U.K.-based International Game Technology PLC reported a first-quarter adjusted profit that beat expectations but revenue that fell below forecasts, and withdrew its full-year outlook as a result of uncertainties associated with the COVID-19 pandemic. The electronic gaming company swung to a net loss of $248.3 million, or $1.21 a share, from net income of $40.3 million, or 20 cents a share, in the year-ago period. Excluding non-recurring items, such a $296 million impairment charge, adjusted earnings per share fell to 8 cents from 12 cents but beat the FactSet consensus of 1 cent. Revenue fell 6% to $940.2 million, to miss the FactSet consensus of $957.9 million. The company said the lower revenue reflects the closing of casinos and gaming halls as a result of the pandemic, lower lottery service revenue on reduced traffic to points of sale and fewer unit shipments. The company withdrew its 2020 outlook, citing uncertainties associated with the impact of the COVID-19 pandemic. The company said it has identified $500 million in cost savings and reduced capital expenditures, through actions including salary reductions, furloughs and hiring freezes. The stock, which was still inactive in premarket trading, has tumbled 53.0% over the past three months, while the S&P 500 has declined 15.0%.
IGT Global Solutions Corporation, a wholly-owned subsidiary of International Game Technology PLC ("IGT") (NYSE: IGT), and William Hill U.S., a subsidiary of William Hill PLC (LON: WMH), today announced the release of enhanced versions of both the Sportsbook Rhode Island mobile app and website.
International Game Technology PLC ("IGT") (NYSE:IGT) will host a conference call and live webcast to discuss first quarter 2020 results for the period ended March 31, 2020 on Monday, May 18, 2020.
International Game Technology PLC ("IGT") (NYSE: IGT) announces that it has today published its Notice of the 2020 Annual General Meeting ("AGM") and 2019 Annual Report and Accounts for the period from January 1, 2019 to December 31, 2019. IGT provided information for the AGM, which will be held at IGT's Registered Office, Marble Arch House, 66 Seymour Street, Second Floor, London, W1H 5BT, on June 25, 2020, at 3:00 p.m. British Summer Time (BST).
International Game Technology PLC (NYSE:IGT) ("IGT" or the "Company") today announced the appointment of Alberto Dessy to its Audit Committee, Samantha Ravich to its Compensation Committee and Beatrice Bassey to its Nominating and Corporate Governance Committee by the Company's Board of Directors. All of these changes will be effective from the Company's 2020 Annual General Meeting. Mr. Dessy and Ms. Ravich joined the Board of Directors in April 2015 and July 2019, respectively, and will replace Paget Alves on the Audit Committee and the Compensation Committee, respectively. Ms. Bassey joined the Board of Directors in March 2020 and will succeed Mr. Dessy on the Nomination and Corporate Governance Committee, from which he will step down effective from the Company's 2020 Annual General Meeting.
IGT (IGT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
International Game Technology PLC ("IGT") (NYSE: IGT) announced today that its PlaySports platform will power retail and mobile sports betting at Wild Card Saloon and Sasquatch Casino in Black Hawk, Colo. Owned and operated by privately held gaming company, Ed & Shirley's Inc., both casinos will leverage IGT PlaySports kiosks, platform and mobile technologies to give their patrons choice and convenience for how, when and where they place sports bets.
International Game Technology PLC (NYSE:IGT) ("IGT") today announced amendments to its Revolving Credit Facilities Agreement and Term Loan Facility Agreement (together, the "Amendments").
International Game Technology PLC (NYSE: IGT) today announced that its subsidiary, IGT Global Solutions Corporation (hereinafter "IGT"), signed a six-year contract with the Virginia Lottery to provide Scratcher tickets, strategic planning and services, following a competitive procurement. Under the agreement, IGT will become the primary vendor for instant ticket games for the first time in Virginia and will print, on average, 90 percent of the Lottery's Scratcher tickets annually. The contract will run through June 30, 2026 and includes the option to extend for up to four additional years.
International Game Technology PLC ("IGT") (NYSE:IGT) today reported financial results for the first quarter ended March 31, 2020. Today, at 8:00 a.m. EDT, management will host a conference call and webcast to present the results; access details are provided below.
