International Game Technology PLC to Host Third Quarter 2020 Results Conference Call on Thursday, November 12, 2020. Nov-05-20 12:30PM. Earnings Preview: International Game Technology (IGT) Q3 Earnings Expected to Decline. International Game Technology is trading at a lower price-to-earnings ratio than Churchill Downs, indicating that it is currently the more affordable of the two stocks. International Game Technology pays an annual dividend of $0.20 per share and has a dividend yield of 1.1%.

International Game Technology PLC (IGT), formerly Gtech S.p.A. and Lottomatica S.p.A., is a multinational gambling company that produces slot machines and other gambling technology. The company is headquartered in London, with major offices in Rome, Providence, Rhode Island, and Las Vegas. It is controlled, with a 51 percent stake, by De Agostini.^[4]

Italian gambling company Lottomatica acquired Gtech Corporation, a US gambling company, in August 2006, and later changed its own name to Gtech. Gtech managed many state and provincial lotteries in the US and had contracts with local and national lotteries in Europe, Australia, Latin America, the Caribbean, and Asia.

In 2015, the company acquired American gambling company International Game Technology and again adopted the acquired company's name as its own.

Current holdings[edit]

With the 2006 acquisition of Gtech, the company increased its global business activities due to a permanent presence of its employees in several countries throughout the world. IGT has operations in more than 100 countries worldwide, and deals with various ethnicities and nations with different levels of local employment laws. In order to meet these various requirements, IGT complies with the principles of the International Labor Office’s Tripartite Declaration of Principles concerning Multinational Enterprises and its social policy (Geneva 2000). In particular, the Company complies with all of the recommendations in the aforementioned declaration with regard to relations with staff in the various states.^[5]

In July 2014, Gtech agreed to acquire American company International Game Technology (IGT), the world's largest slot machine manufacturer, for a total of $6.4 billion, including $4.7 billion in cash and $1.7 billion in assumed debt. The companies combined under a new holding company based in the United Kingdom, and the Gtech name was dropped in favor of IGT.^[6][7]

In April 2015, Gtech completed its merger with IGT. The new combined company's name is International Game Technology PLC.^[8]

References[edit]

1. ^ ^abcForm 20-F: Annual Report (Report). International Game Technology. 29 April 2016. p. F-6 – via EDGAR.
2. ^ ^abForm 20-F: Annual Report (Report). International Game Technology. 29 April 2016. p. F-5 – via EDGAR.
3. ^Form 20-F: Annual Report (Report). International Game Technology. 29 April 2016. p. 32 – via EDGAR.
4. ^Form 20-F: Annual Report (Report). International Game Technology. 29 April 2016. p. 26 – via EDGAR.
5. ^'IGT_Sustainability_Report 2015_0807_h1313'. Retrieved 10 August 2016.
6. ^Howard Stutz (15 July 2014). 'IGT sold in $6.4 billion deal with lottery giant GTECH'. Las Vegas Review-Journal. Retrieved 16 July 2014.
7. ^https://finance.yahoo.com/news/gtech-p-announces-name-company-201200896.html
8. ^PLC (IGT), International Game Technology. 'GTECH And International Game Technology Complete Combination And Form The World's Leading End-To-End Gaming Company'. www.prnewswire.com.

External links[edit]

Igt International Game Technology Investor Relations

• Business data for International Game Technology plc:

LONDON, Oct. 29, 2020 /PRNewswire/ -- International GameTechnology PLC ('IGT' or the 'Company') (NYSE: IGT) and itssubsidiary Lottomatica Holding S.r.l ('Lottomatica') commentedtoday on an investigation by the Italy Judicial Authority intoalleged misconduct by four current employees, two formeremployees of IGT's subsidiary and people close to them, aimed atgaining unauthorized access to Lottomatica's systems in order toidentify and redeem four winning scratch-off lotterytickets.

Igt International Coaching

IGT takes this incident extremely seriously, and has, since thebeginning of the investigation, fully cooperated with the JudicialAuthority in order to facilitate the investigation into the allegedmisconduct and fully protect the integrity of its games and theinterests of its customers. As a precautionary measure, the Companysuspended the four employees as soon as it was aware of theinvestigation.

