International Game Technology Stock Price, News & Analysis

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.

International Game Technology PLC (IGT) reported third-quarter results with consolidated revenue of $1.06 billion, marking an 8% increase year-over-year and a 14% rise at constant currency. Notable achievements include a 30% growth in Global Gaming income and an operating income margin of 20%. The company successfully sold its Italian payments business for €700 million and acquired iSoftBet for €160 million. Net debt decreased to $5.1 billion, with a historic low leverage of 3.1x. A record $224 million was returned to shareholders this fiscal year, highlighting financial stability.

International Game Technology PLC (IGT) will host a conference call and live webcast on November 8, 2022, at 8:00 a.m. EST, to discuss its third quarter 2022 results for the period ending September 30, 2022. Interested parties can register for the call here. A live webcast will also be available on IGT's Investor Relations website with a replay accessible afterward. IGT is a leader in gaming, operating in over 100 countries.

IGT has signed a seven-year contract extension with the Georgia Lottery Corporation to modernize its lottery and iLottery offerings. This agreement will last until September 2032 and includes the addition of cashless functionality at over 10,000 retail terminals. IGT will also install new Retailer Pro terminals and replace 600 vending machines. Furthermore, upgrades will allow the migration of lottery systems to the cloud, enhancing scalability and integration. IGT's longstanding partnership with Georgia Lottery has facilitated over $25 billion in contributions to the state's education fund.

Oregon Lottery has partnered with IGT to become the first U.S. lottery to offer video lottery terminal (VLT) player accounts using cashless solutions. This integration will affect over 11,500 VLTs in Oregon, allowing players to securely save winnings and redeem them without paper tickets, enhancing player security. The transition is part of a broader industry trend towards cashless technology, aimed at improving player experience and compliance with market regulations. IGT's INTELLIGEN central system will support these capabilities.

International Game Technology (IGT) has launched its cashless gaming solutions, Resort Wallet and IGTPay, at Indigo Sky Casino in Wyandotte, Oklahoma. This technology allows players to create a PIN-protected SKYWallet account through the casino's mobile app, facilitating cashless slot play with various funding sources. According to Indigo Sky Casino General Manager Melanie Heskett, this deployment has transformed their operations by driving slot play and enhancing customer convenience. IGT aims to modernize the gaming experience as digital payment methods gain popularity.