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.
IGT provides gaming, digital and financial technology solutions for casino, digital and hospitality operators. Its offering includes gaming machines, game content and systems, iGaming, sports betting, cash access, loyalty and player engagement products, organized across Gaming, Digital and FinTech business units.
Company news commonly covers product showcases for land-based and digital gaming, Class II and Class III content, cabinet and systems launches, and technology from IGT brands such as PlaySports and Everi. Updates also include sports betting platform agreements, mobile and retail sportsbook deployments, casino and lottery customer relationships, and executive or organizational changes tied to product, commercial and operational functions.
International Game Technology PLC (NYSE: IGT) announced a strategic agreement to exclusively license the intellectual property of its GALAXIS™ and SYSTEM2Go™ casino central management systems to Modulus S.a.r.l. The deal, effective Dec. 18, 2020, allows Modulus to commercialize and distribute IGT's CMS solutions and legacy hardware, excluding North America. This partnership aims to enhance customer service and reduce resource duplication for IGT, enabling focus on its innovative IGT ADVANTAGE CMS. The agreement is subject to regulatory approvals.
International Game Technology (IGT) announced the successful deployment of its IGT ADVANTAGE Casino Management System at the reopened Carousel Casino in South Africa. This installation marks the first use of the IGT ADVANTAGE Resort Wallet card cashless module in the country, enhancing operational efficiency and guest experience. The system connects 400 machines and includes features for machine accounting, patron management, and dynamic content creation. IGT's proven solutions aim to maximize revenue and player loyalty at Carousel Casino.
International Game Technology (NYSE: IGT) has announced a multi-year partnership with Maverick Gaming to provide its PlaySports platform for retail and mobile sports betting across three casinos in Colorado. The collaboration includes deploying self-service kiosks and a mobile app, Play Maverick Sports, enhancing the gaming experience in the region. IGT's technology aims to attract new players and optimize sports betting operations. This agreement positions IGT to leverage its experience in 15 U.S. states to support Maverick Gaming's growth in Colorado.
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On Nov. 19, 2020, International Game Technology (NYSE: IGT) announced it has secured a tender from Norsk Tipping, Norway's state lottery operator, to supply its PlayCasino content and PlayRGS digital platform. This agreement, effective February 2021, allows for a three-year term with a one-year extension option. IGT will provide its proprietary games along with third-party content from NetEnt and ELKAB Studios. This marks a continuation of a long-standing partnership, as IGT has been a supplier since 2012, enhancing Norsk Tipping's digital gaming offerings.
International Game Technology PLC (NYSE: IGT) has secured a seven-year contract with the Nebraska Lottery, becoming the primary vendor for instants and draw-based games until June 30, 2028, with possible extensions. IGT will upgrade the Lottery's central system to its Aurora platform and provide terminal equipment at around 1,200 retail locations. The contract aims to enhance the Lottery's sales through innovative game solutions and strategic instant ticket game management. This partnership reflects the longstanding collaboration between IGT and the Nebraska Lottery.
International Game Technology PLC (IGT) reported third-quarter 2020 results showing consolidated revenue of $982 million, down 15% year-over-year, yet strong performance in the lottery segment drove a 3% revenue increase to $570 million. Adjusted net income rose 25% to $54 million despite a net loss of $128 million, primarily due to non-cash foreign exchange losses. IGT generated $220 million in positive free cash flow and improved liquidity to $2.55 billion. The company aims for over $200 million in structural savings over the next two years while managing ongoing pandemic impacts.
International Game Technology (IGT) announced the installation of its IGT ADVANTAGE™ casino management system at Bao Son International Hotel Versaces Club in Hanoi, Vietnam. The upgrade will operate the club's loyalty program, optimize the casino floor, and implement the Lucky Coin bonusing module to enhance player engagement. IGT's systems aim to improve operational efficiency and drive long-term success by increasing player loyalty and entertainment.
International Game Technology PLC (NYSE: IGT) will host a conference call and live webcast on November 12, 2020, at 8:00 a.m. EST, to discuss third quarter 2020 results. Investors can access the live webcast on IGT's Investor Relations website, with a replay available after the event. Participants can join via toll-free numbers for the US/Canada or an international line, using conference ID 9189642. IGT is a leading gaming company providing responsible gaming experiences across various channels and has around 12,000 employees globally.
International Game Technology (IGT) announced the nationwide launch of its new PeakSlant49 Wheel cabinet, enhancing its Wheel of Fortune slot games. This cabinet debuted at ARIA Resort & Casino in Las Vegas and Foxwoods Resort Casino in Connecticut. Standing nearly nine feet tall, it features advanced technology including a 49-inch ultra-HD touchscreen, intelligent lighting, and USB charging ports. The cabinet launched with the Wheel of Fortune Mystery Link game, showcasing player-selectable themes and innovative game mechanics that aim to drive casino visitation and elevate the gaming experience.