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.
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.
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The partnership between BetMGM, Sony Pictures Television, and IGT will launch the Wheel of Fortune Casino in New Jersey, marking North America's first brand-led online casino. This initiative coincides with the show's 40th season anniversary and aims to engage players with real money wagering on iconic Wheel of Fortune slot games. Matt Prevost from BetMGM highlighted the excitement of bringing this experience online, while IGT's Enrico Drago emphasized the brand's legacy in gaming. The launch also includes a focus on responsible gaming through GameSense resources.
IGT has expanded its partnership with SuperBook Sports to Tennessee, marking the fourth state to adopt its PlaySports technology for mobile betting. This follows previous implementations in Colorado, New Jersey, and Arizona. SuperBook aims to enhance its offerings with localized promotions and competitive betting solutions in Tennessee. The launch is part of IGT's broader strategy to engage U.S. sports fans and grow its market presence, recognized by its recent award as Sports Betting Platform Provider of the Year. IGT operates in over 20 U.S. states and Canada.
IGT delivers 960 Cobalt VLTs to Manitoba Liquor and Lotteries Corporation
On June 7, 2022, IGT announced the installation of 960 Cobalt™ 27 video lottery terminals (VLTs) in Canada, marking its debut in the region. The Cobalt VLTs are designed with two 27-inch screens and ergonomic features for player comfort. They will include popular games such as Temple of Fire Cash Eruption and new themes like The Wild Life Extreme. This partnership aims to modernize VLT gaming in Manitoba, enhancing player engagement and operational capabilities.
IGT Secures 10-Year Contract Extension with Kansas Lottery
International Game Technology PLC (NYSE: IGT) has announced a 10-year contract extension with the Kansas Lottery to implement an upgraded version of its INTELLIGEN electronic gaming central system. This extension will last until December 14, 2032, and aims to improve network management for electronic gaming machines. The enhanced system includes advanced business intelligence tools and disaster recovery technology, intended to optimize operations and revenue generation for the Lottery.
International Game Technology (IGT) has signed a multi-product systems technology agreement with Harrington Raceway and Casino to upgrade its gaming floor. This deal includes deploying the latest IGT ADVANTAGE casino management system, TournXtreme tournament technology, and Mobile Host and Mobile Responder apps. These technologies aim to enhance player engagement, productivity, and operational efficiency. IGT's solutions will also feature personalized bonuses and cashless technology, potentially driving growth and improving guest satisfaction.
IGT has launched its Money Mania™ Wide Area Progressive (WAP) video slots game in key commercial gaming jurisdictions, including Nevada and New Jersey, following a successful rollout in tribal casinos. The game, featuring themes like Pharaoh's Fortune and Cleopatra, is designed on the award-winning PeakSlant32™ cabinet and aims to enhance player engagement with frequent jackpots. Early reports indicate that it is delivering over twice the average play rate in many locations, indicating strong market performance and potential for sustained growth.
International Game Technology (IGT) has announced the deployment of its IGT ADVANTAGE casino management system at the upcoming NUSTAR Resort and Casino in Cebu, Philippines. The casino will feature the first Peak49 cabinets in Asia, enhancing gaming experiences with advanced technology and data analytics. This partnership aims to optimize casino operations and customer loyalty through cashless gaming options in the future. The NUSTAR Resort will also showcase popular IGT games, setting a new standard for entertainment in the region.
International Game Technology (IGT) reported a 4% increase in revenue, reaching $1.1 billion, driven by a 42% surge in Global Gaming product sales. Operating income stood at $252 million, with a margin exceeding expectations at 24%. Adjusted EBITDA remained strong at $433 million, maintaining a 41% margin. The company returned a record $80 million to shareholders in dividends and share buybacks. IGT reaffirmed its full-year outlook for 2022, targeting revenues between $4.1 billion and $4.3 billion.