AlanMendelson
AlanMendelson
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July 15th, 2014 at 9:18:01 PM permalink
http://forum.alanbestbuys.com/showthread.php?2962-IGT-merges-with-GTECH Announced Wednesday morning, just after midnight, New York time
Ahigh
Ahigh
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July 15th, 2014 at 9:36:46 PM permalink
Congratulations to IGT and IGT employees. Hopefully this is a positive thing for everyone involved.
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Pokeraddict
Pokeraddict
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July 16th, 2014 at 6:59:41 PM permalink
The company taking over IGT is blacklisted at WOO.

https://wizardofodds.com/online-gambling/blacklist/

Spielo/G2 is a subsidiary of GTECH. The company changed names after the situation referred to in the blacklisting. It was previously known as Lottomatica.
Boz
Boz
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July 16th, 2014 at 7:17:03 PM permalink
Quote: Pokeraddict

The company taking over IGT is blacklisted at WOO.

https://wizardofodds.com/online-gambling/blacklist/

Spielo/G2 is a subsidiary of GTECH. The company changed names after the situation referred to in the blacklisting. It was previously known as Lottomatica.



WOW what does the Wizard have to say about this?
tringlomane
tringlomane
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July 16th, 2014 at 7:56:13 PM permalink
Quote: Boz

WOW what does the Wizard have to say about this?



Very interesting indeed... :-\
AlanMendelson
AlanMendelson
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July 16th, 2014 at 8:56:54 PM permalink
This is what I was afraid of: what would happen to the IGT stsndards?
Ahigh
Ahigh
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July 16th, 2014 at 9:51:20 PM permalink
Here's some bullets: (standard disclaimers apply)

  • IGT's YOY operational revenue (eg: megajackpots) fell 44% *1
  • IGT's market cap almost fell below BYI's recently before they announced they were trying to find a buyer - *3
  • The combined market cap of the big three (IGT, BYI, MGAM) is pretty small compared to the market caps of the big casinos in Vegas (WYNN, LVS, MGM) - *3
  • The number of slot machines on the Las Vegas strip has been steadily DECLINING in recent years from a peak of 60,000 units 3rd quarter 1999 to only 44,000 units today averaging a -1% to -5% reduction in numbers each year since then. - *2
  • The slot "replacement cycle" has been in an ebb trend lately. Slot revenue and/or sales numbers are down - *2
  • MGAM (875M mkt cap) is the #3 player replacing WMS (bought by SGMS (793M mkt cap)). - *3
  • SHFL was recently acquired by BYI as table game revenue has been increasing, this could have been a savvy move by the #2 player - *4


As a former IGT employee, I must disclose that this is all public information and none of this information is the result of any insider knowledge.

Sources:


*1 http://www.igt.com/company-information/investor-relations/earnings-events.aspx?ReleaseID=1920821&PostBack=False

*2 http://leg.state.nv.us/interim/77th2013/Committee/NonLeg/EcForum/Other/3-June-2014/3_Gaming_Market_Statistics_Las_Vegas_Strip_Quarterly.pdf

*3 http://www.tdameritrade.com

*4 http://investor.ballytech.com/releasedetail.cfm?ReleaseID=809358
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AlanMendelson
AlanMendelson
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July 17th, 2014 at 1:26:12 AM permalink
As IGT has admitted publicly for the last several years, it's problem has been a lack of new, captivating games for the market. I don't know if this new merger is going to change that or help the development of new games.

Curiously while (Ahigh says) the number of slot machines has been declining on the Vegas Strip, here in California the number of slots at most of the Indian casinos has at least doubled. Many of the larger Indian casinos now have 2,400 or more slot machines, dwarfing anything at any casino in Vegas. Morongo recently increased to 2,800 slot machines. Pechanga has more than 3,000 slot machines. And the California casinos are adding more machines because the caps called for in the State regs were struck down in court.
AxiomOfChoice
AxiomOfChoice
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July 17th, 2014 at 10:52:08 AM permalink
Quote: AlanMendelson

As IGT has admitted publicly for the last several years, it's problem has been a lack of new, captivating games for the market. I don't know if this new merger is going to change that or help the development of new games.

Curiously while (Ahigh says) the number of slot machines has been declining on the Vegas Strip, here in California the number of slots at most of the Indian casinos has at least doubled. Many of the larger Indian casinos now have 2,400 or more slot machines, dwarfing anything at any casino in Vegas. Morongo recently increased to 2,800 slot machines. Pechanga has more than 3,000 slot machines. And the California casinos are adding more machines because the caps called for in the State regs were struck down in court.



My personal experience is that low-limit gamblers prefer slots, but almost all high-limit action is at table games. It is not uncommon for the high-limit room of a major casino to be packed on a busy weekend, but you rarely see a high-limit slot room more than 1/2 full. It's all traditional table games too -- baccarat, blackjack, craps and roulette.
smoothgrh
smoothgrh
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November 9th, 2021 at 3:58:05 PM permalink
I was in my local California CVS pharmacy today and was surprised to see two guys wearing IGT logo jackets. They were there to install a new California Lottery scratchers machine. Looks as if they're based in Fremont, Calif.

I'm guessing this is part of their expansion beyond casinos.

I figured they didn't want to chat about home use Game King machines.
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