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Tuesday, November 8, 2011 : Increased interactive revenue flowing from the acquisition of Entraction Holding AB
The Reno-based gambling machine manufacturer and interactive supplier International Game Technology reported Tuesday on its Q4 fiscals, saying that profits more than doubled from a year earlier to $60 million.
And for the fiscal year ending Sept. 30, net income jumped nearly 33 percent, to $292 million, from the previous year.
CEO Patti Hart revealed that the company plans a bigger interactive sector presence, saying: “In fiscal year 2011, we grew revenue, leveraged our gaming operations, improved margins, positioned the international business for growth and increased our interactive presence.
“We are focused on improving all aspects of our business, with the expected outcome of improved returns to our shareholders in fiscal year 2012.”
The higher earnings come after the company slashed its workforce several times in recent years through layoffs and attrition.
Hart reported a 14 percent rise in fourth-quarter revenues to $540 million, of which more than half was generated from gaming operations and the rest in product sales.
Fourth quarter revenues from gaming operations increased 8 percent to $283 million compared to $261 million in the prior year mostly due to improved WAP performance, growth in the International install base and increased interactive revenue with the acquisition of Entraction Holding AB.
Operating income for the fourth quarter was $116 million, an increase of 18 percent, compared to $98 million in last year’s fourth quarter,
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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