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International Game Technology PLC (IGT)

NYSE - NYSE Delayed Price. Currency in USD
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21.99+0.38 (+1.76%)
At close: 04:00PM EDT
21.71 -0.28 (-1.27%)
After hours: 06:29PM EDT
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  • A
    Anonymous
    $3.4 Billion market cap for IGT is a steal.
  • a
    albert
    I have 25oo hundreds sheds igt
  • A
    Aram
    What happened today! Market was up big and this was down!
  • a
    albert
    Ivy he’s good buy now
  • t
    tom
    solid buy don't miss the boat. thirtys on the way.
  • A
    Anonymous
    Coronavirus Lockdown Leads to Gaming Boom: 5 Stocks to Watch
    Zacks Equity Research
    Zacks
    March 27, 2020, 8:04 am

    iGaming systems and digital platforms provider International Game Technology PLC IGT, also makes it up to our list. The company is sure to benefit with its range of poker, bingo, and online casino table and slot games with rapid legalization of online gambling.
  • A
    Anonymous
    Brazil instant lottery will be lucrative for IGT and Scientific Games
    Brazil’s gambling industry looks ready to take off. Nearly a year after the South American country passed its lottery and sports betting law, International Game Technology (IGT) and Scientific Games (SGMT) have been selected as their instant lottery partners, and analysts are very optimistic about their potential profits.

    brazil-instant-lottery-will-be-lucrative-for-igt-and-scientific-games-minTo win the contract, IGT and SGMS agreed to go 50/50 on a total concession payment of R$818 million ($202 million). They’ll be making payments in installments for the privilege, with the first measured at R$97 million ($24 million), with seven additional yearly payments of R$103 million ($25 million).

    Union Gaming analysts have estimated a $25 million startup cost for the two companies. The details of the contract provide that lottery tickets should pay out 65% of sales to winnings, 16.7% to the government and the remaining 18.3% going to the two companies.

    As this is the first instant lottery offering in Brazil, the commission is higher than other markets, and the term longer. A typical term is 5-9 years, whereas IGT and SGMS will get 15. That should help them build up a business in a virgin market. Anlaysts crunching the numbers suggested this will give “IGT/SGMS plenty of time to recoup its investment and make what we estimate could be a very attractive return (~45% IRR).”

    While shares of both IGT and SGMS were up on the news, Union Gaming analysts think traders might be underestimating how lucrative this deal could be. They estimate that by the fifth year of operations, the market could be worth $2.3 billion, based on the $4 billion in national lottery sales the country has. They shared their math on potential sales:

    “IGT/SGMS will receive 18.3% of sales which yields $423m of net revenue. We assume a 25% EBITDA margin which means ~$106m of EBITDA to the JV and $53m each for IGT/SGMS. Using a 7x multiple and a 15% discount rate, we estimate the contract is worth ~$1 per share of present value for IGT and ~$2 for SGMS.

    “Given the relatively low capex (and phased installments), coupled with the sheer size of Brazil, we believe lotex could be one of the more lucrative lottery contracts in both IGT/SGMS portfolios.”
  • A
    Anonymous
    Star Man, get your facts straight.

    Net debt of $7.07 billion compared to $7.32 billion at December 31, 2020; Net debt to LTM Adjusted EBITDA of 5.40x, down from 6.39x at December 31, 2020.

    Since our last earnings call, there have been two additional improvements. First, in late March, we successfully refinance approximately 1 billion notes due in 2022 with a combination of new notes and bank debt and extended maturity date to 2026. Second, the 630-plus-million euro in net proceeds from the sale of the Italy gaming business will contribute to the full redemption of our euro-denominated 2023 note through the exercise of the make-whole call. As you can see, these two changes meaningfully reduce our net near-term debt maturities and will allow us to save, going forward, about 60 million in annual interest cost with the full run rate of savings starting to materialize in Q3 this year.
  • C
    C
    - Revenue of $1.15 billion, up 3% at constant currency on significant growth in global gaming product sales
    Bullish
  • A
    Anonymous
    $70 price for IGT mentioned by Credit Suisse anslyst:

    Credit Suisse analyst Benjamin Chaiken dubbed International Game Technology (IGT) a “golden ticket” today in an investor note.

    Chaiken, who placed an “outperform” rating on IGT stock, said that such bullishness was in line with improved Wall Street sentiment toward the company. He added that Scientific’s lottery business trades at 14 to 15 times cash flow, while IGT’s is only seven times 2022 cash flow. “Applying a mid-teens multiple on IGT would yield a >$70 stock, vs. $21/share today,” he wrote.

    https://www.cdcgamingreports.com/igt-gets-rave-review-in-investor-note/
  • A
    Aram
    I don’t understand this stock movement numbers from earnings were ok considering the pandemic. In addition with the news with Fan Duel. We should be trading in the 11’s.
  • M
    Michael
    I would think equity income funds would be jumping on board this stock at the current price. Almost a 4% dividend. A stable and very profitable business. Cash flow (EBITDA) this year estimated to be $1.7B easily covers interest expenses of $450M. They have high debt, but that is normal in the gaming industry. Plus a possible growing sports betting business.
  • O
    OnstAbe
    Gaming and gambling has been on an upward trend over the last 3 years, yet IGT's revenues have decreased incrementally over that time period? Competition? Aging product mix? Lethargic sales force? Thoughts?
    Neutral
  • M
    Mo
    This stock will bounce back strong in no time!
  • B
    Billy bob
    Can the dividend still be supported when they are losing a boatload of cash each quarter?

    Also, better known competitors are ramping up.
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