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International Game Tech IGT

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    1. Dropping Coverage of IGT

      Commentary

      Thu, 18 Dec 2014

      We are dropping coverage of IGT , as the company remains on-track to be acquired by GTECH in the first half of 2015. We provide broad coverage of more than

    2. IGT Has Another Tough Quarter, but Is on Track to Be Acquired

      Commentary

      Wed, 30 Jul 2014

      remains on track to be acquired by peer GTECH in early 2015. IGT shareholders will receive a portion of the buyout proceeds as shares ..... estimate. If the deal is not completed, we still estimate that IGT is worth roughly $14 per share on a standalone basis, as the

    3. GTECH Makes Offer for International Game Technology ( IGT ); Raising Our Fair Value to $18.25

      Commentary

      Wed, 16 Jul 2014

      GTECH announced a proposal to acquire IGT for $18.25 per share, or $6.4 billion ..... assumption of $1.7 billion in net debt. IGT shareholders will receive $13.69 in cash ..... near the transaction date. The deal values IGT at 8.8 times 2013 adjusted EBITDA and

    4. IGT's Sales Decline Significantly in 2Q; Shares Fairly Valued and a Potential Value Trap

      Commentary

      Wed, 23 Apr 2014

      second quarter is a result of an erosion in IGT 's economic moat, but rather is due to weakness ..... equipment business and a lack of innovation by IGT relative to competitors the past several years. While IGT trades at what appears to be an attractive

    5. IGT Under Review Following Reduced Guidance; Fair Value Estimate Will Decrease

      Commentary

      Wed, 26 Mar 2014

      its reduced outlook. We previously viewed growth prospects for IGT 's core gaming machine operations as limited, given the saturation ..... have a negative bias toward our stable moat trend rating. While IGT trades at a 15% discount to our expected new fair value estimate

    6. IGT Reports Weak 1Q Results; Shares Moderately Undervalued

      Commentary

      Fri, 24 Jan 2014

      equipment business, due to maturation of the North American gaming equipment market. Revenue increased 2% to $541 million, with IGT 's core gaming operations and product sales segment revenue, in aggregate, declining 2%. EBITDA declined 12% to $120 million

    7. From Barron’s, December 9, 2013 (Part 2)

      Commentary

      Sat, 7 Dec 2013

      the emerging-markets but his fund’s exposure there is small. Some companies are benefitting from technological changes [ IGT , TTWO ], including boosting online operations [ M, BBY ]. He has value orientation but he has picked up Macau gaming highflyers

    8. Buying the Shutdown

      Headlines

      Thu, 3 Oct 2013

      International Game Technology IGT reported fiscal fourth-quarter results that indicated our full ..... Pennsylvania and New York, among other regions. During its fiscal 2006, IGT also bought back 11.7 million shares for an average price of about

    9. International Game Technology Reports Solid Third-Quarter Results; Placing Stock Under Review

      Commentary

      Tue, 23 Jul 2013

      International Game Technology IGT reported third-quarter results that were in line with our expectations ..... not cause us to change our narrow economic moat rating. We are placing IGT under review to transfer coverage to a new analyst.

    10. International Game Technology Reports Solid 2Q Results; Shares Moderately Undervalued

      Commentary

      Fri, 26 Apr 2013

      International Game Technology IGT reported solid second-quarter results in line with our expectations ..... Illinois, and the acquisition of social gaming company DoubleDown. IGT continues to benefit from casinos accelerating the replacement of

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