IGT's Social Online Gambling Strategy Paying Off

Published Monday, November 11, 2013 - Online-Casinos.com
IGT's Social Online Gambling Strategy Paying Off

International Game Technology is a Nevada USA based company specializing in the design, development, manufacturing, sales and distribution of gaming machines and network system products internationally, as well as online and mobile gaming solutions for regulated markets. In jurisdictions other than the USA the company has been involved in online gaming since 2005. IGT has interactive offices in San Francisco, London, Manchester, Tallinn and Stockholm.

Recently IGT, posted a 9% growth in revenue for the 2013 fiscal year, as their very popular social and mobile casinos gained significant traction in popularity. The company’s social gaming revenue was up by an outstanding 151%, climbing to $219 million, almost a tenth of the gambling firm’s total revenue.

In 2005, IGT purchased the UK focused online gaming suppler Wagerworks for $90 million. Wagerworks supplies casino and slot games to various in online gaming sites, including Paddy Power, William Hill and Betfair. The company provides over 100 real money wagering options for customers in regulated jurisdictions.

IGT Interactive’s mobile portfolio includes mobile slot, table, lottery and SMS games, mobile marketing, and platform products across all major mobile technologies including Apple and Android. Social casinos are not as profitable as the traditional online gambling entities but IGT is banking the volume will help make the idea work.

Chief Executive Officer for IGT since 2009 Patti Hart maintains the company strategy is making the grade, “We continue to drive significant revenue and earnings per share growth through the successful execution of our strategy and disciplined approach to capital allocation. Our goal, as always, is to maximize our returns to shareholders through targeted share repurchases, consistent dividends and robust earnings growth.”

IGT also recently announced that its IGT Cloud has gone live across the full Aspers Group estate of four casinos.

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