International Game Technology (IGT) - NYSE
  • Nov. 11, 2015, 5:30 PM
    | Nov. 11, 2015, 5:30 PM | 1 Comment
  • Nov. 10, 2015, 5:02 PM
    • International Game Technology (NYSE:IGT) declares $0.20/share quarterly dividend, in line with previous.
    • Forward yield 5.0%
    • Payable Dec. 11; for shareholders of record Nov. 27; ex-div Nov. 24.
    | Nov. 10, 2015, 5:02 PM
  • Sep. 18, 2015, 7:52 AM
    • The Nevada Gaming Commission approved a set of rules to allow a new category of games which mix skill and chance.
    • The aim of industry players is to introduce hybrid slot machines which appeal to millennials by incorporating skills such as knowledge of trivia, strategic thinking, or dexterity. Traditional slot machines haven't been popular with millennials in general.
    • Related ETFs: BJK
    | Sep. 18, 2015, 7:52 AM | 8 Comments
  • Aug. 19, 2015, 12:32 PM
    • Goldman's Steven Kent has launched coverage on IGT (IGT -3.6%) with a Sell rating and $15.50 target, and on fellow gaming machine maker Scientific Games (SGMS -8.6%) with a Sell and $7.50 target.
    • Regarding IGT, Kent sees "limited clarity around [Gtech merger] synergies, cash use, and brand integration," and thinks the company will likely be “challenged by acquisition-related issues, declining market share, and concentration in Italy/lottery.” He adds a survey of slot managers indicated 44% plan to buy fewer IGT machines this year.
    • Likewise, Kent thinks SGMS could suffer "growing pains" related to the Bally Technologies merger, and notes it's "the single most levered company in our coverage [universe]," with $8.4B in net debt. Capex needs, meanwhile, are seen potentially offsetting operating expense cuts.
    | Aug. 19, 2015, 12:32 PM | 3 Comments
  • Aug. 11, 2015, 2:13 PM
    • IGT has rallied towards $20 on a down day for stocks after beating Q2 EPS estimates, slightly missing on revenue, and announcing a $0.20/share post-merger quarterly dividend.
    • Cost savings related to the Gtech merger provided a lift to EPS. IGT is aiming for $230M/year in cost synergies by April 2018, and to achieve 2/3 of this total by April 2016.
    • Though officially rising 36% Y/Y, Q2 revenue fell 9% on a pro forma (merger-adjusted) basis. North American Gaming & Interactive revenue -8% to $353M; North American Lottery +14% to $270M (-3% exc. year-ago penalties); International +2% to $247M (+17% exc. forex); Italy -22% to $432M (-4% exc. forex).
    • North American machine and social gaming revenue was strong, while non-machine and participation revenue was soft. International sales benefited from lottery terminal and machine growth; Italian sales benefited from lottery growth, and were hurt by higher taxes.
    • IGT ended Q2 with $557M in cash, and $8.38B in net debt.
    • Q2 results, PR
    | Aug. 11, 2015, 2:13 PM
  • Aug. 11, 2015, 7:37 AM
    • International Game Technology (NYSE:IGT) declares $0.20/share quarterly dividend, 81.8% increase from prior dividend of $0.11.
    • Forward yield 4.21%
    • Payable Sept. 10; for shareholders of record Aug. 26; ex-div Aug. 24.
    | Aug. 11, 2015, 7:37 AM
  • Aug. 11, 2015, 7:07 AM
    • International Game Technology (NYSE:IGT): Q2 EPS of $0.35 beats by $0.07.
    • Revenue of $1.29B (+36.5% Y/Y) misses by $10M.
    | Aug. 11, 2015, 7:07 AM
  • Jul. 21, 2015, 11:20 AM
    • MGM Resorts (MGM +0.5%) is working on introducing next-gen wagering technology to be used in states where sports betting is legal. A mobile app is expected as early as this November.
    • The company is tasking International Game Technology (IGT +0.8%) with designing the full booking system.
    • MGM has increased its focus on sports betting revenue after opening its new 20K-seat arena on the Las Vegas Strip and with daily fantasy game popularity rising.
    • There's also the possibility that more states will legalize sports betting. International Game Technology is well-positioned to benefit from that trend.
    | Jul. 21, 2015, 11:20 AM
  • Jun. 29, 2015, 1:47 PM
    • The Internet Poker Freedom Act was introduced last week in the House of Representatives by Rep. Joe Barton from Texas. The bill aims to legalize online poker under a federal framework.
    • The Senate has the Restoration of America’s Wire Act in front of it which calls for a major crackdown on all forms of online gambling. Las Vegas Sands (LVS -1.8%) chairman Sheldon Adelson is a sponsor of the legislation and longtime advocate of banning online gambling.
