International Game Technology Stock Price, News & Analysis

International Game Technology PLC (IGT) reported strong financial performance for Q4 and full year 2021, achieving the highest revenue, profit, and cash flow in four years. Q4 revenue rose 19% to $1 billion, and full year revenue surged 31% to $4.1 billion. Key highlights include improved operating income, significant cash flow generation, and a reduction in net debt to $5.9 billion. IGT also reinstated a quarterly dividend and repurchased shares. The company aims for mid-single digit organic revenue growth and mid-teens operating income growth by 2025, with a solid outlook for 2022.

International Game Technology (NYSE:IGT) has announced the sale of its Italian proximity payment business to PostePay for €700 million. This transaction includes the sale of LIS Holding S.p.A. and LISPAY S.p.A., which generated approximately €228 million in gross revenues and €40 million in EBITDA in 2021. IGT aims to utilize the proceeds mainly to reduce debt, while streamlining its portfolio to focus on core assets. The deal is subject to regulatory approvals, with closing expected in Q3 2022.

International Game Technology PLC (IGT) has signed a 20-year contract extension with the Rhode Island Lottery, ensuring exclusive supply of lottery services through June 30, 2043. The deal includes maintaining 1,100 jobs in Rhode Island and involves a $155 million investment. IGT will upgrade lottery systems over the contract period, introducing its Aurora™ product and enhancing the iLottery system in 2023. IGT will also pay $27 million to the state, supporting economic development initiatives.

International Game Technology PLC (IGT) announced a multi-year agreement to expand its instant ticket business in Germany with Staatliche Toto-Lotto GmbH Baden-Württemberg (Lotto BW). This partnership will see IGT provide comprehensive instant ticket printing services, including game development and marketing expertise through its Instants Advantage™ program. The collaboration is expected to enhance lottery sales and player engagement in Baden-Württemberg, a significant federal state in Germany, which offers substantial growth potential for instant ticket sales.

International Game Technology (IGT) has extended its contract with the Missouri Lottery for three years, continuing its partnership until June 30, 2025. IGT will deploy 175 new cashless GameTouch™ 28 vending machines and launch the Cash Pop™ draw game, enhancing player experience and lottery sales. IGT has supplied technology to the Missouri Lottery since 1991, processing about 75% of U.S. lottery sales. This collaboration aims to support public education funding in Missouri.

International Game Technology PLC (IGT) announced a multi-year agreement to expand its sports betting operations in Washington State, partnering with Kalispel Tribal Economic Authority. Kalispel Casino will leverage IGT's PlaySports technology for its upcoming retail sportsbook. This marks IGT's second venture in the region, following its deployment at the Turf Club Sportsbook in December 2021. IGT aims to enhance the customer experience at Kalispel Casino, building on its established relationship with the Kalispel Tribe.

International Game Technology (NYSE: IGT) will host a conference call to discuss its fourth quarter and full year 2021 results on March 1, 2022 at 8:00 a.m. EST. Interested participants can register for the call to receive a unique PIN and dial-in number. A live webcast will also be available on IGT's Investor Relations website, with a replay accessible afterward. IGT is a leader in gaming, providing entertaining experiences across various channels. More details can be found on their official site.

International Game Technology PLC (NYSE: IGT) has extended its central systems contract with Manitoba Liquor and Lotteries Corporation (MBLL) for five years. This extension involves upgrading MBLL's video lottery system to the latest version of IGT's INTELLIGEN™. The enhanced system will connect nearly 6,600 video lottery terminals (VLTs) and includes improved network diagnostics and updated user interfaces. This agreement solidifies IGT's presence in the regulated video lottery industry, highlighting its commitment to providing advanced gaming solutions.

International Game Technology PLC (NYSE: IGT) announced significant changes in its executive team and board of directors effective January 24, 2022. Lorenzo Pellicioli will retire as chairperson, with Marco Sala transitioning to executive chair. Vincent Sadusky is appointed as CEO, succeeding Sala. The board also appointed Maria Pinelli and Ashley Hunter as non-executive directors. These leadership changes aim to strengthen IGT's governance and support its long-term strategy for growth and value creation.