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IGT, or International Game Technology, is one of the most widely based gaming
software developers in the world. While they are not considered to be among the
top casino software providers, their arrangement of services makes them relevant
in many areas.
Their areas of involvement in casino gaming include retail supply, consumer
promotion, distribution and logistics, interactive gaming, individual game
software and gaming portfolio, and lottery. IGT manages about $30 billion each
year in lottery business alone.
IGT has been in the industry since 1975. It wasn’t until 1984, with their
acquisition of Electronic Data Technologies, that they made their mark in the
industry. IGT was a significant contributor in computerized gambling with the
development of player tracking software and loyal player rewards programs.
The White Orchid slot features a feminine touch with pink and white as the prominent colors. The focus on nature gives it a more relaxing feel and a retreat for players who aren't fans of the action-laden, male-friendly games by IGT such as Star Trek — Against all Odds. IGT one of the largest slot machine manufacturers just received a patent for accepting crypto into a gaming account. The recent announcement from PayPal that it would enable customers to buy and hold crypto and will enable PayPal merchants to accept crypto has convinced more companies to investigate accepting crypto as a new payment type.
In 1986, IGT introduced both Players Edge video poker machines and the Nevada
Megabucks slot machine. Megabucks was the first progressive slot machine jackpot
pool with a top jackpot of $1 million. Today this progressive jackpot starts at
a staggering $10 million.
In 1996, IGT introduced the multi-denomination Game King video poker machine,
which are literally everywhere in land-based casinos today. This was the same
year they introduced the most popular slot machine game ever; the Wheel of
Fortune progressive slot.
As you could have concluded from their history, IGT is best known for
land-based software. In recent years, they have been evolving to broaden their
online casino portfolio. Even though their online presence has been brief, they
are already well known online through strategic game placement.
When Was IGT Founded?
International Game Technology was founded in 1975, in Las Vegas, Nevada. The
company was originally known as A-1 Supply, and later as Sircoma. In 1981 they
adopted the name International Game Technology, or IGT.
Where Is IGT Based Out Of?
IGT still maintains its headquarters in Las Vegas, NV. They have several
offices throughout the US, China, India, Australia, Mexico, Chile, Colombia,
Austria, England, Italy, Poland, Serbia, and the Caribbean.
What Does IGT Software Do?
The majority of IGT slot machine games are video slot games. They currently
have over 100 games in their online casino portfolio. Their online casino
library grew rapidly with their acquisition of WagerWorks in 2005.
The primary purpose of WagerWorks, in regard to their relationship with IGT
casino software, is to put IGT’s successful land-based casino games into online
casino software programs. This collaboration has allowed IGT to quickly become a
contender in the online casino software field.
In fact, IGT is the largest provider of slot machine games with progressive
jackpots in the world.
They currently have over 75 games available online that
offer a progressive jackpot bonus. For IGT, slot machine software is their main
focus.
With that said, their table games and Live Dealer software is behind the
industry standard. IGT has made their company relevant in most casino aspects,
but they have some ground to make up in this category.
Why Is IGT Relevant?
While you will most likely know IGT from their land-based slot machine games,
some strategic movements have made them more known to online casino players as
well. One example of this would be their implementation of the Double Down
Casino app on Facebook.
Double Down Casino is a play money app that can be linked to your Facebook
account. Though there is no real money wagering, Double Down Casino does have
many of IGT’s land-based casino games in its game selection. This has caused an
increase in popularity of these particular games both online and at
brick-and-mortar casinos.
One of IGT’s biggest claims to fame is their progressive slot machine
systems. Their Nevada state-wide progressive jackpot Megabucks has handed out
many of the highest casino jackpot payouts in history!
Popular Games from IGT
There definitely isn’t a lack of popular games to talk about from IGT. Their
two most popular games are the Monopoly Progressive Jackpot slot, and their Game
King video poker machines. These two games are two of the most popular games of
all time. With that said, IGT has several incredibly popular games in addition
to those.
Texas Tea is a slot known for its low house advantage. It is a favorite among
players looking to make their money last, but still have the fun aspect of a
video slot machine game.
