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On Monday, International Game Technology PLC (NYSE:IGT) announced preliminary financial outcomes for its Gaming & Digital business for the quarter ending March 31, 2025. This segment was previously classified as discontinued operations since July 26, 2024. The disclosure aligns with information that will be shared by Voyager Parent, LLC, a company associated with funds managed by Apollo Global Management (NYSE:APO), Inc., for a financing transaction.
The financial results, which are preliminary estimates, provide insight into the performance of the IGT Gaming & Digital Business during the first quarter of 2025. The specifics of these financial outcomes were not detailed in the press release. IGT’s decision to release this information is solely for the purpose of aligning with the Buyer’s disclosure requirements and is not indicative of any new strategic developments within IGT itself.
The Gaming & Digital business had been part of IGT’s operations until its classification as discontinued last year. The sale of this segment reflects IGT’s strategic shift and focus on other areas of its portfolio.
International Game Technology PLC, headquartered in London, operates in the miscellaneous amusement and recreation services industry and is known for its gaming technology and services.
This news comes as part of a mandatory filing with the U.S. Securities and Exchange Commission and represents a standard procedure for publicly traded companies, especially when related to transactions by associated entities that may impact financial disclosures.
Investors and stakeholders of IGT can expect more detailed information on the company’s financial performance when it files its complete financial statements, with the next earnings report scheduled for May 13, 2025. The information provided is based on a press release statement and does not include any forward-looking statements or speculative commentary. For deeper insights into IGT’s financial health and growth prospects, investors can access comprehensive analysis and 10+ additional ProTips through InvestingPro’s detailed research reports.
In other recent news, International Game Technology (IGT) reported its fourth-quarter 2024 earnings, surpassing analyst expectations for earnings per share (EPS) but falling short on revenue. The company achieved an EPS of $0.22, exceeding the forecasted $0.19, while its revenue came in at $651 million, below the expected $660 million. Additionally, IGT announced the sale of its gaming and digital business for $4 billion, a strategic move aimed at focusing on its core lottery operations. The company also launched new iLottery and cloud-based solutions, which are part of its ongoing efforts to innovate and expand its market presence.
In other developments, IGT introduced its Wheel of Fortune Video Poker game in Las Vegas, marking the global debut of this new gaming experience. The game, which combines elements from IGT’s video poker and Wheel of Fortune slots, has been introduced at the Downtown Grand Hotel & Casino (EPA:CASP). Following its successful launch, plans are underway to expand the game to additional markets. Analysts from firms like Stifel and Truist expressed interest in IGT’s strategic initiatives, including the impact of the Mega Millions price increase and the company’s capital allocation strategy following the sale of its gaming business. These developments indicate IGT’s focus on strengthening its lottery business and exploring new growth opportunities.
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