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Profile: International Game Technology PLC (IGT.N)

IGT.N on New York Stock Exchange

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26 Jul 2016
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International Game Technology PLC (IGT PLC), incorporated on July 11, 2014, is an end-to-end gaming company. The Company is engaged in operating and providing an integrated portfolio of technology products and services across various gaming markets, including lottery management services, online and instants lotteries, electronic gaming machines, sports betting, interactive gaming and commercial services. Its segments are North America Gaming and Interactive (NAGI), North America Lottery, International and Italy. IGT PLC provides business-to-consumer (B2C) and business-to-business (B2B) products and services to customers in approximately 100 countries. IGT PLC also licenses certain trademarks from third parties, such as Wheel of Fortune, Jeopardy!, Life is Good, Circuit of the Americas, Ghostbusters, Gas Monkey Garage, The Three Stooges, Plants v. Zombies, Bejeweled, Zuma Caesars, Harrah's, Rio, Paris Las Vegas and Horseshoe. Its lottery services are provided through concession or operator contracts (also referred to as lottery management services arrangements), facilities management contracts and product sales contracts. IGT PLC supplies a range of solutions for online, draw-based, and instant ticket lotteries to over 100 customers across the world. IGT PLC designs, sells and operates a suite of lottery-enabled point-of-sale terminals that are electronically linked with a centralized transaction processing system that reconciles lottery funds between the retailer, where a transaction is enabled, and the lottery authority. Among those solutions, IGT PLC provides and operates online lottery transaction processing systems, which are capable of processing over 500,000 transactions per minute. IGT PLC provides over 500,000 point-of-sale devices to lottery customers and lotteries that IGT PLC supports across the world.

IGT PLC designs, develops, manufactures and provides cabinets, games, systems and software for customers in legal gaming markets throughout the world under fixed fee, participation and product sales contracts. IGT PLC holds over 400 global gaming licenses, including from the Nevada Gaming Commission. IGT PLC offers a range of machine cabinets, which land-based customers can choose. In addition to cabinets, IGT PLC develops a range of Casino games taking into account local jurisdictional requirements, market dynamics and player preferences. IGT PLC casino games typically fall into approximately two categories, including Core games, which include core video reel, core mechanical reel and core video poker, which are typically sold and in some situations leased to customers, and Premium games, such as Wide Area Progressives, which are games that are linked across several casinos and/or jurisdictions and share common jackpot, and Multi-Level Progressives, which are linked to a number of other games within the casino itself and offer players the opportunity to win different levels of jackpots. IGT PLC also produces other types of games, including Centrally Determined games, which are games connected to a central server that determines the game outcome and Class 2 games, which are electronic video bingo machines, which can be found in North American Tribal Casinos and certain other jurisdictions, such as South Africa. IGT PLC provides video lottery terminals (VLT), VLT central systems and VLT games to government customers across the world, and provides VLT and games to operators across the world. IGT PLC combines elements of math, play mechanics, sound, art and technological advancements with a library of entertainment licenses and an intellectual property portfolio to provide its gaming products. IGT PLC offers a range of system modules and applications for all areas of casino management. Its primary Casino Management System (CMS) offering is the Advantage System. IGT PLC provides betting technology to lotteries and commercial operators in regulated markets, primarily in Italy and other countries in Europe.

IGT PLC designs, manufactures, and distributes a suite of customizable products, systems and services for Internet gaming, including Internet poker, table games, slots, bingo, iLottery and Gaming Management Systems (GMSs). IGT PLC's online casino products include a range of table and slot games with single, multiplayer and tournament play. IGT PLC's bingo solution includes a social and interactive Bingo Live offering, available in over four countries and in approximately four languages, with the content adjusted to suit specific regions. IGT PLC's suite of iLottery solutions, services and professional know-how allows lotteries to engage their players on any interactive channel in regulated markets. IGT PLC's iGaming systems cover every channel (retail, mobile and Web) and vertical from a 360-degree view of the player, Web design and an engine to accelerate game content to customers' Websites. IGT PLC also offers a Remote Games Server. IGT PLC offers a range of services to support interactive customers. IGT PLC Marketing Intelligence Services manages the player lifecycle to maximize player yield while ensuring the player is entertained and plays responsibly. Additionally, IGT PLC provides player services, including marketing, portal, player acquisition, Customer Relationship Management (CRM), player support, payment solutions, fraud and collusion protection, responsible gaming, game management, migration and trading services.

