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.
Summary not available.
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.
International Game Technology PLC (IGT) has entered into a strategic partnership with Marker Trax to enhance its cashless gaming technologies. This collaboration allows IGT ADVANTAGE® casino management system users to integrate Marker Trax's digital marker system into their IGT Resort Wallet applications. With increasing demand for cashless solutions, this partnership aims to streamline customer experiences, improve security, and expand market penetration. The integration enables patrons to create secure markers via mobile devices, facilitating faster approvals for cashless wagering accounts.