IGT Benefits from Global Slot Machine Boom

23 Jan 2004

LOS ANGELES – As reported by the Dow Jones: "Slot machine maker International Game Technology (NYSE:IGT) is benefitting from huge global growth in the number of casinos cropping up as well as a sweeping conversion among existing casinos to slots that pay in vouchers rather than coins.

"…For IGT, the biggest producer of slots in the U.S., those factors helped push fiscal first-quarter earnings well above Wall Street estimates, and is prompting some analysts to raise earnings forecasts and share price targets for fiscal 2004.

"…Stronger shipments to international markets are also seen as an ongoing boon for IGT. In the fiscal first quarter, international machine sales increased 125% to 23,500.

"…IGT has been able to push prices for its machines higher, taking advantage of the fact that casino operators are getting better profits out of newly created games, and are spending less to operate and maintain cashless slot machines, which pay jackpots with redemption tickets…"

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	IGT Benefits from Global Slot Machine Boom 23 Jan 2004 <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> LOS ANGELES – As reported by the Dow Jones: "Slot machine maker International Game Technology (NYSE:IGT) is benefitting from huge global growth in the number of casinos cropping up as well as a sweeping conversion among existing casinos to slots that pay in vouchers rather than coins. "…For IGT, the biggest producer of slots in the U.S., those factors helped push fiscal first-quarter earnings well above Wall Street estimates, and is prompting some analysts to raise earnings forecasts and share price targets for fiscal 2004. "…Stronger shipments to international markets are also seen as an ongoing boon for IGT. In the fiscal first quarter, international machine sales increased 125% to 23,500. "…IGT has been able to push prices for its machines higher, taking advantage of the fact that casino operators are getting better profits out of newly created games, and are spending less to operate and maintain cashless slot machines, which pay jackpots with redemption tickets…"