Casino equipment and gaming content provider International Game Technology Plc (IGT) has bought back just over 1.35 million shares of its own stock, for nearly US$22.2 million.
The company said on Friday that it acquired the ordinary shares in three separate exercises, between September 30 and October 14. They were part of the company’s share buyback programme announced in November 2021.
“The repurchased shares are being held in treasury,” said IGT in a filing.
The casino supplier announced last month a tender offer for some of its senior secured notes. The company stated at the time it was offering to purchase for cash, up to US$500 million in aggregate, from its US$1.0-billion 6.500-percent senior secured notes due in 2025; and from its EUR500-million (US$491.6-million) 3.500-percent senior secured notes due in 2024.
The company has since announced that it increased the “maximum acceptance amount” of its offering to just above US$600 million.
In August, IGT reported second-quarter operating income of US$228.0 million, down 6.6 percent year-on-year. That was on consolidated revenue that dipped 1.9 percent year-on-year, to just over US$1.02 billion. The firm’s board declared a cash dividend of US$0.20 per share for the three months to June 30, equal to US$41.0 million for the quarter.
