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Stock Market & Financial Investment News

News Breaks
February 25, 2013
06:07 EDTIGTInternational Game urges shareholders to vote for director nominees
International Game Technology issued the following letter to shareholders: "Your Board of Directors unanimously believes that the reelection of IGT's eight highly qualified and experienced incumbent directors is in the best interests of shareholders. Whereas the Ader / Mathewson Group has offered no specific plan for IGT and does not recognize the significant growth opportunities available to IGT in online, social and mobile gaming, your IGT Board is overseeing a successful growth strategy that is positioning IGT for long-term success and significant shareholder value creation. Three of your independent directors have been targeted for replacement by the Ader / Mathewson Group at IGT's upcoming Annual Meeting, specifically Paget Alves, David Roberson and Vincent Sadusky, and you cannot use the gold card to vote for them. Your Board unanimously believes that these three incumbent directors are better qualified to serve the interests of shareholders than Daniel Silvers, the only Ader / Mathewson Group nominee recommended by Institutional Shareholder Services and Glass Lewis. The Board believes the loss of ANY incumbent director in favor of Mr. Silvers would represent a significant loss for shareholders."
News For IGT From The Last 14 Days
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April 27, 2015
19:00 EDTIGTScientific Games says receives license termination notice from IGT
In a regulatory filing, Scientific Games (SGMS) reports that on April 21, it received notification from International Game Technology (IGT) purporting to terminate the license agreement between the two companies as a result of Scientific Games' alleged breach of licensing terms. The company notes that on June 13, 2014, it entered into a license agreement with IGT for its “ticket-in-ticket-out” cashless gaming technology. Prior to its acquisition by Scientific Games, Bally Technologies had also entered into a license agreement with IGT for the same technology. IGT believes that Scientific Games is in breach of its license agreement due to its use of license tags belonging to Bally instead of license tags issued to Scientific Games itself.
April 15, 2015
17:07 EDTIGTInternational Game subsidiary awarded $75M-$80M Minnesota Lottery contract
International Game subsidiary GTECH Corporation has entered into a contract with the Minnesota State Lottery to provide new lottery technology, an IP-communications network, multimedia displays, self-service products, and ongoing support services, following a competitive procurement. The 7.5 year integrated services contract with the Lottery contains three renewal options of one year each, or up to one renewal of three years, or any variation thereof. The company expects to receive approximately $75M-$80M in revenues over the base 7.5 year contract period, which runs through August 9, 2023.

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