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.
International Game Technology (IGT) delivers cutting-edge gaming solutions across lottery systems, digital wagering platforms, and regulated sports betting markets worldwide. This page provides official updates and press releases essential for understanding the company's strategic direction.
Access real-time announcements on financial results, product innovations, and regulatory milestones. Investors and industry professionals will find curated information spanning earnings reports, technology partnerships, new market entries, and corporate responsibility initiatives.
All content is verified for accuracy and relevance to IGT's core operations in gaming machines, omnichannel systems, and government-regulated lottery services. Bookmark this page for efficient tracking of developments impacting global gaming markets and IGT's position as an industry leader.
International Game Technology (IGT) has secured a facilities management lottery contract from the Connecticut Lottery Corporation after a competitive bid process. The contract involves implementing IGT's Aurora central lottery management system, set to launch in April 2023, and will last for 10 years until April 2033, with an option for a 5-year extension. This agreement enhances IGT's position as a leading lottery systems provider, with its technology managing over 75% of U.S. lottery sales.
International Game Technology PLC (NYSE: IGT) announced a significant expansion in cashless gaming technology through a multi-year agreement with Indigo Sky Casino in Oklahoma. This partnership will introduce the Resort Wallet and IGTPay modules of the IGT ADVANTAGE® casino management system, enabling patrons to access funds from various sources like credit and debit cards directly at the casino. The rollout is set to begin in 2021, enhancing customer experience and positioning IGT as a leader in cashless gaming solutions.
International Game Technology PLC (IGT) announced that Knute Knudson, Jr., Vice President of Global Business Development and Tribal Ambassador, will be inducted into the American Gaming Association's Gaming Hall of Fame on October 5, 2021. This prestigious honor recognizes significant contributions to the gaming industry. Knudson's advocacy for tribal gaming has expanded gaming opportunities for Indian tribes and promoted tribal sovereignty. IGT CEO Renato Ascoli praised Knudson's dedication to tribal gaming and the lasting impact of his work in the industry.
International Game Technology (NYSE: IGT) has formed a new Digital & Betting segment from its iGaming and sports betting operations, previously part of the Global Gaming segment. This restructuring will allow IGT to report results under three segments: Global Lottery, Global Gaming, and Digital & Betting, starting Q3 FY2021. Enrico Drago has been appointed as CEO of Digital & Betting. The company plans to provide recast historical financials prior to its Q3 earnings call. Investor Day is now scheduled for November 16, 2021, to adapt to COVID-19 constraints.
On September 2, 2021, International Game Technology PLC (IGT) announced a significant expansion of its PlaySports platform into Wisconsin. This initiative will power sports betting at Oneida Casino, making it the first casino in the state to operate a sportsbook. The Oneida Nation has secured state approval for this venture, indicating a strategic development in the gaming sector. IGT's turnkey solution aims to enhance the casino's offerings, positioning it as a leading gaming destination.
International Game Technology reported second quarter 2021 results showing significant growth, with total revenue reaching $1.04 billion, up 74% year-over-year. The Global Lottery segment achieved a record performance, contributing $725 million, while Global Gaming revenues soared by 126% to $316 million. Adjusted EBITDA totaled $442 million, marking a 170% increase. The company also reduced net debt to $6.3 billion, highlighting improved cash flow and operational efficiency. IGT raised its annual outlook, anticipating revenues to surpass 2019 levels due to strong consumer demand and strategic asset sales.
International Game Technology PLC (IGT) announced a successful refinancing of its term loan facility on July 26, 2021. The Amendment and Extension Agreement increases the aggregate term loan facilities to €1 billion and extends the maturity date to January 25, 2027. It is expected to lower annualized interest expenses by approximately $65 million and includes an ESG margin adjustment. The agreement also mandates €200 million in annual amortization payments for 2024-2026. This refinancing is part of IGT's strategy to enhance its credit profile and liquidity.
International Game Technology (IGT) announced an extension of its lottery gaming systems contract with Washington's Lottery to implement cashless lottery technology. This agreement, extending through June 30, 2029, marks Washington as the seventh state to adopt IGT's cashless solutions. IGT will upgrade 2,000 self-service vending machines, allowing players to use debit cards for purchases. Since 2016, IGT has helped Washington's Lottery increase sales by 37%, reaching $950 million in the latest fiscal year, demonstrating a strong partnership and ongoing growth in lottery sales.
International Game Technology PLC (IGT) has partnered with Agua Caliente Casinos in California to implement its Resort Wallet and IGTPay cashless solutions at all three casino locations. This initiative aims to enhance player engagement and loyalty by enabling mobile access to funds from various sources, such as credit/debit cards and bank accounts. The full suite of IGT's cashless solutions will be deployed in 2021, allowing players to transfer funds electronically and securely maintain their cashless wagering accounts.
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