IGT to “Raise Your Game” at the Australasian Gaming Expo
Casino game developer and provider International Game Technology, often called simply IGT, plan on making a big deal at the Australasian Gaming Expo (AGE).
Based on the theme of “Raise Your Game”, IGT is showcasing a strong line-up of regionally attuned games, new styles of game play and exciting new features at its stand, number 590, at the International Convention Centre in Sydney.
IGT recently launched Bubble Blast Link to numerous brick and mortar casinos around Australia. It is currently available in New South Wales, Northern Territory, Queensland, South Australia, and Victoria, and is coming soon to both Tasmania and New Zealand.
Andrew Hely, the Managing Director of IGT Asia Pacific, said on the company’s website, “IGT is offering an array of engaging products designed to deliver more player entertainment and strengthen player loyalty while increasing performance at our customers’ gaming venues. For example, our recently launched Bubble Blast™ Link is performing exceptionally well on game floors. At AGE, we’re unveiling a new game for this link, Spells and Whistles™, as well as launching a standalone progressive version of the game to provide smaller venues with greater variety on the gaming floor.”
IGT Release Two Brand New Pokies
Visitors to the Australasian Game Expo will be able to see some of IGT’s highest performing pokies, including the exciting and engaging “Rising” range. These include Cleopatra Rising that is an evolution of its Waterfall play feature where each spin can affect the next. IGT is also set to launch two brand new pokies in the shape of Fortune Rising and Treasure Rising that give players the opportunity to increase their big wins in a high-denom segment.
Other titles from IGT set to have new features unveiled are Fortune Coin and Multistar Legends. Fortune Coin is immensely popular in Australian casinos thanks to its progressive feature that allows bonus prizes to be boosted.
The future of loyalty cards
Perhaps more interesting to regular players of IGT pokies is IGT’s Systems team lifting the lid on their latest project. Known as Cardless Connect, this new technology makes it possible to put the pokies’ player loyalty card on their mobile phone, making it possible to interact with their venue of choice with ease and opening the door for casinos and IGT to advertise new products to a market that is eager to test them out.
The good times are rolling at IGT with the company releasing impressive financial figures to the New York Stock Exchange (NYSE) earlier this week. Marco Sala, the Chief Operating Executive of IGT said of the second quarter of 2019 figures, “We had a strong second quarter, with top-line growth driven by a sharp increase in gaming product sales and impressive gains in global lottery same-store revenues. Profits were up nicely in our North America Gaming and Italy segments. I am pleased with the broad-based improvement in key performance indicators for our main business.”
Some of the highlights from the Q2 figures included a five-percent increase in revenue and an operating income of $224 million, adjusted to $274 million, an increase of six-percent at constant currency.
Shareholder unimpressed with seemingly great figures
IGT’s adjusted EBITDA, a key industry figure used to show how stable and profitable a company is, was up five percent at constant currency to $454 million, while year-to-date operating cash flow is up to $592 million with free cash flow currently at $361 million, which is a new company record for first-half of the year figures.
Investors in IGT will now receive a cash dividend of $0.20 per ordinary share. Despite the positivity surrounding the financial news, the share price of IGT fell from $13.20 per share to $11.37 per share yesterday, which is very close to the 52-week low of $11.32 and a world away from the year high of $21.94. Shareholders can be funny beasts!