IGT Searches for the Next Jackpot

8 Feb 2005

NEVADA – As reported by the Business Week: "Few companies have managed to stack the odds in their favor as successfully as International Game Technology (IGT ). Over the past decade, as demand soared for new slot machines -- in Indian casinos, riverboats, and splashy new Las Vegas resorts -- IGT hit the jackpot.

"…But nobody's luck runs forever. Even America's gargantuan appetite for gambling has its limits. IGT's chairman and CEO, Thomas 'T.J.' Matthews, jolted investors on Jan. 20 when he announced that the company's domestic slot-machine shipments had fallen 35%, to 14,700 units, in its first quarter, ended Dec. 31. Matthews said earnings for the rest of this year would probably be flat, at around $1.35 per share.

"…Matthews, 39, is determined to get IGT back in the money.

"…To get back on track, Matthews says he'll focus on new types of games, international sales, and developing business beyond traditional slots

"…IGT is making inroads overseas, where sales volume jumped 73% in the first quarter on the strength of new Japanese games. But Matthews is also pushing into casino-management software, such as a system to customize machines to each customer so that bonus rounds and other promotions pop up when a gambler inserts his frequent-player card…"

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	IGT Searches for the Next Jackpot 8 Feb 2005 <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> NEVADA – As reported by the Business Week: "Few companies have managed to stack the odds in their favor as successfully as International Game Technology (IGT ). Over the past decade, as demand soared for new slot machines -- in Indian casinos, riverboats, and splashy new Las Vegas resorts -- IGT hit the jackpot. "…But nobody's luck runs forever. Even America's gargantuan appetite for gambling has its limits. IGT's chairman and CEO, Thomas 'T.J.' Matthews, jolted investors on Jan. 20 when he announced that the company's domestic slot-machine shipments had fallen 35%, to 14,700 units, in its first quarter, ended Dec. 31. Matthews said earnings for the rest of this year would probably be flat, at around $1.35 per share. "…Matthews, 39, is determined to get IGT back in the money. "…To get back on track, Matthews says he'll focus on new types of games, international sales, and developing business beyond traditional slots "…IGT is making inroads overseas, where sales volume jumped 73% in the first quarter on the strength of new Japanese games. But Matthews is also pushing into casino-management software, such as a system to customize machines to each customer so that bonus rounds and other promotions pop up when a gambler inserts his frequent-player card…"