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.
The IGT news page on Stock Titan aggregates company communications and media coverage related to the gaming, digital and financial technology enterprise that uses the IGT brand. Recent news releases describe IGT as a global provider of gaming machines, game content and systems, iGaming, sports betting technology, cash access, loyalty and player engagement solutions, organized into Gaming, Digital and FinTech business units and headquartered in Las Vegas.
Readers can use this page to follow announcements about new gaming cabinets and electronic table games, digital content launches, FinTech integrations and leadership updates. For example, company news has highlighted the global debut of cabinets such as RISE55 and RISE32, the launch of the Wheel of Fortune Big Money Spin electronic table game, and the expansion of IGT PlayDigital’s omnichannel content portfolio and engagement platform. The page also captures FinTech developments from Everi, an IGT brand, including mobile wallet launches and the expansion of the Digital Neighborhood of self-service payment and loyalty tools.
In addition, the news feed reflects IGT’s role in sports betting technology through IGT PlaySports, such as contract extensions to power statewide retail and mobile sports betting for government-sponsored lotteries. Leadership and organizational updates, including changes in executive roles and recognition of IGT leaders by industry groups, also appear in these releases.
By reviewing the IGT news stream, investors and industry observers can see how the enterprise presents its Gaming, Digital and FinTech strategies, its participation in major trade shows like the Global Gaming Expo and ICE Barcelona, and its ongoing product and technology roadmap across land-based and digital gaming environments.
IGT has announced a significant partnership with Santa Casa da Misericórdia de Lisboa to introduce the Retailer Vue™ lottery terminal in Portugal. This agreement entails the delivery of up to 7,200 camera-based terminals expected by 2023. The Retailer Vue features a 13.3 MP camera that enables contactless transactions and enhances retail space efficiency. IGT aims to modernize the lottery experience, fostering interaction between players and retailers while driving sales growth and contributions to good causes.
IGT has announced a multi-year partnership with Nisqually Red Wind Casino in Olympia, Washington, enhancing its sports betting leadership in the region. The agreement will see the casino utilize the IGT PlaySports platform and install IGT betting kiosks. This marks the eighth venue in Washington State to offer sports betting through IGT's technology, which is implemented in over 70 locations across the U.S. IGT aims to boost player acquisition and enhance visitor engagement at the casino, aligning with its strategy to grow sports betting offerings.
International Game Technology (IGT) reported Q2 2022 financial results with total revenue of $1.02 billion, a 2% decline year-over-year, but a 3% increase at constant currency. Global Gaming revenue surged 23%, countering a 11% decrease in Global Lottery. Operating income stood at $228 million, and adjusted diluted EPS rose 78% to $0.57. The company recognized a $150 million non-operating expense related to legal proceedings. IGT also announced a tightening of its full-year revenue outlook to $4.1 billion - $4.2 billion.
International Game Technology announced the closing of an amendment and extension of its revolving credit facilities and term loan facilities. The amendments extend the revolving credit facilities' maturity to 2027, increase lender commitments from $1.68 billion to $1.83 billion, and reduce interest rate margins. Additionally, the permitted acquisition limit has risen from $2.25 billion to $2.5 billion, and the annual limit on dividends and share repurchases increased from $300 million to $400 million. These changes aim to enhance IGT's financial flexibility and credit profile.
IGT expands iLottery offerings to Michigan Lottery by signing an agreement to deliver popular games through its remote gaming server. This move adds a diverse range of eInstant games, including player-favorite titles, enhancing the Lottery's existing portfolio. Michigan Lottery joins Georgia, Kentucky, and Rhode Island as the fourth U.S. lottery to utilize IGT's extensive library. IGT's proven track record in partnering with lotteries aims to boost iLottery sales and player engagement in Michigan.
On July 20, 2022, International Game Technology (NYSE: IGT) was awarded the title of Lottery Supplier of the Year at the 2022 SBC Awards North America, reflecting its leadership in the global lottery industry. Jay Gendron, COO of Global Lottery at IGT, emphasized the company's commitment to innovation and supporting lotteries in enhancing their gameplay and digital content. IGT's iLottery solutions have achieved significant growth, positioning the company as a trusted partner in the market.
International Game Technology PLC (NYSE: IGT) will conduct a conference call and live webcast on August 2, 2022, at 8:00 a.m. EDT to discuss its second quarter 2022 results, which ended on June 30, 2022. Interested participants can register for the call and obtain dial-in information by visiting the provided link. The webcast can also be accessed through the company's Investor Relations website. IGT is a leader in gaming, providing innovative and responsible gaming experiences across multiple channels worldwide.
IGT has launched the DiamondRS™ mechanical reel cabinet, introducing a modern gaming experience rooted in extensive market research. This cabinet retains design elements from IGT's successful S2000 and S3000 models while incorporating innovative features like IGT Diamond Glass™ technology, allowing for dynamic gameplay. The cabinet debuted at Yaamava' Resort & Casino, offering new and classic game titles, including Double Top Dollar™ and Pinball™ Double Gold™. With enhanced displays and ergonomic designs, the DiamondRS cabinet is set to redefine the mechanical reel segment.
Summary not available.
International Game Technology PLC (NYSE:IGT) has successfully completed its acquisition of iSoftBet for approximately €160 million in cash. This strategic move significantly enhances IGT's PlayDigital content library, expanding it to around 225 proprietary games. The acquisition also provides IGT with a robust game aggregation platform for distributing third-party games and advanced promotional tools for user engagement. The deal was advised by Oakvale Capital LLP, while legal advisors included Wachtell, Lipton, Rosen & Katz, and tax due diligence was handled by KPMG LLP.