IGT anticipates 4th-quarter charges of $77 million
International Game Technology expects 4th-quarter charges of approximately $77 million
- On 8:10 am EDT, Wednesday October 14, 2009
RENO, Nev. (AP) -- Slot machine and casino management systems maker International Game Technology said Wednesday that it expects fourth-quarter charges of about $77 million.
The charges of approximately 26 cents per share include a $78 million noncash charge related to the lower carrying value of its investment in Walker Digital Gaming Inc. IGT reworked its relationship with Walker in August.
The company also anticipates a charge of about $13 million related to a decline in the value of its Las Vegas Gaming International investment. Additional tax provisions of $15 million will also be accounted for.
IGT said it doesn't expect the charges to affect its ability to comply with debt requirements.
The company is scheduled to report fourth-quarter results on Nov. 5.
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