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Friday 23rd January 2004
International Game Technology, who sold their online lottery to Scientific games last September so that they could focus on making slot machines, have announced a sharp rise in quarterly profits this week. Net income rose from £91.6 million to £176.3, thanks in no small part to increased foreign sales, particularly to Japan, and domestic sales of new-technology machines that pay jackpots with printed tickets instead of cash.
The machines are popular with casinos because they cut costs. Domestic replacement-sale units rose to 16,400 for the quarter from 11,100 a year earlier, and are on track for 60,000-65,000 this year. “The improvement in total domestic unit sales resulted primarily from strong replacement sales across all of our domestic markets, as well as new unit sales into the Canadian casino and video lottery markets,' said an IGT spokesperson.
Shares of IGT are up 90 percent in the last 12 months and further prosperity is predicted. The future remains bright and expectations for growth remain very much intact,' said T.J. Matthews, IGT president and chief executive.
Source: OnlineCasinoNews
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