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

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International Game Technology : Tech (IGT) Wins Seven-Year Contract with AB Svenska Spel in Sweden

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01/19/2017 | 05:46pm CEST

International Game Technology PLC announced that its subsidiary, IGT Canada Solutions ULC, has signed a contract to provide Video Lottery Terminals (VLTs), a VLT Central System, site controllers, games, and operational services to AB Svenska Spel in Sweden ("Svenska Spel") as part of a competitive procurement process. IGT, as legacy GTECH, has been providing video lottery products and support services to Svenska Spel, operator of the Swedish national lottery and a World Lottery Association member, since 1996.

"Throughout the last two decades, we`ve successfully supported and enhanced Svenska Spel`s approach to protecting players while creating advanced solutions to meet their business objectives," said Walter Bugno, CEO, IGT International. "This contract will help to ensure that Svenska Spel continues to responsibly grow and remain competitive in a rapidly changing marketplace. It will help to increase player engagement, ensure the long-term sustainability of their offering, and provide a safe gaming experience for their players, which is the cornerstone of Svenska Spel`s program."

The contract, which commenced on Jan. 9, 2017, is for seven years with the possibility of one-year extensions for up to three subsequent years, for a maximum term of 10 years. Under the contract term, Svenska Spel has agreed to a minimum 6,000 Quasar VLTs, the INTELLIGEN Central System, a minimum 2,000 IGT site controllers, and more than 60 games. Operational services include continuous, 24/7 operation of the Gaming System, including VLTs, site controllers, and games from IGT`s market-leading omnichannel content portfolio.

The newest member of the IGT VLT product family, the sleek, modern Quasar VLT features large, 23-inch LCD screens supporting full HD graphics; a 10.1-inch multi-touch button panel; and ergonomically comfortable design suited for players at any height.

The latest version of the INTELLIGEN Central System incorporates a proven architectural design with the latest technology available, maximizing system performance and reliability. It is designed to support growth and remain current through the evolution of technology, and is based on commercially-proven deployments in high-transaction environments.

The solution includes robust Responsible Gaming (RG) tools that are intuitive for players and provide a transparent, realistic context for gaming through features such as tutorials, information on odds and payouts, as well as an information section that dispels gambling myths. With it, players can set both time and monetary spending limits for multiple time periods.

Svenska Spel will also receive the new, market-leading INTELLIGEN Advanced Business Intelligence value-added module, which provides data that helps quickly identify trends and provide useful insights to improve all aspects of business performance in the network.

IGT`s site controller and retailer terminal includes a modern, tablet-style touch-screen display; a small footprint that minimizes space requirements; and a sleek product design.

In addition to supplying Svenska Spel`s VLT wide area network operation, IGT, as legacy GTECH subsidiary Boss Media, began providing Svenska Spel with fully customizable poker software in 2006. Svenska Spel also uses IGT`s Casinolink system and IGT slot machines at its land-based casinos.

(c) 2017 LANA Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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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 4,45%
P/E ratio 2017 -
P/E ratio 2018 54,10
EV / Sales 2017 2,28x
EV / Sales 2018 2,16x
Capitalization 3 633 M
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 24,1 $
Spread / Average Target 34%
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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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