    • The burgeoning sports betting industry which includes daily fantasy game sites such as FanDuel and DraftKings will be watching the developments on Capital Hill closely.
    • Previously: Momentum builds for legalized sports betting (March 10)
    | Jun. 29, 2015, 1:47 PM | 13 Comments
  • May 15, 2015, 4:07 PM
    • Senate Bill 9 has been passed by both legislative chambers in Nevada, clearing the way for skills-based casino floor games.
    • The development also opens a door for videogame sellers to create or license casino versions of their popular titles.
    • The casino industry has its eyes on attracting millennials after seeing the group show tepid demand for classic table games and slot machines.
    • New Jersey and Mississippi have also set the stage for casino floor innovation with similar legislation.
    • Previously: Paging Steve Nash to the Borgata (Feb. 13)
    • Related ETFs: BJK
    | May 15, 2015, 4:07 PM | 10 Comments
  • May 13, 2015, 7:10 AM
    • International Game Technology (NYSE:IGT): FQ2 EPS of $0.09
    • Revenue of $399.4M (-22.1% Y/Y)
    | May 13, 2015, 7:10 AM
  • May 12, 2015, 5:30 PM
    | May 12, 2015, 5:30 PM | 1 Comment
  • May 12, 2015, 12:51 PM
    • Senator Harry Reid says he will consider supporting a full ban of online gaming in the U.S. if he can't carve out an exemption for poker.
    • Currently, there is a bill floating around the House of Representatives that stands a decent chance of making it to the Senate this year.
    • Most casino operators support online gaming due to the strength of their brand, although a notable exception is Las Vegas Sands (NYSE:LVS) with outspoken CEO Sheldon Adelson.
    • A federal ban on online gaming could also have implications for the growing online sports fantasy games industry which has steered clear of tight regulatory review so far.
    | May 12, 2015, 12:51 PM | 16 Comments
  • Apr. 17, 2015, 5:36 PM
    • Top gainers, as of 5:15 p.m.: MDVN +2.5%. PH +2.4%. VSLR +2.2%. E +2.1%. FXCM +1.9%.
    • Top losers, as of 5:15 p.m.: FARO -13.2%. IGT -3.9%. CRIS -3.2%. YOKU -2.0%. MNK -1.9%.
    | Apr. 17, 2015, 5:36 PM | 2 Comments
  • Apr. 16, 2015, 3:19 PM
    • Today's notable tech gainers include Chinese online gaming/entertainment platform YY (YY +4.5%), Chinese search engine/portal owner Sohu (SOHU +5.4%), U.S. solar installer Vivint (VSLR +4.9%), U.S. solar installer Vivint (VSLR +4.9%), solar power optimizer/inverter maker SolarEdge (SEDG +5%), M2M hardware/software provider I.D. Systems (IDSY +8.9%), DSP core IP provider Ceva (CEVA +7.2%), cloud healthcare software provider Castlight (CSLT +6.1%), and NAND controller/4G transceiver vendor Silicon Motion (SIMO +4.8%). The Nasdaq is nearly flat.
    • Notable decliners include local services marketplace Angie's List (ANGI -6.6%), IP licensing firm Acacia (ACTG -4.4%), and gaming system maker IGT (IGT -5.1%).
    • Dougherty has launched coverage on I.D. Systems at Buy, and Canaccord has done the same for Ceva. Vivint is one of several solar firms to get an Outperform rating from Avondale Partners. Silicon Motion has surged to fresh 52-week highs, and is up 22% since last week's Q1 pre-announcement.
    • Angie's List is giving back some of the big gains seen yesterday after announcing long-time CEO Bill Oesterle plans to retire, and slightly hiking its 2015 adjusted EBITDA guidance. IGT is returning a chunk of the gains seen last week following the closing of the Gtech merger.
    • Previously covered: Etsy, AMD, Fairchild, SanDisk,, Audience, Travelzoo, Sequans, Carbonite, Identiv
    | Apr. 16, 2015, 3:19 PM | 1 Comment
  • Apr. 7, 2015, 12:53 PM
    • IGT's $4.7B merger with Italian lottery system/service provider Gtech is officially on the books. On their first day of trading, the post-merger company's shares have surged towards $20.
    • The merged company, which goes under the IGT name, is the world's biggest provider of both lottery and gaming machines. Its total annual sales top $6B.
    | Apr. 7, 2015, 12:53 PM | 1 Comment
Company Description
International Game Technology PLC., engages in end-to-end gaming company. The company is headquartered in Las Vegas, NV.
Sector: Technology
Industry: Diversified Computer Systems
Country: United States