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.

Luxury Northern California casino to launch cashless slot play via IGT's award-winning technologies LONDON , March 20, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that it has signed a multi-year agreement with Graton Resort & Casino in Rohnert Park, Calif. to enable cashless gaming via the award-winning Resort Wallet™ and IGTPay™ solutions.

IGT Grows Cashless Gaming Leadership via Resort Wallet and IGTPay Agreement with Graton Resort & Casino

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New Wheel of Fortune Casino Mobile App now available in New Jersey JERSEY CITY, N.J. , March 8, 2023 /PRNewswire/ -- BetMGM, a leading iGaming and sports betting operator, announced today the launch of Wheel of Fortune Online Casino.

BetMGM Announces Launch of Wheel of Fortune Online Casino

IGT is a global leader in gaming technology and services with a presence in over 100 countries and a broad portfolio of products, including lottery, gaming, and digital services. Despite trading at a discount to its peers, IGT is poised for upside potential, with shares potentially worth 50% more at a multiple in line with its peers.

Valuation Disconnect: Analyzing The Investment Opportunity In International Game Technology

Ruby Seven's game portfolio will expand to include player-favorite IGT themes LONDON and RENO, Nev. , March 2, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) and Ruby Seven Studios announced an agreement today that will expand Ruby Seven's extensive content library to include some of IGT's most popular games across Ruby Seven's suite of social casino applications.

IGT and Ruby Seven Studios Announce Content Agreement

LONDON , March 1, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that its proven IGT PlaySports™ technology is expanding its footprint within Ohio through an agreement with BetSkybox to deploy IGT's PlaySports QuickBet™ Kiosks at licensed restaurants and bars across Ohio. "BetSkybox is thrilled to deliver IGT's award-winning sports betting technology to our licensed partners and offer the convenience of PlaySports' self-service betting solutions to the many sports fans throughout Ohio," said Ron Frederickson, President of Skybox Sports Network / BetSkybox.

IGT PlaySports™ Advances Sports Betting in Ohio via BetSkybox Agreement

Company fortifies industry leadership with premium, mechanical reel, video poker and video slot recognition LONDON , Feb. 28, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that it was recognized with top honors in four distinguished categories at the fifth annual EKG Slot Awards in Las Vegas. The EKG Slot Awards Show is produced by Eilers & Krejcik Gaming (EKG) and is designed to recognize excellence in slot game development in the casino gaming industry.

IGT Wins Four Highly Coveted EKG Slot Awards

International Game Technology PLC (NYSE:IGT ) Q4 2022 Earnings Conference Call February 28, 2023 8:00 AM ET Company Participants James Hurley - Senior Vice President, Investor Relations Vince Sadusky - Chief Executive Officer Max Chiara - Executive Vice President & Chief Financial Officer Conference Call Participants Carlo Santarelli - Deutsche Bank Chad Beynon - Macquarie Barry Jonas - Truist Securities Benjamin Chaiken - Credit Suisse David Katz - Jefferies Domenico Ghilotti - Equita Jemma Permalloo - JPMorgan Operator Ladies and gentlemen, thank you for standing by. Welcome to the IGT 2022 Fourth Quarter and Full Year Results.

International Game Technology PLC (IGT) Q4 2022 Earnings Call Transcript

IGT (IGT) delivered earnings and revenue surprises of 21.21% and 4.97%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