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IGT has designed a few games which stretch the limits on how many ways to win
can be fit into one slot machine game. Garden Party is a video slot game in
which there are 1024 ways to win.
Their licensed video slot machine game
Treasures of Pandora, based on the movie Avatar, has an incredible 7,776 ways to
win.
IGT has a big selection of licensed slot machine titles. Some of these
include Dungeons and Dragons, Star Trek, Ghostbusters, Price is Right, Wheel of
Fortune, and Transformers.
In addition to their licensed titles, some of their Double Down Casino titles
have become increasingly popular. Some of these slot machine games are Wild
Wolf, Cleopatra, Siberian Storm, and Crown of Egypt.
Though their selection is more limited in their table games department, they
do have a few varieties of most games. Blackjack, Roulette, Craps, Caribbean
Poker, Casino Hold’Em, and Baccarat are a few of their most popular.
Conclusion
IGT has built a name for themselves on a reputation of reliability and
quality. That reputation has followed them into the online casino software
industry. Their involvement in several aspects of casino gaming industries had
solidified their place among the top-ranking software providers.
With the prevalence of their Megabucks Progressive Jackpots and Game King
video poker machines, it’s hard to go into any casino without seeing IGT
products. Their slot machines have attracted a loyal fan base that has carried
over to their online casino presence.
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IGT’s history and pattern of successful
business ventures means we can expect IGT to remain a big player in the casino
software field.
LONDON and LAS VEGAS, March 1,2021 /PRNewswire/ -- International Game Technology PLC('IGT') (NYSE: IGT) and Scientific Games Corporation ('ScientificGames') (NASDAQ: SGMS), today announced that they have signed across-licensing agreement for patents related to cashless slotgaming technologies. Under the agreement, Scientific Games and IGTwill be able to offer patented cashless gaming technologies fromthe companies' combined portfolios of casino management systemssolutions to the U.S. gaming industry. Financial terms of theagreement have not been disclosed.
As a result of this agreement, operators will now be able tounlock the industry's most compelling portfolio of cashless gamingtechnologies. By combining the strongest features of each Company'scashless gaming patent portfolio, IGT and Scientific Games areproviding a solution for the gaming industry to quickly increaseadoption of cashless technology.
'This cross-licensing agreement provides casino operators accessto the gaming industry's most compelling portfolio of cashlessgaming technologies. We have made significant R&D investmentsover many years to develop this comprehensive suite of intellectualproperty in the cashless space. It makes revolutionary improvementsto the player experience and represents the greatest advancement incashless payments since the introduction of Ticket-In, Ticket-Out(TITO),' said Renato Ascoli, IGTCEO Global Gaming. 'Cashless gaming is here to stay, and thisstrong portfolio of cashless IP can help casino operators ensurethe safety of players by reducing cash handling and points ofcontact with slot games, while considerably improving casinooperating efficiencies.'
'At Scientific Games, we continue to find ways to extend thebenefits of our innovative cashless technology. This new programallows SG and IGT to combine our leading IP for the benefit of ourcustomers, and our industry,' said MattWilson, CEO, Gaming Business Unit Scientific Games.'Consumers are increasingly comfortable using cashless technology,and they will continue to expect this option to be available on thefloor. We're excited to partner with IGT to make it easier foroperators to deliver for their players.'
Through the agreement, each company will have immediate accessto the other party's cashless gaming patents.
About IGT
IGT (NYSE:IGT) is the global leader ingaming. We deliver entertaining and responsible gaming experiencesfor players across all channels and regulated segments, from GamingMachines and Lotteries to Sports Betting and Digital. Leveraging awealth of compelling content, substantial investment in innovation,player insights, operational expertise, and leading-edgetechnology, our solutions deliver unrivalled gaming experiencesthat engage players and drive growth. We have a well-establishedlocal presence and relationships with governments and regulators inmore than 100 countries around the world, and create value byadhering to the highest standards of service, integrity, andresponsibility. IGT has approximately 11,000 employees. For moreinformation, please visit www.IGT.com.
