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International Game Technology trades down despite strong Q4 performance and stable outlook

Blurred defocused background of roulette at casino saloon - Gambling concept with unfocused game room with video poker slot machines and multicolored blurry lights

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  • International Game Technology (NYSE:IGT) reported Q4 revenue growth of 19% to $1B led by 45% growth in Global Gaming revenue, 9% and 27% increase in global lottery revenue and digital & betting revenue respectively.
  • Operating income

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Comments (2)

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OverTheHorizon profile picture
Stock buyback, dividend and three revenue streams. What’s not to like?
HardCovenant profile picture
@OverTheHorizon what do you think is really going on? I am not sure. Supply chain mess securing product parts. Retrenching from an international franchise to mostly US, using words like "focused" usually means boost the cash flow short term for a sale. Clearly no international strategy, just maintaining the current contracts. Challenges hiring and retaining execs. The buyback and dividend are check the box token amounts, stock is below the price they bought a few shares. Just look at Draft Kings stock price to know the market has figured out igaming in US is not profitable, tax drain and too competitive and IGT has no international expansion strategy. Billions have to be refinanced next few years and IGT still junk credit (BB+). Solid lottery cash flow but I can't figure out if an accountant is now CEO to find a buyer since Brookfield took their main lottery competitor so maybe the guys in Italy want to sell too. Can't blame the guys in Italy for wanting to sell I just note it is kind of obvious when there is no growth plan or international team beyond some tables in Michigan or podunk. The few sell side analysts like DB that cover IGT are children and don't go back 30 years with IGT and can't ask the questions that matter. No position
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