|Over a week ago|
International Game online unit worth $8 per share on own, says Deutsche Bank » 07:3803/2603/26/21
Deutsche Bank analyst…
Deutsche Bank analyst Carlo Santarelli keeps a Buy rating on International Game Technology with a $28 price target after meeting with management. The lottery business "remains very strong," with Q1 lottery trends up double digits from pre-pandemic levels in key locations, Santarelli tells investors in a research note. The analyst believes International Game's online vertical, internet casino, sports betting, and internet lottery, which contributed 5% of 2020 net revenue and EBITDA, would be worth $8 per share, on its own, "if valued akin to even the cheapest valuations from the peer group." He believes online gaming "remains free" in shares of International Game.
International Game receives distribution rights for Elvis Presley lottery games » 06:5303/1703/17/21
International Game announced that it has signed a multi-year licensing agreement with Authentic Brands Group, or ABG, granting IGT the exclusive property licensing rights to develop and distribute Elvis Presley-themed lottery games throughout the United States and Canada. In addition to instant tickets, draw-based games, and mobile and interactive games, IGT will develop turnkey second-chance promotions and experiences for lottery customers and their players. ABG is a global brand development, marketing, and entertainment company and owner of the Elvis Presley brand.
International Game call volume above normal and directionally bullish » 14:0503/1103/11/21
Bullish option flow…
Bullish option flow detected in International Game with 8,604 calls trading, 1.5x expected, and implied vol increasing almost 3 points to 65.45%. Apr-21 21 calls and Mar-21 19 calls are the most active options, with total volume in those strikes near 5,600 contracts. The Put/Call Ratio is 0.11. Earnings are expected on May 18th.
Loop Capital to hold a virtual conference » 10:5303/1103/11/21
DDD, AKAM, AOSL, AVD, CHEF, MHK, FIS, LGF.B, KSU, RRR, RCII, NDAQ, IFF, CROX, SCOR, XRX, UBER, WDAY, NGVT, QMCO, MXL, HPE, HPQ, CNK, ICE, IGT
2021 Consumer, Industrials, & TMT Investor Virtual Conference to be held on March 11-12. Webcast Link
|Over a month ago|
International Game price target raised to $25 from $22 at Macquarie » 06:2103/0303/03/21
Macquarie analyst Chad…
Macquarie analyst Chad Beynon raised the firm's price target on International Game to $25 from $22 and keeps an Outperform rating on the shares after its Q4 results. The company's lottery strength is "shining" as revenue rose 11% and EBITDA was up 17%, the analyst tells investors in a research note. Following the upcoming divestiture of Italy B2C, over 75% of International Game's EBITDA will come from its Lottery business, Beynon adds, stating that in spite of the company's double-digit North America sales growth, shares still trade at a 43% discount relative to global Lottery names.
International Game reports Q4 EPS ($1.18) vs. (82c) last year » 06:4903/0203/02/21
Reports Q4 revenue…
Reports Q4 revenue $885.13M, consensus $935.02M. "The solid results we achieved for this pandemic-impacted year have given us momentum into 2021. They are a result of the vision, agility, and discipline of the IGT team as well as the distinct advantages of our diverse portfolio," said Marco Sala, CEO of IGT. "We also made important strategic progress. The Company undertook a comprehensive reorganization to sharpen our focus on our core competencies and drive structural operational efficiencies. This provides a clear path to increasing shareholder value as we build on our leadership positions with a stronger revenue and profit growth profile."
International Game, Scientific Games sign cross-licensing agreement » 08:5603/0103/01/21
International Game Technology (IGT) and Scientific Games (SGMS) announced that they have signed a cross-licensing agreement for patents related to cashless slot gaming technologies. Under the agreement, Scientific Games and IGT will be able to offer patented cashless gaming technologies from the companies' combined portfolios of casino management systems solutions to the U.S. gaming industry. Financial terms of the agreement have not been disclosed.
International Game extends agreement with Mexico national lottery through 2022 » 06:5202/1602/16/21
International Game announced that its subsidiary, IGT Mexico Lottery, has extended its agreement with La Loteria Nacional para la Asistencia Publica, or LOTENAL, Mexico's national lottery, to continue providing an integrated draw-based/instant ticket system, draw-based lottery terminals, a communications network, and additional lottery products and ongoing services. The agreement, effective December 20, 2020, extends IGT's contract with the lottery to March 2, 2022. IGT's ongoing services to LOTENAL include lottery game transactions and instant ticket distribution across 8,200 terminals nationwide. It also includes continuous development of new B2B retail channels; installation, repair, maintenance and monitoring of its total base of lottery terminals; retailer training; field service; call center operations and hotline management; a fixed-odds sports betting retail network; and marketing support to further enhance LOTENAL's overall product and game portfolio.
International Game subsidiary signs four-year extension with Kentucky Lottery » 06:5402/0102/01/21
International Game announced that its subsidiary, IGT Global Solutions, has signed a four-year contract extension with the Kentucky Lottery Corporation to continue providing its iLottery platform and mobile app, and add engaging new IGT PlayLottery content to the Lottery's existing digital games portfolio. IGT PlayDigital will install its PlayRGS digital game delivery technology allowing the Lottery to expand its portfolio of Instant Play games with new game features and promotional capabilities. IGT will also add the Lottery's daily Pick 3 and Pick 4 draw games to Kentucky's iLottery lineup, as well as IGT's patented Cash Pop game. Cash Pop is IGT's exclusive draw-based game that gives players the ability to strategize their wager and create their own personalized experience every time they play. In addition to new games and the digital platform, IGT will provide performance analytics to recommend and identify specific opportunities for iLottery growth. IGT will also provide continued system, software and marketing support for the iLottery program. The latest amendment extends IGT's contract for another four years through July 2026. In addition to iLottery, IGT provides the traditional draw-based lottery system and retail lottery products, as well as operations, hotline, field services and marketing support.
International Game platform powers FanDuel Sportsbook mobile app » 16:3601/2601/26/21
International Game Technology announced that its PlaySports platform is powering the recently launched FanDuel Sportsbook mobile app in Michigan, the latest U.S. state to introduce regulated online sports betting and iGaming. In addition, proven IGT PlayDigital PlayCasino games such as Fortune Coin, Cleopatra, Game King and IGT Blackjack can now be enjoyed by online players throughout Michigan via FanDuel Casino. These deployments complement the state-of-the-art FanDuel Sportsbook at MotorCity Casino in Detroit that opened in March 2020.