About Scientific Games
Scientific Games Corporation(NASDAQ: SGMS) is a world leader in entertainment offering dynamicgames, systems and services for casino, lottery, social gaming,online gaming and sports betting. Scientific Games offers thegaming industry's broadest and most integrated portfolio of gamecontent, advanced systems, cutting-edge platforms and professionalservices. Committed to responsible gaming, Scientific Gamesdelivers what customers and players value most: trusted security,engaging entertainment content, operating efficiencies andinnovative technology. For more information, please visitscientificgames.com.
Cautionary Statement Regarding Forward-LookingStatements
IGT
This news release may contain forward-lookingstatements (including within the meaning of the Private SecuritiesLitigation Reform Act of 1995) concerning International GameTechnology PLC and its consolidated subsidiaries (the 'Company')and other matters. These statements may discuss goals, intentions,and expectations as to future plans, trends, events, dividends,results of operations, or financial condition, or otherwise, basedon current beliefs of the management of the Company as well asassumptions made by, and information currently available to, suchmanagement. Forward-looking statements may be accompanied by wordssuch as 'aim,' 'anticipate,' 'believe,' 'plan,' 'could,' 'would,'should,' 'shall', 'continue,' 'estimate,' 'expect,' 'forecast,'future,' 'guidance,' 'intend,' 'may,' 'will,' 'possible,'potential,' 'predict,' 'project' or the negative or othervariations of them. These forward-looking statements speak only asof the date on which such statements are made and are subject tovarious risks and uncertainties, many of which are outside theCompany's control. Should one or more of these risks oruncertainties materialize, or should any of the underlyingassumptions prove incorrect, actual results may differ materiallyfrom those predicted in the forward-looking statements and frompast results, performance, or achievements. Therefore, you shouldnot place undue reliance on such statements. Factors that couldcause actual results to differ materially from those in theforward-looking statements include (but are not limited to) thefactors and risks described in the Company's annual report on Form20-F for the financial year ended December 31, 2019 and otherdocuments filed from time to time with the SEC, which are availableon the SEC's website at www.sec.gov and on the investor relationssection of the Company's website at www.IGT.com. Except as requiredunder applicable law, the Company does not assume any obligation toupdate these forward-looking statements. You should carefullyconsider these factors and other risks and uncertainties thataffect the Company's business. All forward-looking statementscontained in this news release are qualified in their entirety bythis cautionary statement. All subsequent written or oralforward-looking statements attributable to International GameTechnology PLC, or persons acting on its behalf, are expresslyqualified in their entirety by this cautionary statement.
Scientific Games
In this press release, ScientificGames makes 'forward-looking statements' within the meaning of theU.S. Private Securities Litigation Reform Act of 1995.Forward-looking statements can be identified by words such as'will,' 'may,' and 'should.' These statements are based uponmanagement's current expectations, assumptions and estimates andare not guarantees of timing, future results or performance.Therefore, you should not rely on any of these forward-lookingstatements as predictions of future events. Actual results maydiffer materially from those contemplated in these statements dueto a variety of risks, uncertainties and other factors, includingthose factors described in Scientific Games' filings with the SEC,including Scientific Games' current reports on Form 8-K, quarterlyreports on Form 10-Q and its latest annual report on Form 10-Kfiled with the SEC on February 18,2020 (including under the headings 'Forward-LookingStatements' and 'Risk Factors'). Forward-looking statements speakonly as of the date they are made and, except for Scientific Games'ongoing obligations under the U.S. federal securities laws,Scientific Games undertakes no obligation to publicly update anyforward-looking statements whether as a result of new information,future events or otherwise.
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IGT Media and Investor Contacts:
Phil O'Shaughnessy, Global Communications, tollfree in U.S./Canada +1 (844)IGT-7452; outside U.S./Canada +1(401) 392-7452
Francesco Luti, +39 3485475493; forItalian media inquiries
James Hurley, Investor Relations, +1(401) 392-7190
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Scientific Games Media and Investor Contacts:
MediaInquiries, media@scientificgames.com
Investor Inquiries, ir@scientificgames.com
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SOURCE Scientific Games Corporation