International Game Technology Stock Price, News & Analysis

International Game Technology PLC (IGT) has announced a two-year contract extension with the New York Lottery, extending their collaboration until August 6, 2022. This extension includes the provision of 400 new GameTouch™ self-service vending machines and ongoing services such as terminal installation and maintenance. IGT aims to support the Lottery in maximizing its contributions to education, which exceed $68 billion. This partnership reinforces IGT's position in the global gaming industry as a leading technology provider for lotteries.

International Game Technology PLC (IGT) reported its Q2 2020 financial results, revealing a 48% drop in revenue to $637 million, largely due to COVID-19 restrictions. The company faced an operating loss of $94 million compared to a profit of $224 million in the previous year. Net loss reached $280 million, translating to a net loss per diluted share of $1.37. Despite these challenges, IGT's strategic cost-saving measures are expected to yield over $200 million in savings. The company maintains cash and liquidity of $2.3 billion, prioritizing cash generation amidst current market conditions.

International Game Technology (NYSE: IGT) has entered a multi-year agreement with FanDuel Group to enhance its presence in the U.S. sports betting market. IGT's PlaySports platform will support FanDuel Sportsbooks nationwide through September 2024, while PlayDigital's casino games will be available in states where FanDuel operates online casinos. This partnership builds on existing collaborations, expanding FanDuel's offerings and leveraging IGT's technology for an enhanced customer experience. The agreement aims to propel both companies' growth in the expanding U.S. gaming landscape.

International Game Technology (NYSE: IGT) is set to hold a conference call on August 4, 2020, to discuss its second quarter 2020 results. The call will start at 8:00 a.m. EDT and will be accessible via phone or a live webcast on the company's website. Participants can dial in using the toll-free number +1 844 842 7999 or for those outside the US, +1 612 979 9887 with conference ID 4889985. A replay will be available post-event. IGT continues to deliver innovative gaming solutions globally, emphasizing responsible gaming and strong regulatory relationships.

International Game Technology (IGT) has launched its new PeakSlant49 casino gaming cabinet across U.S. casinos, featuring a 49-inch ultra-HD touchscreen and advanced player-friendly technology. The cabinet is designed to enhance the player experience and comes loaded with popular game titles, including the Fortune Coin Boost! and Bubble Blast. The cabinet's innovative features include a Dynamic Player Panel, wireless charging, and striking intelligent lighting, aimed at attracting players and boosting casino revenues.

International Game Technology (IGT) announced its partnership with Emerald Queen I-5 Casino in Tacoma, Washington, to utilize the IGT ADVANTAGE casino management system. This system will enhance the casino's loyalty program and operational efficiency. IGT's CrystalCurve and CrystalDual 27 cabinets dominate the casino's gaming floor, offering a diverse range of game titles. The implementation of mobile systems allows staff to monitor events efficiently while adhering to health guidelines. This collaboration marks a significant advancement for both IGT and Emerald Queen Casino in delivering an enriched gaming experience.

IGT (NYSE: IGT) announced that its video gaming terminals, CrystalDual 27 and CrystalSlant, received approval from the Pennsylvania Gaming Control Board. This allows IGT to place these terminals in qualified truck stop locations across Pennsylvania. The approval is expected to enhance IGT's gaming operations in the state, where it has a strong market presence. The CrystalDual 27 offers dual 27-inch displays, while the CrystalSlant features an ergonomic design, both supporting popular games like Stinkin' Rich and Red Hot Tamales. IGT aims to leverage this opportunity to increase visitation to gaming venues.

International Game Technology (IGT) announced the launch of its innovative PeakBarTop cabinet, now live at various casinos including Cache Creek and Golden Nugget. This next-gen bartop hardware features a 23-inch curved display, advanced lighting, and integrates IGT's extensive game library, including popular titles like Game King and Da Vinci Diamonds Keno. The PeakBarTop is designed to enhance the gaming experience with added conveniences like a front-mounted ticket printer and USB charging ports. IGT aims to dominate the bartop market with this technologically advanced solution.

International Game Technology (IGT) has announced a new organizational structure focused on two main segments: Global Gaming and Global Lottery. This change, effective July 1, 2020, aims to improve customer responsiveness and operational efficiency. Marco Sala, CEO, emphasizes a customer-first mentality. Key appointments include Renato Ascoli and Fabio Cairoli as CEOs of their respective segments. This restructuring will streamline financial reporting, beginning Q3 2020, consolidating key capabilities and fostering collaboration across product categories.