IGT said it has successfully priced $750 million 4.12% senior notes and will use the proceeds to refinance existing debt.
IGT company filing
The role of casino employees, who play a central tenet in ensuring guest satisfaction, has had to pivot due to Covid-19 from that of being the perfect host to enforcing strict health and safety guidelines.
While the past six months have undoubtedly been devastating for the gaming industry, in just a short space of time suppliers have shown their ability to adapt and react, releasing new products for the new reality and refocusing business models.
International Game Technology announced that Walter Bugno, executive vice president of new business and strategic initiatives, has resigned to pursue a new professional opportunity. Mr. Bugno will continue in his current position until May 14, 2021.
IGT has adapted its business to the new normal to deliver business growth for our customers. During 2020 we continued with gaming innovation, new system updates and additions as well as growing our electronic table games portfolio.
Union Gaming analyst John DeCree declared in a note that “IGT's lottery business was once again a shining star in 4Q20. "Globally, sales for instant ticket and draw games increased 8% in 4Q20 following nearly 11% growth in 3Q20."
IGT said it expects its revenue and operating income from continuing operations to be higher in Q1, both year-on-year and sequentially. Global lottery is likely to be up "significantly," while global gaming will be in line with Q4 as Covid restrictions continue
International Game Technology and Scientific Games Corporation have signed a cross-licensing agreement for patents related to cashless slot gaming technologies.
International Game Technology has announced that its subsidiary, IGT Global Solutions Corporation, has extended its agreement with supplier Global Payments Gaming Solutions to continue enabling guaranteed Automated Clearing House (ACH) bank funds transfers through seamless integration with IGT’s proprietary IGTPay payment gateway.
“We all know how heavily the industry has been impacted by COVID-19, but the crisis has shown how our customers that invested in our ADVANTAGE system really did have an advantage,” said Nelson Cheung, System Sales, IGT Asia.
Gaming suppliers, like all areas of the industry, have felt the pinch from the Covid-19 crisis, though their growing digital businesses have proved a bright spot and helped offset the impact of the crisis.