International Game Technology Stock Price, News & Analysis

International Game Technology PLC (IGT) has entered into a strategic sports betting agreement with Meruelo Gaming LLC, affiliated with SAHARA Las Vegas and Grand Sierra Resort. This partnership aims to utilize IGT's PlaySports technology to power the SaharaBets mobile sports betting app in Arizona. The collaboration is expected to enhance fan engagement for Arizona Coyotes fans by offering pre and in-game wagering options. IGT PlaySports is currently implemented at over 60 gaming venues across the U.S., positioning IGT as a key player in the sports betting market.

International Game Technology PLC (IGT) has signed a multi-year exclusive licensing agreement with WWE to develop and distribute WWE-branded omnichannel lottery games. This partnership aims to leverage WWE's broad appeal across various demographics while combining IGT's lottery expertise. Both companies expressed excitement about the collaboration, emphasizing its potential to enhance engagement with global customers and fans.

WWE (NYSE: WWE) has entered into a multi-year exclusive licensing agreement with International Game Technology (IGT) (NYSE: IGT) to develop and distribute WWE-branded omnichannel lottery games. This partnership aims to leverage WWE’s intellectual property to attract fans through new lottery games and promotional programs. WWE’s Vice President, Alex Varga, emphasized the collaborative potential, while IGT's COO, Jay Gendron, highlighted the appeal of WWE's diverse brand across global demographics. This deal marks a significant expansion in WWE’s partnership within the gaming industry.

International Game Technology PLC (IGT) announced its lottery operations, including iLottery, have received recertification from the World Lottery Association (WLA) for Corporate Social Responsibility Standards and Responsible Gaming Framework for Suppliers. This recognition emphasizes IGT's commitment to responsible gaming, as endorsed by WLA officials. The assessment, conducted by EY, confirmed IGT's compliance with WLA standards across eight critical areas, highlighting the company's ongoing dedication to minimizing problem gambling impacts.

International Game Technology PLC (IGT) is set to unveil the first omnichannel Wheel of Fortune linked progressive in the U.S. at the SBC Summit North America 2021, from Nov. 30 to Dec. 2 in Secaucus, N.J. This innovative technology links digital and land-based gaming, allowing players in New Jersey to access shared jackpots across all gaming channels. Building on the success of its Powerbucks link in Canada, IGT aims to enhance player experience and engagement. Additional new products showcased will include Fortune Coin Boost! and the CrystalFlex gaming cabinets.

International Game Technology PLC (IGT) has expanded its sports betting operations in Arizona through a multi-year agreement with Cliff Castle Casino in Camp Verde. Utilizing IGT PlaySports technology, the casino will offer retail sports betting, enabling guests to place pre-match and in-game wagers. This collaboration aims to attract new customers and enhance the gaming experience. IGT currently powers sports betting at nearly 60 venues across 19 U.S. states, indicating robust growth in this sector.

International Game Technology (IGT) hosted a virtual Investor Day on November 16, 2021, focusing on progress made for profitable growth across all segments. CEO Marco Sala highlighted the potential for organic growth and robust cash flow over the next four years. Key announcements included a revenue outlook of $4.1 to $4.3 billion for 2022, with significant cash flow expectations. IGT plans a $300 million share repurchase program and aims for a separate public listing of its Digital & Betting segment. Financial goals for 2022-2025 include a revenue target of $4.6 to $5 billion, mid-teens operating income growth, and disciplined capital allocation.

International Game Technology PLC (IGT) reported strong financial results for Q3 2021, with revenues of $984 million, up 21% year-over-year. Global Lottery revenue increased by 14% to $652 million, and Digital & Betting revenue surged 37% to $43 million. Operating income more than doubled to $212 million, reflecting effective cost management and strategic investments. The company announced a quarterly cash dividend of $0.20 per share and achieved a net debt reduction of 16%, now at $6.1 billion, which reflects improved cash flow and financial health.