International Game Technology (IGT) Q4 Earnings and Revenues Surpass Estimates

Fourth Quarter 2022 Financial Performance Exceeded High End of Outlook: Revenue of $1.1 billion propelled by 7% same-store sales growth in Global Lottery, a 21% increase in Global Gaming revenue, and record contribution from PlayDigital 24% increase in operating income to $230 million; operating income margin of 21%, up 340 basis points vs. PY on substantial increase in Global Gaming and PlayDigital profitability Full Year 2022 Financial Performance Met High End of Outlook: Revenue of $4.2 billion, up 3% as reported and 8% at constant currency, driven by strong Global Gaming and PlayDigital growth Record operating income of $922 million; 22% operating income margin includes significant Global Gaming improvement Delivered $899 million in cash from operations and $582 million in free cash flow on strong performance and disciplined management of invested capital Reduced net debt by $771 million; leverage improves nearly a half turn to 3.1x Returned a record $276 million to shareholders Expect full year 2023 revenue of $4.1 - $4.3 billion with operating margin of 21% - 23%; first quarter 2023 revenue of approximately $1.0 billion with operating margin of 22% - 24% LONDON , Feb. 28, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE:IGT) today reported financial results for the fourth quarter and full year ended December 31, 2022.

INTERNATIONAL GAME TECHNOLOGY PLC REPORTS FOURTH QUARTER AND FULL YEAR 2022 RESULTS

LONDON , Feb. 28, 2023 /PRNewswire/ -- International Game Technology PLC (NYSE:IGT) ("IGT") today announced that it has exercised its right to redeem: (1)  €188,000,000 of 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) (€300,041,000 of which are outstanding) (the "Euro Notes") on March 16, 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 Euro Notes, together with accrued and unpaid interest, and (2)  $200,000,000 of its $1,100,000,000 6.500% Senior Secured Notes due February 15, 2025 (Rule 144A:  ISIN/CUSIP US460599AC74/460599 AC7 and Regulation S:  ISIN/CUSIP USG4863AAC20/G4863A AC2) ($699,999,000 of which are outstanding) (the "Dollar Notes") on the Redemption Date for a redemption price of $1,012.54087 per $1,000.00 of principal amount, together with accrued and unpaid interest. Each redemption is conditioned on IGT's receipt of sufficient proceeds under its senior revolving credit facilities to complete such redemption.

INTERNATIONAL GAME TECHNOLOGY PLC ANNOUNCES PARTIAL REDEMPTIONS OF 3.500% SENIOR SECURED EURO NOTES DUE 2024 AND 6.500% SENIOR SECURED DOLLAR NOTES DUE 2025

Here is how International Game Technology (IGT) and Las Vegas Sands (LVS) have performed compared to their sector so far this year.

Is International Game Technology (IGT) Stock Outpacing Its Consumer Discretionary Peers This Year?

Company demonstrates leadership, scores in 88th percentile amongst evaluated businesses in the casinos and gaming industry LONDON , Feb. 27, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT" or the "Company") (NYSE: IGT) announced today that it scored in the 88th percentile in the casino and gaming industry category in the 2022 S&P Global Corporate Sustainability Assessment (CSA). IGT was one of 69 companies that were assessed in its category, and the Company particularly demonstrated strong performance against its peers in environmental and social reporting and operational eco-efficiency.

IGT Improves ESG Score in 2022 S&P Global Corporate Sustainability Assessment

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IGT (IGT) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

International Game Technology (IGT) Earnings Expected to Grow: What to Know Ahead of Next Week's Release

LONDON , Feb. 14, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that it has expanded its sports betting footprint in Mississippi with the deployment of IGT's PlaySports™ technology at Treasure Bay Casino and Hotel in Biloxi. Under the terms of the agreement, Treasure Bay converted its former retail sportsbook platform to the proven IGT PlaySports solution, including on-premise mobile technology, and IGT's PlaySports trading advisory services.

IGT Deploys World-Class Retail and Mobile PlaySports™ Technology at Treasure Bay Casino and Hotel in Mississippi

IGT PlaySports™ technology selected to power Betfred's first sportsbook in Nevada LONDON , Feb. 13, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that the Company expanded its sports betting footprint in Nevada via a multi-year PlaySports technology agreement with long-time sports betting operator, Betfred. Under the terms of the agreement, Betfred is leveraging IGT PlaySports technology to power retail and mobile sports betting at the Mohegan Sun Sportsbook inside Virgin Hotels Las Vegas, part of Curio Collection by Hilton.

