International Game Technology Slot Machine

International Game Technology Slot Machine – Gaming provider International Game Technology (IGT) announced on Monday its attendance at the 19th edition of the Peru Gaming Show 2022(PGS 2022), which will take place on June 15-16 at the Centro de Exposiciones Jockey, in Lima.IGT’s headliners The Peru Gaming Show (PGS) will cover several categories, including new standalone games, hardware, and multi-level progressive (MLP) slots.

The company stated that it will present first-class solutions, services, and content under the theme “Reactiva Peru by IGT”, as it seeks to strengthen its presence in the Peruvian gaming market through “strategic aligning with customers and delivering performance-driven products. .”

International Game Technology Slot Machine

Regarding its MLP category, the company says that “building on the growing trend of players who embrace constant mid-sized jackpots and exciting progressive wins” its game designers use new or and proven mechanics to develop the “best content” and the “most diverse” MLP library.

International Game Technology: A Lottery Bet That’s Paying Off

This year at PGS, highlights of IGT’s MLP portfolio will include the Egyptian Link game, which features exciting discovery, jackpot, and transformation features that can lead to free game bonuses and big wins. . In addition, Super Wheelmania Link offers entertainment and performance potential with festive themes. Finally, IGT will introduce Fu Gui Hao Men and Prosperity Link. Both titles include Asian-inspired art packages, free games, multipliers, and lock and respin bonuses.

IGT’s MLP library is available in a range of premium cabinets, including the PeakSlant49, PeakSlant32, and CrystalDual 27, which combine first-rate ergonomics and technical features. The company added that all of its MLP games “go through their renowned test bank and performance testing programs that help customers deploy the company’s games with confidence.”

Rounding out the highlights of IGT’s PGS portfolio is the USwitch multi-game pack. With an intuitive game selector and player interface, the USwitch multi-game pack will be displayed in IGT’s Cobalt 27 cabinet with two high-definition 27-inch screens and a 24-inch video topper.

The company will also show how operators can increase performance with the comprehensive Floor Manager solution under the IGT ADVANTAGE casino management system. The versatile solution enables customers to change their casino floor mix based on real-time casino events and provides players with the entertainment they want while reducing operating costs.

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“We are pleased to partner with PGS and showcase the next generation of IGT games that will bring player experiences to a new level in Peru. IGT is dedicated to offering customers solutions to engage -together again and entertain players in this important market,” concluded Jessica Luna, IGT Senior Director Strategic Accounts, LatAm. Back in the day during my senior years in casino management, I visited a small slot machine factory called Sircoma with my team to see a demonstration of a dramatic departure from slots: video poker. and blackjack machines. Instead of spinning reels, the window shows a television screen of rotating symbols that appear. We placed a test order for ten machines, five poker and five blackjack, installed them in the worst location on the casino floor and waited.

Within a week the customers gave their verdict. Video slots are better than the new Bally standard wide body reel machines by hundreds of dollars a day. The models increased in popularity, the company changed its name to International Game Technology (NYSE:IGT) and moved to a larger plant outside of Reno. The company also owns a small Reno grind property called Peppermill there. But it’s clear that its future lies in gaming tech. And what a future it is.

The inevitable public issue of stock in 1981 rose from the start. The market was stunned by the huge margins the machines commanded at $7,000 each. In 1975, the company had sales of $3m. It debuted at $0.50 a share. At the time of the public issue, it had grown to over $61m in sales. IGT machines fetch double the standard price tag of reel machines. At one point in 2006 as I recall, the stock was trading above $46 a share. This victory was quickly followed by another bonanza, the creation of Megabucks’ millions of progressive linked slot machine systems in the early 1980s with a share of the profits between the casino and the supplier. A real gold mine was created.

It was during the eighties and early nineties. Then as a large public company, without founding entrepreneurs, it began a madcap pace of acquisitions to diversify its product lines and services. After a long siege of activist unrest, the company was acquired by another game tech company specializing in the lottery. In 2014 GTECH, based in Rhode Island, a unit of Lottomatica S.p.A. of Italy, bought IGT for $6.4b including $1.7b in assumed debt. So you have a slot machine maker and a monitoring unit system linked to an EU lottery giant. The stock is difficult to understand because of its global reach relative to US dominance in the slot machine business.

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In all this turmoil, the core growth implied by the company’s worldwide footprint in all subsectors of the game drove the stock price in 2007 to a high of $41.26. From its debut in 1981 as a penny stock, investors along the way were encouraged by the many strong reports of analysts who made great returns by entering and exiting it over time. But eventually, as it piled up debt, it lost its allure.

GTECH and IGT completed their merger in the spring of 2015 and created the largest source of gaming technology solutions in the world. On April 7, 2015, the stock began trading under the legacy name: International Game Technology.

Thus the IGT we know today has become a highly diversified supplier of gaming equipment and services operating in over 100 countries worldwide. It has a base in slot machines and systems, lottery contracts for technology services and operations, and a B2B entry as a major pick and shovel supplier to online gaming and sports betting platforms as well. Currently, IGT operates as a system supplier in 12 US sports betting states.

Like all gaming players, IGT’s stock has taken a big hit in the pandemic due to the mass exodus of customers from brick-and-mortar casinos where they have installed slot machines. sitting idly. Its lottery business is doing better and its global reach has helped it survive the pandemic onslaught.

Why International Game Technology Stock Fell 16.8% On Tuesday

The key to the stock’s trading pattern is, in our view, that investors don’t really understand how all the pieces of the company fit together after the endless run of mergers, proxy fights and takeovers since ’90s. On top of that, much of the growth was financed by debt, building a leverage that turned off many analysts.

Additionally, peer gaming tech entries such as Scientific Games Corp. (SGMS) at the same time followed a similar path towards expansion, combining the slot machine business (Bally) with their instant lottery ticket base and adding sports betting and systems management units as well. If you want to invest in the sector, there are peers that seem to have a better story like SGMS. That company is currently trading at ~$60 a share.

IGT’s 1Q’21 results provide an indication of the unpacking of a future buying story. The company showed improvements in the flow of business as the pandemic began. It also shows that its global footprint lives simultaneously in the US and the EU. And to add to the attraction in our view is their debt repayment of $251m which puts their net debt at $7.06b down y/y from $7.39b. This reduced their net leverage to 6.39x, a way to be sure, but heading in the right direction. In its earnings call, management also said it expects to continue its cost-savings program through 2021 and 2022, forecasting a net savings of $200m.

This now gives IGT even more operational flexibility to build its B2B online gaming tech business that currently operates in 12 US states where sports betting is legal. There is plenty of room for growth here over the next 24 months. Our view is for CAGR to average ~30% annually over the next 5 years, assuming overall recovery from pandemic effects in mid to late Q3 2022. Starting it has an installed base of over 15,000 international games.

International Game Technology Png Images

Revenue: $1.01b up from $814m y/y, a 25% increase while still in early pandemic endgame mode. As the worldwide reopening of casinos expands, bringing slot players back to a flood of pent-up demand, IGT’s slot business has a sunny outlook. We will see this momentum gather in late Q3 to early Q4 with 2022 promising a closer performance of global brick-and-mortar revenue to the pre-pandemic 2019 base. year.

Operating income came in at $337m, leaving an Adjusted EBITDA of $447m. The company expects same-store lottery growth to hit 20% in Q2 y/y from 2019.

The Forward P/E of 38.31 may be rich compared to some peers, but we are entering a period where we believe a slow but certain recovery in all areas of IGT’s business is about to gain steam. . We don’t think this prospect is baked into investor sentiment here. You have gaming machines that look like a casino

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