Nov. 6, 2014, 4:07 PM| Comment!
Sep. 26, 2014, 7:42 AM
Aug. 20, 2014, 8:41 AM| 1 Comment
Aug. 1, 2014, 7:50 AM
- The combination of Scientific Games (NASDAQ:SGMS) and Bally Technologies (NYSE:BYI) will create a gaming and lottery juggernaut able to stir up $220M in annual cost synergies and $25M in annual capex spending savings, according to the companies.
- The pairing will also see "accelerated utilization" of various tax attributes on U.S. income which will help the bottom line.
- The lush premium paid for Bally could give a lift sector peers Multimedia Games (NASDAQ:MGAM) and International Game Technology (NYSE:IGT) today.
- Premarket: IGT +1.9%, MGAM no action yet.
Jul. 29, 2014, 4:13 PM| Comment!
Jul. 28, 2014, 5:35 PM
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Jul. 16, 2014, 9:14 AM
Jul. 16, 2014, 5:56 AM
- Gtech (OTCPK:GTKYY) has agreed to buy International Game Technology (NYSE:IGT) in a cash and stock deal worth $4.7B.
- Gtech will pay an 18% premium on IGT's yesterdays closing stock price of $15.50 per share. Total transaction value is approximately $6.4B, as Gtech will assume $1.75B in existing IGT debt.
- At a time when the gambling industry is experiencing slower growth, the new deal will link the world’s main provider of lottery systems with the largest slot-machine maker.
- IGT +8.7% premarket
Jul. 10, 2014, 9:14 AM| 6 Comments
Jun. 27, 2014, 10:05 AM
- Started at Buy are Wynn Resorts (WYNN -0.2%), Multimedia Games (MGAM +1.5%), MGM Resorts (MGM), and Melco Crown (MPEL +0.7%).
- Initiated at Neutral are Bally Technologies (BYI -0.3%), International Game Technology (IGT -0.1%), Las Vegas Sands (LVS -0.5%), Pinnacle Entertainment (PNK +0.6%), and Scientific Games (SGMS -1.4%).
- Underperform: Boyd Gaming (BYD -1.2%).
- In other news, Las Vegas Strip win revenue of $592.9M in May rose 17.3% Y/Y according to the Nevada Gaming Control Board. The state's nonrestricted gaming licensees reported total gaming win of $970M in May, up 8.1% from a year ago.
Jun. 16, 2014, 7:37 AM| 1 Comment
Jun. 13, 2014, 12:43 PM
- Holding company MacAndrews & Forbes is interested in bidding for IGT, as are P-E firms Apollo Global and Carlyle, Reuters reports.
- The news service reported on Monday IGT had "attracted interest from other gaming companies as well as private equity firms," but didn't give names.
- Scientific Games (SGMS) and Bally (BYI) are once more following IGT higher.
Jun. 13, 2014, 8:37 AM| Comment!
Jun. 12, 2014, 5:36 PM
- Cimarex Energy (XEC) +1.5% AH on news it will replace International Game Technology (IGT) in the S&P 500: IGT will replace XEC in the S&P MidCap 400.
- Live Nation Entertainment (LYV) and ARRIS Group (ARRS) will replace Masimo (MASI) and Brink’s (BCO) in the S&P MidCap 400, with the latter two dropping down to the S&P SmallCap 600.
Jun. 9, 2014, 4:00 PM
- Reuters reports IGT (IGT +14.3%) has "attracted interest from other gaming companies as well as private equity firms," as it works with Morgan Stanley to explore a sale.
- Presentations for prospective buyers are reportedly being held. Sources caution uncertainty related to the selloff in IGT's shares could turn buyers away, and that a lengthy regulatory review process might await.
- Tumbling gaming product sales have and soft game operations revenue have led IGT to deliver multiple earnings disappointments. The company's interactive (social gaming) ops have fared better.
- Peers Scientific Games (SGMS +5.1%) and Bally (BYI +1%) have received sympathy bids.
- Earlier: IGT jumps on takeover talk
Jun. 9, 2014, 3:27 PM
IGT vs. ETF Alternatives
International Game Technology PLC is an end-to-end gaming company. The Company is engaged in providing lottery and gaming technology solutions and services from Gaming Machines and Lotteries to Interactive and Social Gaming.
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