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Slot Maker’s Profit up on Coinless Slot Sales
International Game Technology today reported a 92 percent increase in
earnings for its fiscal first quarter as casinos traded in older
machines for new ones and new locations gravitated toward IGT games.
The world’s largest slot machine maker posted earnings of $176.3
million, or 50 cents per share, in the quarter ended Dec. 31. That
compares to earnings of $91.6 million, or 26 cents per share, in the
year-ago quarter. Revenue rose 24 percent to $608.1 million from $489.6
While few states opened their doors to new forms of gambling over the
past year, IGT executives said they are optimistic that discussions
about gambling expansion will continue nationwide.
With 44 of 50 state governments back in session, gambling "is a major
topic" and is favored by several governors as an alternative to raising
taxes or cutting services in troubled times, Chief Executive T.J.
Governors in several states, including Oklahoma, Pennsylvania, Kansas
and California, are looking to gambling as a revenue source, Matthews
"You’re seeing more jurisdictions talk about gaming expansion than at
any other time in the history of our company," he said.
New York, which is expected to launch slot machines at racetracks
during the next several months, represents the single most important
market on the horizon, he said.
entire article at:
Las Vegas Sun
2004 Online Casino News Archive