International Game Tech.IGT

Morningstar Rating

Stock Research and Analysis

by Bradley Meeks

International Game Technology took its eye off the ball and lost market share to competitors. However, we believe the firm will regain some of the ground it lost to rivals. The firm's new management team is breathing life into the company vis-a-vis Read more

Bulls Say

Legislative actions and the passage of voter referendums are providing new and expanding domestic opportunities in Florida, Illinois, Ohio, and Kansas.

Continued gaming growth in Macau, the surrounding region (such as Singapore, Vietnam, and Taiwan), and Latin America should help IGT's international growth prospects.

IGT has an expansive collection of strong-performing games and a wealth of patents that constitute an extensive intellectual property portfolio.

Changes in technology typically spur growth in replacement cycles. Server-based technology should be the catalyst for future growth. Read more

Bears Say

IGT's ability to operate in existing markets or expand into new markets could be adversely affected by changing regulations or problems with obtaining needed licenses.

Slow growth in the number of new casinos or the replacement rate of existing gaming machines could limit or reduce profits.

Demand for products could be adversely affected by the whims of players and casino operators.

Failure to protect valuable intellectual property or create innovative new products could affect profitability. Read more

Strategy

In the near term, IGT is reducing debt levels, preparing for a rebound in slot demand, and right-sizing its cost structure to enhance operating leverage. Furthermore, the company is looking to capitalize Read more

Management

Former IGT director Patti S. Hart took the reins as CEO in 2009 after former long-standing CEO Thomas Matthews resigned. Matthews has been with IGT since 2001 and continues to serve on the board. The announcement of a change in leadership happened rather Read more

Profile

International Game Technology designs and manufactures computerized gaming equipment, network systems, and licensing and services for the casino gaming industry. IGT derives Read more

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