• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Deleverage, steady dividend IGT’s focus: Wells Fargo

Sep 14, 2015 Newsdesk Industry Talk, Latest News, Top of the deck  


Deleverage, steady dividend IGT’s focus: Wells Fargo

New York Stock Exchange-listed gaming equipment and services supplier IGT Plc is making deleveraging the company and paying a “steady” dividend its “top” priorities, said a note on Friday from Wells Fargo Securities LLC.

But analyst Cameron McKnight added: “Despite a resilient second quarter for IGT’s gaming equipment business, longer-term stability could be an ‘18- to 24-month’ journey.”

The note followed meetings with IGT’s management.

IGT Plc was created from the US$6.4-billion merger in April of Nevada-based slot machine maker International Game Technology and Italy-based lottery specialist GTech SpA.

The new entity incurred interest expenses of US$122 million in the second quarter, on increased debt to finance the merger. The creation of the new IGT has contributed to a group net debt of US$8.38 billion as of June 30, it said in its second quarter results, filed in August.

Mr McKnight said on Friday on the meetings with company executives: “We came away incrementally more positive on management and the company’s leadership.”

IGT saw its revenue grow in the second quarter but its income declined for the period.


  • tweet
Related articles
  • IGT board to slim when director leaves in May
    IGT board to slim when director leaves...

    Apr 22, 2021  

  • IGT casino floor system for Versaces Club in Hanoi
    IGT casino floor system for Versaces...

    Nov 10, 2020  

More news
  • Macau March GGR up 247pct y-o-y, to US$1.6bln: govt
    Macau March GGR up 247pct y-o-y, to...

    Apr 01, 2023  

  • Some Macau hotels say no rooms vacant 3 days of Easter
    Some Macau hotels say no rooms vacant 3...

    Mar 31, 2023  


Latest News

Macau March GGR up 247pct y-o-y, to US$1.6bln: govt

Macau March GGR up 247pct y-o-y, to US$1.6bln: govt

Apr 01, 2023  

Macau’s casino gross gaming revenue (GGR) was up 246.9 percent year-on-year in March, to just under MOP12.74 billion (US$1.58 billion). The March tally was up 23.4 percent month-on-month,...
Read More
Some Macau hotels say no rooms vacant 3 days of Easter

Some Macau hotels say no rooms vacant 3 days of Easter

Mar 31, 2023  

Macau 2023 GGR at 45pct of pre-Covid level: Moody’s

Macau 2023 GGR at 45pct of pre-Covid level: Moody’s

Mar 31, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”Efforts have pivoted to the construction of the hotel tower, with plans to launch a soft opening before the end of 2024 and a grand opening in 2025”

Casino investor LET Group

On the development of a casino hotel in Manila, the Philippine capital



Most Popular

  • Some Macau hotels say no rooms vacant 3 days of EasterSome Macau hotels say no rooms vacant 3 days of Easter March 31, 2023
  • Japan govt delays IR decision due to local elections: reportJapan govt delays IR decision due to local elections: report March 30, 2023
  • Sands China ups ties to China showbiz giant Star CMSands China ups ties to China showbiz giant Star CM March 29, 2023
  • Macau 2023 GGR at 45pct of pre-Covid level: Moody’sMacau 2023 GGR at 45pct of pre-Covid level: Moody’s March 31, 2023
  • Macau got 16k mainland package tourists in Feb reopeningMacau got 16k mainland package tourists in Feb reopening March 29, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us