International Game Technology Stock Price, News & Analysis

International Game Technology PLC (NYSE: IGT) announced a new partnership with BetSkybox to expand its IGT PlaySports™ technology in Ohio. This agreement will see the deployment of IGT's PlaySports QuickBet™ Kiosks in licensed restaurants and bars across the state. Executives from both companies highlighted the potential for enhanced sports betting experiences for fans in Ohio, particularly given the state’s vibrant professional and collegiate sports scene. The collaboration adds to IGT PlaySports' presence, which currently serves over 80 venues in the U.S. and Canada, showcasing IGT's capabilities in sports betting technology.

International Game Technology PLC (IGT) announced the filing of its 2022 Annual Report on Form 20-F with the U.S. Securities and Exchange Commission on February 28, 2023. The report contains audited financial statements for the year ending December 31, 2022. This filing aligns with the New York Stock Exchange regulations. IGT offers free hard copies of the report to all security holders upon request, further enhancing transparency. The report is accessible on IGT’s website and the SEC's site, reflecting the company’s commitment to investor relations.

International Game Technology (IGT) reported its financial results for Q4 and full-year 2022, exceeding expectations with $1.1 billion in quarterly revenue and $4.2 billion for the year. Key growth drivers included a 21% increase in Global Gaming revenue and a record $65 million from PlayDigital, supported by strategic acquisitions like iSoftBet. Operating income rose 24% to $230 million for the quarter, with a 21% margin. IGT returned a record $276 million to shareholders, reducing net debt by $771 million. For 2023, IGT forecasts revenue between $4.1 and $4.3 billion, maintaining a healthy operating margin of 21-23%. The company emphasizes improved profit profiles and growth prospects.

International Game Technology PLC (IGT) announced plans to partially redeem €188 million of its €500 million 3.500% Senior Secured Euro Notes due July 15, 2024, and $200 million of its $1.1 billion 6.500% Senior Secured Dollar Notes due February 15, 2025. The redemptions are set for March 16, 2023, at 100% of the principal amount plus accrued interest. The execution of these redemptions depends on IGT receiving sufficient proceeds from its senior revolving credit facilities. Payments will cease on both note series unless IGT defaults. This announcement is a part of IGT's strategy to manage its debt effectively.

International Game Technology PLC (IGT) announced an expansion of its sports betting services in Mississippi, with the launch of IGT's PlaySports™ technology at Treasure Bay Casino and Hotel in Biloxi. This deployment includes a conversion from the casino's previous sportsbook platform and introduces on-premise mobile betting, enhancing convenience for patrons. IGT's PlaySports technology is currently in use at over 80 gaming venues across the U.S., positioning IGT as a leader in the sports betting market.

IGT has announced a multi-year technology agreement with Betfred to support sports betting in Nevada. This partnership utilizes IGT PlaySports technology for both retail and mobile betting at the Mohegan Sun Sportsbook within Virgin Hotels Las Vegas.

This marks the first IGT-powered Betfred sportsbook in the U.S. and signifies Betfred's entry into the Nevada market. Betfred plans to launch retail betting initially, followed by mobile betting soon after. IGT currently powers over 80 gaming venues across the U.S. and Canada.