IGT has dedicated considerable resources to support the JudicialAuthority, conduct an internal investigation and fully evaluate thesituation. IGT has also taken prompt measures to thoroughly reviewits internal systems and processes designed to prevent criminal andfraudulent activities and further its state-of-the-artprotections.

IGT is dedicated to meeting its obligations to its regulators aswell as its customers, and remains focused on ensuring its businessis conducted at the highest levels of integrity. The Company iscontinuing to engage authorities with full transparency to assistin their ongoing investigation into this alleged misconduct.

About IGT

IGT (NYSE:IGT) is the global leader in gaming. We deliverentertaining and responsible gaming experiences for players acrossall channels and regulated segments, from Gaming Machines andLotteries to Sports Betting and Digital. Leveraging a wealth ofcompelling content, substantial investment in innovation, playerinsights, operational expertise, and leading-edge technology, oursolutions deliver unrivaled gaming experiences that engage playersand drive growth. We have a well-established local presence andrelationships with governments and regulators in more than 100countries around the world, and create value by adhering to thehighest standards of service, integrity, and responsibility. IGThas approximately 12,000 employees. For more information, pleasevisit www.igt.com.

Igt International Gaming Technology

Cautionary Statement Regarding Forward-LookingStatements

This news release may contain forward-looking statements(including within the meaning of the Private Securities LitigationReform Act of 1995) concerning International Game Technology PLCand its consolidated subsidiaries (the 'Company') and othermatters. These statements may discuss goals, intentions, andexpectations as to future plans, trends, events, dividends, resultsof operations, or financial condition, or otherwise, based oncurrent beliefs of the management of the Company as well asassumptions made by, and information currently available to, suchmanagement. Forward-looking statements may be accompanied by wordssuch 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 othervariations of them. These forward-looking statements speak only asof the date on which such statements are made and are subject tovarious risks and uncertainties, many of which are outside theCompany's control. Should one or more of these risks oruncertainties materialize, or should any of the underlyingassumptions prove incorrect, actual results may differ materiallyfrom those predicted in the forward-looking statements and frompast results, performance, or achievements. Therefore, you shouldnot place undue reliance on such statements. Factors that couldcause actual results to differ materially from those in theforward-looking statements include (but are not limited to) theuncertainty of the duration, extent, and effects of the COVID-19pandemic and the response of governments, includinggovernment-mandated property closures and travel restrictions, andother third parties on the Company's business, results ofoperations, cash flows, liquidity and development prospects and thefactors and risks described in the Company's annual report on Form20-F for the financial year ended December31, 2019 and other documents filed from time to time withthe SEC, which are available on the SEC's website at www.sec.govand on the investor relations section of the Company's website atwww.IGT.com. Except as required under applicable law, the Companydoes not assume any obligation to update these forward-lookingstatements. You should carefully consider these factors and otherrisks and uncertainties that affect the Company's business. Nothingin this news release is intended, or is to be construed, as aprofit forecast or to be interpreted to mean that the financialperformance of International Game Technology PLC for the current orany future financial years will necessarily match or exceed thehistorical published financial performance or International GameTechnology PLC, as applicable. All forward-looking statementscontained in this news release are qualified in their entirety bythis cautionary statement. All subsequent written or oralforward-looking statements attributable to International GameTechnology PLC, or persons acting on its behalf, are expresslyqualified in their entirety by this cautionary statement.

Contact:

Phil O'Shaughnessy, GlobalCommunications, toll free in U.S./Canada +1 (844) IGT-7452; outsideU.S./Canada +1 (401) 392-7452
Francesco Luti, +39 3485475493; forItalian media inquiries
James Hurley, Investor Relations, +1(401) 392-7190

© 2020 IGT

The trademarks and/or service marks used herein are eithertrademarks or registered trademarks of IGT, its affiliates or itslicensors.

View original content to downloadmultimedia:http://www.prnewswire.com/news-releases/igt-issues-statement-regarding-investigation-of-certain-employees-of-its-italian-subsidiary-lottomatica-301162883.html

SOURCE International Game Technology PLC