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International Game Technology Wins 3 Year Contract With Norsk Tipping

Posted by on February 7, 2017 7:06 AM
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February 7, 2017: International Game Technology announced that its subsidiary, IGT Global Services Limited has signed contracts with Norsk Tipping to provide interactive casino and Instant Win game libraries and custom games through a Remote Game Server (RGS) as part of a recent competitive procurement process. Norsk Tipping, Norway’s state lottery operator and a World Lottery Association (WLA) member, has been a valued customer of IGT, previously legacy GTECH, since 2013. No terms were disclosed.

The new contracts for the provision of games, which took effect on Feb. 1, 2017, are for three years with the option for an extension of one year. Related contracts for the operation of games will have initial three year terms from the date of regular operation and will be automatically renewed for one year at a time until a maximum of eight years. IGT will provide additional interactive casino and Instant Win content from its game libraries, as well as new games created exclusively for the regulated Norwegian market, through an RGS. IGT will also provide a selection of games through its Nordic sub-supplier Magnet Gaming. The games are expected to be deployed beginning in the second half of 2017.

In a separate contract, executed in September 2016, IGT received a two-year extension until March 2019 of its current contract with Norsk Tipping dated November 2012 for the ongoing provision of the interactive gaming platform.

Beginning in January 2014, Norsk Tipping went live with its successful Instaspill portfolio consisting of IGT iCasino, Instant Win, and Bingo titles, as well as the platform supplied exclusively by IGT.

In addition to Norsk Tipping, IGT’s Nordic WLA interactive customers include Veikkaus in Finland and Svenska Spel in Sweden.

January 18, 2017: International Game Technology announced that its subsidiary, IGT Canada Solutions ULC has signed a contract to provide Video Lottery Terminals (VLTs), a VLT Central System, site controllers, games, and operational services to AB Svenska Spel in Sweden as part of a competitive procurement process. IGT, as legacy GTECH, has been providing video lottery products and support services to Svenska Spel, operator of the Swedish national lottery and a World Lottery Association member, since 1996.

The contract, which commenced on January 9, 2017, is for seven years with the possibility of one-year extensions for up to three subsequent years, for a maximum term of 10 years. Under the contract term, Svenska Spel has agreed to a minimum 6,000 Quasar® VLTs, the INTELLIGEN™ Central System, a minimum 2,000 IGT site controllers, and more than 60 games. Operational services include continuous, 24/7 operation of the Gaming System, including VLTs, site controllers, and games from IGT’s market-leading omnichannel content portfolio.

International Game Technology CEO said, “Throughout the last two decades, we’ve successfully supported and enhanced Svenska Spel’s approach to protecting players while creating advanced solutions to meet their business objectives. This contract will help to ensure that Svenska Spel continues to responsibly grow and remain competitive in a rapidly changing marketplace. It will help to increase player engagement, ensure the long-term sustainability of their offering, and provide a safe gaming experience for their players, which is the cornerstone of Svenska Spel’s program.”

January 18, 2017: International Game Technology announced that its subsidiary, IGT Juegos S.A.S. (with International Game Technology PLC, hereinafter “IGT”) has signed a new five-year private operator contract to run the draw-based game “Baloto” for Coljuegos EICE (“Coljuegos”). The private operator contract was awarded as part of a public procurement process.

Under this new contract, IGT will continue operating the ONLINE LOTO-BALOTO game and provide full management services, including the central system, terminals, communications, data center operations, product, marketing, sales, and field services. The concession will begin in April 2017.

IGT, as legacy GTECH, was initially awarded a 10-year concession contract to bring the Baloto game to Colombian lottery players in December 1999. The first Baloto draw was held just over a year later in January 2001, and the game was an instant success.

Since 2001, IGT, previously as legacy GTECH, has generated 34,000 direct and indirect jobs and has transferred more than 1 billion Colombian pesos to Coljuegos for Colombia’s health sector. It has sold over 3.8 billion Colombian pesos in tickets and delivered approximately 1.9 billion Colombian pesos in prizes to more than 20 million winners.

January 17, 2017: International Game Technology signed an agreement with Socitde la Loterie Suisse Romande (“Loterie Romande”) to provide integrated Aurorasuite of solutions and services to the Swiss market. This agreement is an amendment to an existing 10-year agreement effective through to 2023. Loterie Romande has been a valued customer of IGT, previously as legacy GTECH, since 1994.

January 4, 2017: International Game Technology announced that its subsidiary, IGT Global Solutions Corporation has extended its multi-year contract with the Idaho Lottery to continue providing Scratch GamesTM printing services through March 2019. This is the second, two-year extension that has been exercised on the existing contract and was unanimously approved by the Idaho Lottery Commission during their regular meeting on November 17, 2016. In addition to providing Scratch GamesTM printing services to the Idaho Lottery, IGT will continue to support the Lottery with related products and services including game planning, ticket design, marketing support, and analytics. IGT currently provides over 70 percent of printing for the Idaho Lottery’s Scratch GamesTM, resulting in responsible, incremental sales growth year after year. Together, IGT and the Idaho Lottery have worked closely to deliver a portfolio of games with fun, new play styles to benefit the people of Idaho. In 2016, the Idaho Lottery broke records, returning $49.5 million to Idaho public schools and the Permanent Building Fund, a 10 percent increase from 2015.

December 15, 2016: International Game Technology announced that its subsidiary, IGT Foreign Holdings Corporation has signed a six-year contract extension to provide a lottery central system upgrade to Boldt Gaming SA, which, in turn, will provide the system to Instituto Provincial De Loterias y Casinos of the Province of Buenos Aires in Argentina. The central system will continue to process the Buenos Aires Lottery’s draw-based lottery transactions. IGT will also provide hardware and software support through September 2022. IGT, through its original agreement with Boldt Gaming, has been providing lottery products and support services to the Buenos Aires Lottery since 1993.

Under the upgrade, the Buenos Aires Lottery’s existing GOLS (Gaming On-Line System) central system will be replaced with a new, modern, and functionally-enhanced central system that includes hardware and software updates offering secure transaction processing as well as associated back-office applications for managing the Lottery’s business.

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The Finviz screener settings used to find International Game Technology are: Forward P/E Low (<15), Sales growth past 5 years Over 15%, Institutional Transactions Over +10%

International Game Technology is a global leader in casino gaming entertainment and continues to transform the industry by translating casino player experiences to social, mobile and interactive environments for markets around the world.

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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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