Companies‎ > ‎US Research‎ > ‎

International Game Technology (NYSE: IGT) | Company Profile, History, Competitors


International Game Technology  (NYSE: IGT) is a gaming manufacturer that offers lottery, gaming machines and online gaming. IGT holds a #1 position in global lottery, #1 position in gaming equipment and is a leading provider of social and real money interactive gaming. It was founded in 1993 and headquartered in Providence, RI.

IGT was founded as GTECH in 1993 as the sole concessionaire to the Italian lottery. In 2014, GTECH acquired the former IGT gaming systems business and renamed itself IGT. Currently, IGT is one of the largest lottery service providers in the United States. IGT also manages the system of Video Lottery Terminals in Italy.

Business Overview

IGT has three key segments:
  • Lottery (40% of 2017 Revenues): IGT holds a large share of the global lottery market. IGT operates in the lottery market through concessionaires and full operations.
  • Gaming (51% of 2017 Revenues): IGT designs, develops and manufacturing gaming cabinets for casino operators around the world.
  • Other (9% of 2017 Revenues): IGT provides interactive gaming on the internet for real money or virtual money. IGT provides systems to manage lotteries and gaming equipment.

Lottery Segment

IGT manages all activities in the lottery value chain including collecting wagers, paying prizes, accounting, data transmission, processing, staff training and supply of materials. There are two types of lottery contracts. Facilities management contracts require construction of a lottery system and operation for typically five to ten years. Product sale contracts require the construction and installation of a lottery systems solution for a fixed price.

IGT started its business as the sole concessionaire to Italian Lotto since 1993. Italian Lotto is the world's largest draw-based lottery. This includes both online and off-line lotteries. IGT also provides instant tickets in Italy through its 64% owned subsidiary Lotterie Nazionali.[1]

IGT provides instant and online lottery solutions to 40 of the 45 US states including the largest NY, CA and TX.[2] 

Gaming Segment

IGT designs gaming cabinets and sells through fixed fee, participation and product sales contracts.

In the US, IGT typically sells through participation contracts. The casino customer pays service fees that is a % percentage of amount wagers. IGT has contracts with over 400 casinos in North America. IGT also has agreements to provide cabinets to tribal-based casinos in the United States as well.

In Europe, IGT provides product sales to licensed gaming operators. IGT operates a large system of Video Lottery Terminals (VLTs) in Italy. 

Other Segment

IGT provides online games for both real money and virtual currency. IGT's key game is Double Down Interactive. Double Down Interactive operates the leading DoubleDown Casino game that offers blackjack, slots, video poker, bingo and roulette.

IGT operates a large sports betting program in Italy.

IGT develops software for lotteries and systems software casinos to manage their gaming systems. IGT also provides collection services and payment transactions for gaming operators.

Currency Impact

IGT is very active in the Italy market and its revenue terms may be affected by geopolitical changes in Italy. IGT is exposed to FX headwinds given its exposure to Europe and international markets.


Marco Sala (CEO): Marco Sala has been CEO since 2015. Prior, he was CEO of GTECH and oversaw all Americas, international and Italian operations. He joined GTECH as co-manager in 2003 where he was responsible for Italian and other European operations.

Alberto Fornaro (CFO): Alberto Fornaro serves as CFO since 2015. He overseas Finance, Accounting, and Control Organization. Prior, he served as CFO of GTECH.


 $ USD in millions       2014  2015  2016  2017
$3,812  $4,689  $5,156  $4,938 
 Gross Profit
$1,298   $1,751   $2,018   $1,806 
 Operating Profit 
$715   $128   $660   ($51)
 Net Income
$86  ($486) $211   ($1,068)
 $0.50   ($2.53)  $1.05   ($5.26)


1. As of 2016
2. As of 2016