International Game Technology Signs Contract With the Virginia Lottery

March 29, 2016: International Game Technology subsidiary signs 7-year contract with the Virginia Lottery to provide lottery technology and services; no financial terms disclosed. Subsidiary IGT Global Solutions Corporation has signed a seven-year contract with the Virginia Lottery for the provision of new lottery technology and services, following a competitive procurement process. The initial term of the contract runs through October 21, 2024, and allows for two three-year extension options.

Under the contract terms, the Virginia Lottery will receive components of IGT’s Auroraplatform. Aurora Open Retail (f/k/a NEOS), a new retail solution software architecture, will enable the Lottery to support multiple types of retailer solution devices in an efficient manner, improving time to market. The Aurora Lottery Services Portal, a robust, interactive website, will provide the tools independent and corporate retailers need to successfully start, manage, and grow their lottery business without being tied to a lottery terminal. In addition, the Lottery will receive Aurora Navigator (f/k/a NVISION) back-office applications for lottery personnel who will have the ability to customize the look and feel of the interface to meet their exact needs, help them better manage their business, and enhance productivity.

The Virginia Lottery will also receive 5,500 AlturaFlex draw-based lottery terminals which feature a highly-configurable platform derived from IGT’s Altura GT1200 product, and a smaller footprint.

More International Game Technology News

March 22, 2016: Tier 1 firm reiterates a Buy rating on International Game Technology, and sets a price target of $23.

March 17, 2016: International Game Technology reports Q4 2015 EPS of $0.63 versus the $0.42 estimate. Revenue also beat coming in at $1.37 billion versus the $1.29 billion estimate.

The CFO says, “As we look to 2016, we are forecasting growth for our core operations, while incremental synergies are expected to mitigate certain anticipated headwinds. Our financial condition is solid, placing us in a strong position to pursue our growth objectives, continue to reduce debt, and remunerate our shareholders.”

International Game Technology PLC operates and provides a range of services and technology products across lotteries, machine gaming, sports betting, and interactive gaming markets in North America, Asia, and Europe. IGT’s acquisition of DoubleDown Interactive provides engaging social casino style entertainment to approximately 5 million players monthly.

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Lance Jepsen

For ethical purposes, I try not to hold any position in any stock I profile on GuerillaStockTrading.com unless specifically stated in the article. Owner of GuerillaStockTrading.com. Seasoned entrepreneur, investor, and writer. I love God, family, country, stock trading, economics, and helping people learn how to trade.
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Author: Lance Jepsen

For ethical purposes, I try not to hold any position in any stock I profile on GuerillaStockTrading.com unless specifically stated in the article. Owner of GuerillaStockTrading.com. Seasoned entrepreneur, investor, and writer. I love God, family, country, stock trading, economics, and helping people learn how to trade.

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