North America Gaming and Interactive

The NAGI segment develops and delivers games, systems and solutions for land-based casinos, Interactive for-wager online play, and the DoubleDown Casino free-to-play social casino application. The segment is responsible for research and development (R&D) for commercial gaming products that are distributed to casinos throughout the world. NAGI provides a suite of casino-related products and solutions to its commercial, government and tribal customers in the United States and Canada. For land-based casino customers, NAGI provides Company leadership in the development and distribution of Global Premium Product, including licensed content, such as Wheel of Fortune slots. In addition, the Global Core Product organization within NAGI develops slot themes and video poker themes, such as Game King. The NAGI segment includes revenue from the sale or lease of commercial gaming machines and software to casinos and government entities in the United States and Canada. NAGI also develops, sells and licenses Casino Management Systems. These systems help casino customers to manage operational efficiencies and player engagement by delivering personalized player amenities and promotional offers. Additionally, service revenue is generated for commercial gaming from the maintenance of machines and systems. NAGI also generates revenue from its DoubleDown Casino social casino application, where customers purchase virtual currency for use in non-wagering interactive games (play for fun) played over the Internet, including desktop and mobile devices. Its cross-platform content delivery system, IGT Casino remote game server, enables iGaming operators of for-wager online Interactive properties to access the Company's content library to provide players with their favorite casino content on desktop and mobile devices. Its Global Operations organization, including Global Manufacturing Operations, is based in Reno, Nevada, and is the primary manufacturer of all NAGI products in addition to various other products for other IGT business segments, such as Lottery.

North America Lottery

The North America Lottery segment develops and delivers Lottery solutions. This business segment provides North America World Lottery Association (WLA) customers with a single point of contact, leveraging IGT PLC's lottery product suite. IGT PLC supports over 40 of the 45 United States lotteries. North America Lottery performs R&D for all Lottery-related products across the world. North America Lottery includes revenue related to the sale or lease of lottery central system hardware and software, and the sale or lease of lottery and gaming terminals to government entities. IGT PLC also has lottery management agreements in approximately three United States jurisdictions, including Illinois, Indiana and New Jersey.

The North America Lottery segment includes revenue generated from the sale of physical instant tickets to government entities. Government-sponsored lotteries grant printing contracts on both an exclusive and non-exclusive basis where there is typically a primary vendor and one or more secondary vendors. A primary contract permits the vendor to supply the majority of the lottery's ticket printing needs and includes the production process from concept development through production and shipment. It also typically includes marketing and research support. A primary printing contract can also include various services, such as warehousing, distribution, telemarketing and sales/field support. A secondary printing contract includes providing backup printing services and alternate product sources. It may or may not include a guarantee of a minimum or maximum number of games.

International

The International segment is engaged in delivering end-to-end solutions across all channels and regulated gaming segments. This segment is responsible for the strategic development and operation management for all markets in Europe, the Middle East, Central and Latin America (including Mexico), the Caribbean, Asia Pacific, and Oceania, across IGT PLC's entire product portfolio. Its global strategy capitalizes on its North America experience, while customizing products for foreign languages, local preferences and regulatory requirements.

The International segment includes revenue from the sale or lease of commercial gaming machines and software to casinos and government entities, and from the sale or hosting or real-money interactive wagering games played over the Internet. This segment also includes revenue from the sale or lease of lottery central system hardware and software, and the sale or lease of lottery terminals to government entities. Additionally, the segment includes revenue from the sale of physical instant tickets to government entities, and professional services in the form of lottery facility management and lottery operation fees. Legalized online real-money gaming in certain regulated international markets also continues to make a contribution. IGT PLC offers various interactive gaming products within the International segment, including poker, casino, bingo and mobile systems.

Italy

The Italy segment derives revenue from Lottery and Machine Gaming concessions. The Italy segment operates and provides a range of B2C gaming products, including over five product lines, such as Lottery, which includes the operation of instant and traditional lotteries; Machine Gaming, which operates in the machine gaming concession in Italy; Sports Betting, which includes sports events and non-sports events connected with current affairs; Commercial Services, which offers transaction processing of commercial transactions, collection and payment services, money transfer services, fidelity card services and stamp duty services, and Interactive Gaming, which provides games authorized in the Italian market, including skill games, and other board and soft games.

The Company competes with 888 Holdings, bwin.party, Playtech plc, Microgaming Software Systems, Scientific Games Corporation, Amaya Gaming, Caesars, Zynga, Bet365, SNAI, Eurobet, Intralot S.A, Pollard Banknote Limited, Eagle Press of India, Tattersalls, Sisal S.p.A., Aristocrat Leisure Limited, Konami, Sazka, OPAP S.A. and Camelot.

Company Address

International Game Technology PLC

6th Fl, 11 Old Jewry
LONDON     EC2R 8DU

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