IGT Grows Sports Betting Footprint in Nevada via Retail and Mobile Sports Betting Agreement with Betfred

Wins third consecutive "Casino Supplier of the Year" honor at the Global Gaming Awards London PeakSlant49 cabinet wins "Best Slot Machine" and Company named "Best Diversity and Inclusion Employer" for second consecutive year at the European Casino Awards Progressive eInstants win "Lottery Product of the Year" at the International Gaming Awards LONDON , Feb. 9, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that it was recognized with several top honors in three distinguished award programs: the Global Gaming Awards London, European Casino Awards, and International Gaming Awards­ – all held in conjunction with ICE London, one of the premier annual global events serving the gaming industry. IGT won the following awards this week in London: Global Gaming Awards London: Named "Casino Supplier of the Year" for the third consecutive year.

IGT Wins Top Honors in Multiple Award Programs at ICE London 2023

LONDON , Feb. 7, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE:IGT) will host a conference call and live webcast to discuss fourth quarter and full year 2022 results for the period ended December 31, 2022 on Tuesday, February 28, 2023. Conference call details: Tuesday, February 28, 2023 8:00 a.m.

International Game Technology PLC to Host Fourth Quarter and Full Year 2022 Results Conference Call on Tuesday, February 28, 2023

LONDON , Feb. 2, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE:IGT) announced today that Fitch Ratings, Inc. ("Fitch") has assigned each of IGT and its subsidiary, IGT Lottery Holdings B.V., a long-term issuer rating of BB+ with a stable rating outlook and a rating of BBB- to their long-term senior secured debt.

INTERNATIONAL GAME TECHNOLOGY PLC ANNOUNCES BB+ LONG-TERM ISSUER RATING FROM FITCH

Company outperforms its 2021 assessment, receives an "above average" score for taking environmental action LONDON , Jan. 30, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that it received a 'B' score in climate change from global environmental non-profit CDP, recognizing IGT for demonstrating improved environmental disclosure and performance. IGT received a higher-than average score compared to other information technology and software development companies.

IGT Achieves Improved Score by Global Environmental Non-Profit CDP for Environmental Performance

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Elevates high-performing multi-level progressive (MLP) library with Prosperity Link™ and Egyptian Link™ featuring next-generation base games and content Introduces innovative hardware solutions with ICE debut of the PeakDual™27 video slots cabinet and modernized DiamondRS™ mechanical reel cabinet Demonstrates market-attuned USwitch™ multi-game bundles for global operators Enhances AWP offering with Magic Fortune Link™ featuring four key titles Strengthens momentum of core video offering and unveils VIP Chair player seating Continues to transform cashless gaming via Resort Wallet™ with IGTPay gaming modules of the IGT ADVANTAGE™ casino management system Presents vast omnichannel IGT PlayDigital™ iGaming portfolio featuring premium content, technology, and bolt-on jackpots LONDON , Jan. 24, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that it will present its diverse portfolio of top-performing games, cabinets, systems and solutions at the ICE London ("ICE") 2023 show from February 7-9 at ExCel London. Greeting casino operators and partners from throughout the world under the theme "We've Got Game," IGT will present innovations that elevate the player experience and drive growth for its casino, lottery, and digital customers.

IGT Showcases Compelling Player-Driven Portfolio at ICE London 2023

Combined Remote Game Server patent portfolio offers compelling technologies for digital and social gaming Remote Game Server patents can be sublicensed to third parties to advance innovation in the gaming industry LONDON , Jan. 18, 2023 /PRNewswire/ -- International Game Technology PLC (NYSE:IGT) ("IGT") and Greentube, the NOVOMATIC Digital Gaming and Entertainment division, ("Greentube") today announced that they have signed a patent cross-licensing agreement that includes valuable patents related to remote game server (RGS) technologies for providing games over a network. With the execution of this agreement, IGT can offer the global gaming industry a patent license to the combined RGS portfolios of IGT and Greentube.

IGT and Greentube Sign Patent Cross-Licensing Agreement for Remote Game Server

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Here is how International Game Technology (IGT) and Oxford Industries (OXM) have performed compared to their sector so far this year.

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