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4-Traders Homepage  >  Equities  >  Nyse  >  International Game Technology PLC    IGT   GB00BVG7F061

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IGT : Awarded Seven-Year Contract With The West Virginia Lottery To Provide Lottery System, Terminals, Communications Network, And Ongoing Services

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06/22/2017 | 12:46pm CEST

LONDON, June 22, 2017 /PRNewswire/ -- International Game Technology PLC (NYSE: IGT) announced that its subsidiary, IGT Global Solutions Corporation (with International Game Technology PLC, hereinafter "IGT" or "the Company"), has been awarded a seven-year base contract to provide the West Virginia Lottery with a wide array of products including a new draw-based central system, new lottery terminals, a redundant, multi-technology communications network, and ongoing services. The contract, which is expected to commence on June 28, 2018, allows for three one-year renewal options and is the result of a competitive procurement. Additionally, IGT recently signed a four-year contract with the West Virginia Lottery to provide 100 percent of the Lottery's instant ticket printing business, also following a competitive cost bidding process. The West Virginia Lottery has been a valued lottery partner to IGT since 2009.

"We are excited to customize our global customer experience and retailer and player insights into a fully integrated service approach for the West Virginia Lottery," said Jay Gendron, IGT Senior Vice President, WLA North America Lottery. "We have designed our products and services to assist the Lottery in achieving its sales and will work to improve growth and sustain profitability. We appreciate the Lottery's continued confidence in IGT, and are proud to be a partner in the commitment of our customer to maximize returns for their good causes including West Virginia seniors, education, and tourism."

Under the terms of the lottery system contract, the West Virginia Lottery will receive several components of IGT's Aurora(TM) platform including Aurora Navigator back-office applications for Lottery personnel that will help them better manage their business and enhance productivity. The Lottery will also receive IGT's Aurora Performance Intel solution, a comprehensive business intelligence and analytics tool that provides actionable insights. IGT's Aurora Retailer Wizard solution offers a secure website for West Virginia Lottery retailers to more effectively manage their businesses, interact with the Lottery, and drive results. Aurora OnePlace provides Lottery field sales personnel more effective tools for sales and inventory management at retail locations.

The West Virginia Lottery will also receive IGT's full function Altura(TM) Flex draw-based lottery terminal offering a smaller footprint to optimize retail space, while continuing to offer a highly configurable platform derived from the Altura GT1200. A new reader for play slips is designed to reduce maintenance cycles and improve throughput. A high-resolution wide-screen retailer display will enhance the ease of use and productivity of retailers.

IGT's Aurora(TM) MultiMedia in-store signage allows for the transmission and management of West Virginia Lottery information, advertisements, and promotions directly to players at the point-of-sale. The Lottery will also receive an enhanced communications solution for over half of its retailer network with IGT's patented Dual Comm Inside, an innovative pairing of next-generation VSAT technology with 4G cellular, to offer the highest network availability in the lottery industry.

IGT will maintain its primary and backup data centers in West Virginia, providing services to the West Virginia Lottery including installation and maintenance of the new system platform, terminals, and communications network; retailer training; field services; telemarketing sales and services; and instant ticket warehousing and distribution.

About IGT
IGT (NYSE: IGT) is the global leader in gaming. We enable players to experience their favorite games across all channels and regulated segments, from Gaming Machines and Lotteries to Interactive and Social Gaming. Leveraging a wealth of premium content, substantial investment in innovation, in-depth customer intelligence, operational expertise and leading-edge technology, our gaming solutions anticipate the demands of consumers wherever they decide to play. We have a well-established local presence and relationships with governments and regulators in more than 100 countries around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has over 12,000 employees. For more information, please visit www.IGT.com.

Cautionary Statement Regarding Forward-Looking Statements
This news release may contain forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning International Game Technology 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, based on current beliefs of the management of the Company as well as assumptions made by, and information currently available to, such management. Forward-looking statements may be accompanied by words such 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 other variations of them. These forward-looking statements speak only as of the date on which such statements are made and are subject to various risks and uncertainties, many of which are outside the Company's control. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may differ materially from those predicted in the forward-looking statements and from past results, performance, or achievements. Therefore, you should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include (but are not limited to) the factors and risks described in the Company's annual report on Form 20-F for the financial year ended December 31, 2016 and other documents filed from time to time with the SEC, which are available on the SEC's website at www.sec.gov and on the investor relations section of the Company's website at www.IGT.com. Except as required under applicable law, the Company does not assume any obligation to update these forward-looking statements. You should carefully consider these factors and other risks and uncertainties that affect the Company's business. Nothing in this news release is intended, or is to be construed, as a profit forecast or to be interpreted to mean that earnings per share of International Game Technology PLC for the current or any future financial years will necessarily match or exceed the historical published earnings per share of International Game Technology PLC, as applicable. All forward-looking statements contained in this news release are qualified in their entirety by this cautionary statement. All subsequent written or oral forward-looking statements attributable to International Game Technology PLC, or persons acting on its behalf, are expressly qualified in its entirety by this cautionary statement.

Contact:
Robert K. Vincent, Corporate Communications, toll free in U.S./Canada (844) IGT-7452; outside U.S./Canada (401) 392-7452
James Hurley, Investor Relations, (401) 392-7190
Simone Cantagallo, (+39) 06 51899030; for Italian media inquiries

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/igt-awarded-seven-year-contract-with-the-west-virginia-lottery-to-provide-lottery-system-terminals-communications-network-and-ongoing-services-300477710.html

SOURCE IGT

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Financials ($)
Sales 2017 4 812 M
EBIT 2017 887 M
Net income 2017 29,0 M
Debt 2017 7 314 M
Yield 2017 4,30%
P/E ratio 2017 -
P/E ratio 2018 55,99
EV / Sales 2017 2,30x
EV / Sales 2018 2,19x
Capitalization 3 760 M
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 24,1 $
Spread / Average Target 30%
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Marco Sala Chief Executive Officer & Executive Director
Philip Glen Satre Chairman
Alberto Fornaro Chief Financial Officer & Executive Vice President
Alberto Dessy Independent Non-Executive Director
James Francis McCann Non-Executive Director
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