International Game Technology Stock Price, News & Analysis

International Game Technology (IGT) announced a long-term issuer rating of BB+ and a stable outlook from Fitch Ratings. The positive rating reflects IGT's improved leverage due to substantial debt reduction from non-core business sales and strong free cash flow. Additionally, IGT's robust position in core gaming markets, particularly lottery, positions it well for future investments in slot machines and shareholder returns. CFO Max Chiara expressed satisfaction with the ratings, highlighting IGT's leadership and financial performance.

International Game Technology PLC (IGT) has received a 'B' score from the global environmental non-profit CDP, reflecting significant improvement in environmental disclosure and performance compared to its 2021 assessment. This score places IGT above average in comparison to peers in the information technology sector. The company excelled in governance oversight and emission reduction initiatives, underscoring its commitment to sustainability. Wendy Montgomery, IGT's SVP, emphasized the importance of reducing the carbon footprint and the company's role in promoting sustainable operations among customers.

International Game Technology (IGT) will showcase its gaming innovations at ICE London 2023 from February 7-9. The exhibit will feature a diverse range of products, including the multi-level progressive (MLP) libraries such as Prosperity Link and Egyptian Link, alongside innovative hardware like the PeakDual™27 cabinet. IGT aims to enhance player experiences with new gaming solutions, including the Resort Wallet™ for cashless gaming and an expanded PlayDigital™ iGaming portfolio. The company emphasizes a player-centric approach in its offerings, aiming to drive growth for its partners in the gaming industry.

International Game Technology (NYSE:IGT) has entered into a patent cross-licensing agreement with Greentube, a division of NOVOMATIC. This deal encompasses valuable patents related to remote game server technologies, allowing IGT to offer licenses to these combined portfolios within the global gaming industry. The financial terms remain undisclosed. IGT's CEO, Renato Ascoli, expressed optimism about fostering collaboration in the gaming sector, while Greentube's CEO, Thomas Graf, highlighted the significance of this agreement in enhancing their premium gaming products. Both companies will continue to safeguard their intellectual property and drive innovation in gaming.

International Game Technology PLC (IGT) announced that its IGT PlaySports™ technology is now operational in Ohio. This deployment is part of a partnership with Green Bear Gaming Development, LLC, under the UBetOhio brand. IGT's PlaySports QuickBet™ Kiosks have been installed in various restaurants and bars throughout the state, with plans to introduce PlaySports Pads™ soon. The kiosks feature a user-friendly interface and comprehensive betting options, enhancing the sports viewing experience for fans.

International Game Technology (NYSE:IGT) announced the full redemption of its subsidiary's 5.35% Notes due 2023, totaling $60,567,000, on January 23, 2023. The redemption price will be based on the present values of scheduled payments discounted at the Treasury Rate plus 40 basis points. On the redemption date, accrued interest will cease unless payment is defaulted. Registered holders will receive a notice regarding the redemption process.

International Game Technology (IGT) has extended its contract with Société de la Loterie de la Suisse Romande (Loterie Romande) until 2031. This long-term agreement enables IGT to enhance the lottery player experience in Switzerland by providing advanced lottery technology, including the deployment of its iLottery system. The new system aims to improve player data access and analytics, facilitating sales growth for charitable organizations. The cloud migration promises benefits like added security and scalability, while IGT’s ongoing delivery of the Aurora™ core lottery system will further drive innovation.

IGT has signed a five-year contract extension with Loto-Québec to enhance its INTELLIGEN™ video lottery central system software, valid until September 2027. This upgrade will connect 8,900 VLTs and includes improved network diagnostics and data analytics. IGT's COO, Nick Khin, emphasized that the updated system will provide Loto-Québec with advanced tools for operational efficiency. The INTELLIGEN system has over 25 years of experience, offering secure command capabilities and supporting enhanced player engagement features.