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 extended its contract with the Mississippi Lottery for an additional three years, ensuring service until December 1, 2029. IGT will introduce new technologies including a mobile convenience app, new GameTouch™ 28 self-service terminals, and the Sales Wizard retail automation tool. The mobile app will offer features like viewing winning numbers, checking tickets, and creating digital playslips. The Sales Wizard tool will provide comprehensive sales reports to optimize lottery retail opportunities. IGT's extension aligns with Mississippi Lottery's goals of funding educational initiatives, with plans to open more digital technology labs and continue annual scholarship contributions. IGT serves as the primary technology provider for numerous major lotteries worldwide.
International Game Technology (IGT) announced the launch of its new multi-level progressive (MLP) game, Tiger and Dragon, on the PeakCurve49 cabinet. This game features innovative mechanics and high bonus frequencies, creating an engaging entertainment experience. Tiger and Dragon offers two base games, Multiplier and Cash On Reels, each with unique bonuses. The game introduces a new lock-and-respin feature and reveal bonus structure, enhancing win potential. The PeakCurve49 cabinet's vivid graphics and LED signage further enhance the game's appeal. This launch is part of IGT's strategic focus on advancing its game performance in the MLP sector.
International Game Technology (IGT) has announced an expansion of its partnership with the Lac Vieux Desert Northern Waters Casino & Resort in Michigan. As of May 16, 2024, IGT's PlaySports Trading Advisory Services will support the casino's sports betting operations. Northern Waters has been using IGT's betting platform and self-service technology since 2021. The new agreement will streamline operations and improve customer experience. Northern Waters will also deploy IGT's PeakBarTop cabinets with Total Gaming software to offer various gaming options. IGT PlaySports was named 'Sportsbook Supplier of the Year' in the 2023 SBC North America Awards and powers over 80 gaming venues in North America.
International Game Technology (IGT) reported a Q1 2024 revenue of $1.07 billion, up 1% YoY, driven by strong Global Lottery performance. Operating income was $256 million, in line with the previous year, but rose to $273 million excluding separation costs. Adjusted EBITDA was $461 million, up 3% when excluding separation costs.
Global Lottery revenue increased by 6% to $661 million, while Gaming & Digital revenue decreased by 7% to $406 million. Net income more than doubled to $128 million, and diluted EPS rose to $0.40 from $0.11. Despite lower cash flow and liquidity, IGT upgraded its 2024 outlook, projecting full-year revenue of $4.4 billion.
Key highlights include a spinoff transaction with Everi Holdings, awards at ICE London 2024, and a new licensing agreement with the Maryland Lottery.
IGT announced a partnership with Holland Casino to upgrade video poker in the Netherlands with 500 PeakBarTop cabinets, making it the largest installation in Europe. The deployment started in 2023 and will enhance player experience with innovative features like Game King™ content and advanced technology.
IGT, a leading technology provider, has signed a five-year contract with the Atlantic Lottery in Canada to implement cloud-based iLottery solutions. The deal includes deploying a remote game server and digital instant games, showcasing IGT's content portfolio and technology capabilities. The partnership aims to enhance player experiences, provide dynamic gaming options, and drive business growth for both parties.
FAQ
What is the current stock price of International Game Technology (IGT)?
What is the market cap of International Game Technology (IGT)?