Shares of International Game Technology (NYSE:IGT) moved higher by 1.0% in pre-market trading after the company reported Q1 results.Quarterly Results Earnings per share decreased 33.33% over the past year to $0.08, which beat the estimate of $0.04.Revenue of $940,195,000 declined by 17.89% from the same period last year, which missed the estimate of $1,010,000,000.Outlook Intl Game Tech hasn't issued any earnings guidance for the time being.Intl Game Tech hasn't issued any revenue guidance for the time being.Conference Call Details Date: May 18, 2020View more earnings on IGTTime: 08:00 AMET Webcast URL: https://edge.media-server.com/mmc/p/wtwoctzePrice Action 52-week high: $16.2552-week low: $3.59Price action over last quarter: down 27.16%Company Profile International Game Technology PLC is a gaming company that delivers entertaining and responsible gaming experiences for players across all channels and regulated segments, from Gaming Machines and Lotteries to Sports Betting and Digital. Its portfolio of gaming technology products and services includes lottery management services, online and instant lottery systems, gaming systems, instant ticket printing, electronic gaming machines, sports betting, digital gaming, and commercial services. It has four business segments operating in three regions: North America Gaming and Interactive, North America Lottery, International, and Italy.See more from Benzinga * Recap: Sogou Q1 Earnings * Recap: Niu Technologies Q1 Earnings * Recap: Kamada Q1 Earnings(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Casino giant Caesars’ mountains of debt raises uncertainty about its pending merger with Eldorado (ERI) amid the pandemic, says Dan Wasiolek, senior equity analyst at Morningstar.
International Game Technology PLC ("IGT") (NYSE:IGT) today announced that Dorothy Costa, who previously served as IGT Vice President of People and Transformation for North America, has been appointed as Global Head of People and Transformation, reporting to Marco Sala effective April 6, 2020. In her new role, Ms. Costa will have strategic oversight for the IGT People and Transformation function, including all business unit senior people partners and the total rewards, diversity & inclusion, organization transformation and global services and talent management centers of excellence.
IGT (IGT) delivered earnings and revenue surprises of 500.00% and 2.28%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
International Game Technology PLC (NYSE: IGT) announced today that its subsidiary, IGT Global Solutions Corporation (hereinafter "IGT"), signed a two-year contract extension with the Tennessee Education Lottery Corporation, extending its current contract to June, 2027. As part of the agreement, IGT's PlayDigital team will replace another vendor's entire loyalty solution and deliver comprehensive upgrades to the Lottery's loyalty website and mobile app, providing a full range of new player convenience features. The Lottery will also receive its choice of either GameTouch™ 20 or GameTouch 28 self-service vending machines.
International Game Technology PLC's (NYSE:IGT): International Game Technology PLC operates and provides gaming...
IGT earnings call for the period ending March 31, 2020.
International Game Technology PLC (NYSE:IGT) today announced that IGT Global Services Limited ("IGT") has signed a long-term contract with SAZKA a.s. (hereinafter "SAZKA"), the market-leading operator of lottery and betting games in the Czech Republic, to provide technology products and services through an upgraded lottery central system, next-generation lottery terminals, a new digital lottery platform, and associated content and services. The contract was effective as of March 31, 2020.
International Game Technology PLC ("IGT") (NYSE: IGT) announced today that its cashless gaming technology is propelling the new era of gaming at Svenska Spel venues throughout Sweden. Through IGT's INTELLIGEN™ systems product utilizing IGTPay™ technology, Svenska Spel players now have the option to easily and securely fund their play at Video Lottery Terminals ("VLTs") from their mobile devices.
International Game Technology PLC ("IGT") (NYSE: IGT) announced today that it recently signed an agreement with Circa Sports LLC, a Nevada limited liability company ("Circa Sports") to power the Circa Sports Colorado mobile sports betting app with the IGT PlaySports platform. Earlier this year, Circa Sports announced plans to launch its mobile app for Colorado in partnership with Century Casinos.