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MarketScreener Homepage  >  Equities  >  Nyse  >  International Game Technology PLC    IGT   GB00BVG7F061

INTERNATIONAL GAME TECHNOLOGY PLC

(IGT)
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International Game Technology : Nationwide Momentum Increases for New IGT Cobalt 27 Cabinet with VLT Distribution Approval in Louisiana

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07/13/2020 | 05:16pm EDT
Nationwide Momentum Increases for New IGT Cobalt 27 Cabinet with VLT Distribution Approval in Louisiana

Louisiana launch features U.S. debut of IGT's Reel Poker games including Siberian Storm and The Wild Life Extreme

LONDON - International Game Technology PLC ('IGT') (NYSE: IGT) announced today that the Company has satisfied regulatory requirements to debut its Cobalt™ 27 video lottery terminal ('VLT') with exciting new IGT Reel Poker™ content in Louisiana. The first two IGT games to be featured as part of Reel Poker will be Siberian Storm® and The Wild Life Extreme®. The multi-game set will also feature 10 new video poker themes including, Pharaoh's Fortune® Poker and player-favorite theme, Xtreme 10-Hand Poker.

'The IGT Cobalt 27 VLT cabinet has driven great performance and player excitement since its recent launch in Montana and Georgia, and we're excited to expand our Cobalt 27 footprint in Louisiana with the premiere of the Siberian Storm and The Wild Life Extreme Reel Poker games,' said Nick Khin, IGT Chief Operating Officer, Gaming. 'IGT currently has more than 7,000 VLTs throughout Louisiana and we're poised to even further advance our presence with the industry's most compelling hardware and content.'

The Cobalt 27 VLT is expertly designed to fit operators' distinct needs. It features two high-definition 27-inch screens, an optional 24-inch topper, integrated cabinet lighting and a static five-button player panel. It also has advanced ergonomics and a built-in USB charging port for ultimate comfort and convenience.

IGT's innovative Reel Poker games offer a revolutionary way to play video poker. Entertaining VLT reel games and bonus displays are now available based upon video poker outcomes. IGT's Reel Poker games use an auto-play strategy to select optimum poker hand outcomes based on a shuffled, virtual 52-card deck. When the game's reels stop spinning, the corresponding poker hand outcome is simultaneously displayed on VLT screen. This patent-pending solution leverages IGT's industry-leading library of VLT reel games delivering proven themes players recognize and enjoy playing.

For more information, visit IGT.com or go to Facebook at facebook.com/IGT, follow us on Twitter at twitter.com/IGTnews or watch IGT videos on YouTube at youtube.com/igt.

About IGT

IGT (NYSE:IGT) is the global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Gaming Machines and Lotteries to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, our solutions deliver unrivalled gaming experiences that engage players and drive growth. We have a well-established local presence and relationships with governments and regulators in more than 100 countries around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 12,000 employees. For more information, please visit www.IGT.com.

Cautionary Statement Regarding Forward-Looking Statements

This news release may contain forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning International Game Technology PLC and its consolidated subsidiaries (the 'Company') and other matters. These statements may discuss goals, intentions, and expectations as to future plans, trends, events, dividends, results of operations, or financial condition, or otherwise, based on current beliefs of the management of the Company as well as assumptions made by, and information currently available to, such management. Forward-looking statements may be accompanied by words such as 'aim,' 'anticipate,' 'believe,' 'plan,' 'could,' 'would,' 'should,' 'shall', 'continue,' 'estimate,' 'expect,' 'forecast,' 'future,' 'guidance,' 'intend,' 'may,' 'will,' 'possible,' 'potential,' 'predict,' 'project' or the negative or other variations of them. These forward-looking statements speak only as of the date on which such statements are made and are subject to various risks and uncertainties, many of which are outside the Company's control. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may differ materially from those predicted in the forward-looking statements and from past results, performance, or achievements. Therefore, you should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include (but are not limited to) the uncertainty of the duration, extent, and effects of the COVID-19 pandemic and the response of governments, including government-mandated property closures and travel restrictions, and other third parties on the Company's business, results of operations, cash flows, liquidity and development prospects and the factors and risks described in the Company's annual report on Form 20-F for the financial year ended December 31, 2019 and other documents filed from time to time with the SEC, which are available on the SEC's website at www.sec.gov and on the investor relations section of the Company's website at www.IGT.com. Except as required under applicable law, the Company does not assume any obligation to update these forward-looking statements. You should carefully consider these factors and other risks and uncertainties that affect the Company's business. Nothing in this news release is intended, or is to be construed, as a profit forecast or to be interpreted to mean that the financial performance of International Game Technology PLC for the current or any future financial years will necessarily match or exceed the historical published financial performance or International Game Technology PLC, as applicable. All forward-looking statements contained in this news release are qualified in their entirety by this cautionary statement. All subsequent written or oral forward-looking statements attributable to International Game Technology PLC, or persons acting on its behalf, are expressly qualified in their entirety by this cautionary statement.

# # #

Contact:

Phil O'Shaughnessy, Global Communications, toll free in U.S./Canada +1 (844) IGT-7452; outside U.S./Canada +1 (401) 392-7452
Francesco Luti, +39 3485475493; for Italian media inquiries
James Hurley, Investor Relations, +1 (401) 392-7190
Kimberly Fraser, Global Communications, +1 (401) 301-8561

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Disclaimer

IGT - International Game Technology plc published this content on 13 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 July 2020 21:15:02 UTC

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Financials (USD)
Sales 2020 3 257 M - -
Net income 2020 -541 M - -
Net Debt 2020 7 250 M - -
P/E ratio 2020 -4,29x
Yield 2020 1,89%
Capitalization 2 159 M 2 159 M -
EV / Sales 2020 2,89x
EV / Sales 2021 2,18x
Nbr of Employees 11 791
Free-Float 48,2%
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 9,97 $
Last Close Price 10,56 $
Spread / Highest target 42,0%
Spread / Average Target -5,62%
Spread / Lowest Target -52,7%
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Marco Sala Chief Executive Officer & Director
Lorenzo Pellicioli Chairman
Massimiliano Chiara Chief Financial Officer, Director & Executive VP
Alberto Dessy Independent Non-Executive Director
James Francis McCann Vice Chairman
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