023 Earnings Conference Call October 31, 2023 8:00 AM ET Company Participants James Hurley - Senior Vice President, Investor Relations Vincent Sadusky - Chief Executive Officer Massimiliano Chiara - Executive Vice President and Chief Financial Officer Conference Call Participants Barry Jonas - Truist Securities Chad Beynon - Macquarie Jeff Stantial - Stifel David Katz - Jefferies Joe Stauff - SIG Operator Hello and welcome to the International Game Technology Q3 2023 Earnings Call. All lines have been placed on mute to prevent any background noise.

International Game Technology PLC (IGT) Q3 2023 Earnings Call Transcript

The headline numbers for IGT (IGT) give insight into how the company performed in the quarter ended September 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Compared to Estimates, IGT (IGT) Q3 Earnings: A Look at Key Metrics

International Game Technology (IGT) came out with quarterly earnings of $0.52 per share, beating the Zacks Consensus Estimate of $0.39 per share. This compares to earnings of $1.30 per share a year ago.

International Game Technology (IGT) Beats Q3 Earnings and Revenue Estimates

Generated revenue of $1.06 billion, consistent with the prior year; up 6% net of Italy commercial services sale, driven by strong key performance indicators across business segments Operating income increased 13% to $239 million, led by double-digit growth in Global Gaming and PlayDigital; operating income margin expands 250 basis points to 22%, a record level for a third-quarter period Adjusted EBITDA up 8% to $433 million; Adjusted EBITDA margin improved 270 basis points to 41% Strong cash flow generation contributed favorably to net debt, improving net debt leverage to a historic low of 3.0x Tightening full-year 2023 revenue outlook to upper end of previous range; maintaining profit margin outlook LONDON , Oct. 31, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE:IGT) today reported financial results for the third quarter ended September 30, 2023. Today, at 8:00 a.m.

INTERNATIONAL GAME TECHNOLOGY PLC REPORTS THIRD QUARTER 2023 RESULTS

LONDON , Oct. 27, 2023 /PRNewswire/ -- International Game Technology PLC (NYSE:IGT) ("IGT") today announced that it has exercised its right to redeem in full its €500,000,000 3.500% Senior Secured Notes due July 15, 2024 (Rule 144A:  ISIN/Common Code XS1844998192/184499819 and Regulation S:  ISIN/Common Code XS1844997970/184499797) (the "Notes") on November 7, 2023 (the "Redemption Date") for a redemption price of 100% of the principal amount and a make-whole premium consistent with the terms of the indenture governing the Notes, together with accrued and unpaid interest. €112,041,000 of the Notes are outstanding.

INTERNATIONAL GAME TECHNOLOGY PLC ANNOUNCES FULL REDEMPTION OF 3.500% SENIOR SECURED EURO NOTES DUE 2024

Company extends two agreements with Kentucky Lottery Corporation until 2036 for upgraded retail system, new point-of-sale hardware and cloud-based iLottery system LONDON , Oct. 26, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that its subsidiary, IGT Global Solutions Corporation, has extended its two contracts with the Kentucky Lottery Corporation ("Kentucky Lottery") until 2036. Under the terms of the new extensions, IGT will upgrade the Kentucky Lottery's central system to IGT's high-performing Aurora™ platform, deliver new point-of-sale hardware for 3,400 lottery retailers across the State, and deploy an upgraded iLottery system that includes cloud integration.

IGT to Deliver Leading Lottery Solutions in Kentucky for 10 Additional Years

The consensus price target hints at a 35.5% 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.

Wall Street Analysts Predict a 35.51% Upside in IGT (IGT): Here's What You Should Know

LONDON , Oct. 25, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that it will demonstrate its global lottery industry leadership and present sophisticated lottery solutions at the North American Association of State and Provincial Lotteries ("NASPL") 2023 annual conference, from Oct. 31 – Nov. 2, in Milwaukee, Wisc. In booth 130, IGT will showcase its "Future Forward, Growth Driven" approach with a full suite of digital tools, exciting licensed brands, and innovative solutions that drive lottery sales and engage the next generation of players.

News for International Game Technology Stock (IGT)