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IGT DELIVERS Q3/2011 RESULTS

Wednesday July 27,2011 : Interactive business will be an important contributor to revenue and earnings growth in the coming years.
 
Land-based and online gaming company International Game Technology (IGT) delivered the results of its fiscal third quarter ending June 30, 2011 this week.
 
Key Performance Indicators (compared to Q3/2010) for the period include:
 
-  Total revenues increased 3 percent to $489 million (Q3/2010: $475 million), of which 55 percent was generated from gaming operations and 45 percent from product sales.
 
-  Consolidated gross profit for the quarter increased 8 percent to $289 million (Q3/2010: $268 million), due to improved product sales volume.
 
-  Operating income for the third quarter was $141 million (Q3/2010: $120 million), an increase of 17percent attributed to higher revenues, lower cost of sales and flat operating expenses.
 
For the nine months ended June 30, 2011, total revenues decreased 2 percent to $1.42 billion, gross profit improved 2 percent to $841 million and operating income increased 19 percent to $389 million.
 
With specific reference to the company's interactive division over the review period, Patti Hart, chief executive officer, IGT said:
 
"In comparison to last year, our Interactive business grew revenue over 20 percent and increased gross profit nearly 30 percent.
 
"The acquisition of Entraction is expected to enhance our interactive market position by adding poker, bingo and sports betting to our industry-leading online casino products. This is a clear example of our plan to prioritize higher growth opportunities in a responsible manner. We believe that our interactive business will be an important contributor to revenue and earnings growth in the coming years.
 
"In summary, we are generating strong operating cash flow. Improving our gaming operations and product sales businesses, harvesting opportunities internationally and continuing to execute against our plan of becoming a full-service global partner in the interactive space."



Gambling News :

NHL Odds: Lightning go for Season Sweep Over Red Wings - The Tampa Bay Lightning (37-29-9) have been doing everything possible to make a fourth straight appearance in the Stanley Cup Playoffs. Without star centre Steven Stamkos, Nikita Kucherov (38 goals, 40 assists) and Victor Hedman (15 goals, 47 assists) have stepped up and will look to continue their strong play against the Wings. Game time is 7:30 PM ET on FS-D.

MPN Charity Poker Tournament at ICE 2017 - During what was a busy three-days for Microgaming at ICE Totally Gaming 2017, the MPN team enjoyed a charity poker tournament with Microgaming operators on Tuesday 7 February.

US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

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