Welcome to our dedicated page for International Game Technology news (Ticker: IGT), a resource for investors and traders seeking the latest updates and insights on International Game Technology stock.
IGT provides gaming, digital and financial technology solutions for casino, digital and hospitality operators. Its offering includes gaming machines, game content and systems, iGaming, sports betting, cash access, loyalty and player engagement products, organized across Gaming, Digital and FinTech business units.
Company news commonly covers product showcases for land-based and digital gaming, Class II and Class III content, cabinet and systems launches, and technology from IGT brands such as PlaySports and Everi. Updates also include sports betting platform agreements, mobile and retail sportsbook deployments, casino and lottery customer relationships, and executive or organizational changes tied to product, commercial and operational functions.
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.
International Game Technology PLC (IGT) has secured a new 10-year contract for scratch ticket printing and services with the Texas Lottery Commission, extending their partnership until August 2034. The contract follows a competitive procurement process and highlights IGT's successful history with the Texas Lottery, which has generated over $35 billion in revenue for various causes since 1992. IGT will continue to supply popular game offerings like Loteria, which generated over $1.6 billion in sales in 2021, while also providing lottery operations and support services.
IGT unveils OMNIA™, the lottery industry's first omnichannel solution, at the World Lottery Summit 2022, taking place from October 16-20 in Vancouver. This innovative solution integrates IGT's retail lottery core system with its iLottery solution, allowing operators to digitalize the retail experience. IGT's exhibition will also showcase advanced gaming solutions catering to diverse customer profiles, including retail and iLottery categories. IGT executives will participate in various panel discussions, highlighting the company's leadership in transforming the lottery industry.
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IGT has partnered with Station Casinos to launch the STN Cash app, a cashless gaming solution at six Las Vegas properties.
This integration of IGT's Resort Wallet and IGTPay, part of the IGT ADVANTAGE casino management system, enhances player experience by allowing quick, secure funding for slot play via personal mobile devices.
The initiative aims to increase player convenience and support Station Casinos' growth and profitability, marking a significant shift towards cashless gaming in the region.
International Game Technology (IGT) will showcase its extensive gaming portfolio at the 2022 Global Gaming Expo (G2E) from October 10-13 in Las Vegas. The exhibit will feature innovations like the PeakDual™ 27 and PeakCurve™ cabinets, new multi-level progressive games such as Money Mania, and advancements in cashless gaming solutions with Resort Wallet™ and IGTPay™. CEO Vince Sadusky emphasized IGT's strong product performance, while the event will highlight over 200 innovations designed to meet diverse customer needs and capture market growth opportunities.
IGT has secured a significant contract with the Ontario Lottery and Gaming Corporation (OLG) to provide self-serve lottery terminals across Ontario. This agreement represents the first introduction of such technology in the province, with OLG aiming to enhance player experience and drive sales. Under the deal, IGT will deploy 1,400 GameTouch™ 28 self-serve terminals by mid-2023, and the contract extends until June 2027 with options for further extensions. The terminals will include functionality for responsible gaming and accessibility features.
On September 19, 2022, International Game Technology (IGT) announced updates on its capped cash tender offer for $1.1 billion in 6.500% Senior Secured Notes due 2025 and €500 million in 3.500% Senior Secured Notes due 2024. The New Early Settlement Date was revised to September 21, 2022. IGT increased the Maximum Acceptance Amount to $600,279,934 and the Dollar Offer Sub Cap to $400,001,000. As of September 16, 2022, IGT accepted $400,001,000 of Dollar Notes and €199,959,000 of Euro Notes. The tender offer will expire on September 30, 2022.
International Game Technology (NYSE:IGT) announced the completion of the sale of its Italian proximity payment business to PostePay for €700 million. The transaction reflects an enterprise value of €630 million, with €70 million in net unrestricted cash. At closing, the business held around €140 million in unrestricted cash, benefiting from improved cash flows since December 31, 2021. Proceeds will be allocated primarily to pay transaction expenses and reduce debt. UBS AG, UniCredit, Advant-Nctm, and KPMG provided advisory services for the transaction.
IGT has announced a multi-year content agreement with SKS365 Group to enhance its PlayDigital offerings. The partnership allows Planetwin365 casino to access IGT's remote game server (RGS) and a wider selection of PlayCasino games, including popular titles like Cleopatra and Cash Eruption. This expansion aims to strengthen the Planetwin365 brand in the competitive Italian market, with plans for 30 additional game releases in the next two months. IGT's extensive content library and market expertise position it as a leading player in Italy's gaming industry.