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Stock Market & Financial Investment News

News Breaks
March 26, 2014
10:49 EDTIGTInternational Game tumbles to fresh 52-week low, bear pattern
The shares are down over 9.3% to $13.45 at time of writing following yesterday's cut in outlook for its FY14 and Q2. It is possible that there is more downside to come for the shares given a bearish flag pattern that is best scene on a multi-year chart. The flag broke today when shares gapped lower. Based on the preceding down move before the flag, downside potential is to the $12 area over time. It would take a sustained move back above the flag low at $14 for the pattern to be called into question. Resistance is at $14.
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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