International Game Technology (IGT) was an American gaming company based in Las Vegas that manufactured and distributed slot machines and other gambling technology. It was acquired in 2015 by GTECH for $6.4 billion, which then adopted the IGT name.
History 1975–1990 IGT was founded as an A-1 Supply by William "Si" Redd in 1975. It changed its name to Sircoma in 1978, and then to International Game Technology (IGT) in 1981. The company went public in 1981,Mick Roemer, "The Slot Machine Kings." Roemer Gaming LLC. May 2008. Web. 01 July 2010 following its success in the video poker machine industry.Al Moe, "International Game Technology " About.com. Web.
In 1984, IGT acquired Electronic Data Technologies, becoming one of the first companies to use the Computerized Player Tracking concept (CPT), which later contributed to the growth of 'frequent-player rewards' programs. This initial system gave casinos new marketing tools in player management, and over time, the tracking system evolved into the company's IGT Advantage and SBX"."Casino Management systems.
After IGT's IPO and NASDAQ listing, the company introduced the S-Slot. This marked its entry into the spinning-reel slot market, and the Player's Edge video poker machine. IGT also launched the Nevada Megabucks slot machine, the first wide-area progressive slot machine system with a $1 million base jackpot. Additionally, IGT established an office in Australia to target the club market.
1991–2000 In January 1991,"International Game Technology ." New York Stock Exchange. 01 July 2010. Web. 01 July 2010 a decade after its initial public offering, IGT was listed on the New York Stock Exchange (NYSE). The following year, IGT Europe was established to service casinos across the continent, and commissioned new offices in South Africa, and Argentina.
In 1996, IGT licensed the game show Wheel of Fortune for a line of slot machines; chairman Charles Mathewson had encountered a Sony Pictures Television executive by chance at an awards show.
During this time, they also introduced The Game King video product"Game King Video Poker ." International Game Technology. 2008-2010. Web. 01 July 2010 which featured multi-denomination technology.
In 1998, IGT acquired Barcrest Gaming, located in the United Kingdom, along with Sodak Gaming, the distributor for the Native American market. In that time, IGT also introduced Triple Play Draw Poker through its partnership with Action Gaming,"Action Gaming ." International Game Technology. 2008-2010. Web. 01 July 2010 and an Elvis-themed slot machine. Their new S2000 spinning reel slot machine system was brought to the market in 1999."S2000 Slots ." International Game Technology. 2008-2010. Web. 01 July 2010
2001–2012 In 2001, IGT became a member of the S&P 500. The company also continued to acquire gaming companies including Silicon Gaming and Anchor Gaming. The acquisition of Anchor Gaming resulted in doubled gaming operations revenue.International Game Technology Announces Filing of Articles of Merger With Anchor Gaming for Consummation of the Merger on December 30, 2001. IGT.com. International Game Technology, 26 Dec. 2001. Web. 01 July 2010 The Anchor acquisition also gave IGT the rights to patents it had licensed for bonus wheels on slot machines, which were being leveraged for the Wheel of Fortune line.
During 2003, IGT acquired Acres Gaming. The company's bonuses and systems technology were a significant addition to IGT's games and systems products. In 2004, the company introduced its central determination system (CDS) as well as its Class II bingo games and systems to the Native American market. IGT Canada was established to serve the emerging Canadian lottery and gaming markets.International Game Technology Offices. International Game Technology. 2001-1010. Web. 01 July 2010.
In 2005, IGT celebrated its 25th anniversary as a publicly traded company. During that year IGT acquired Wager Works, and the company unveiled its first multi-level progressive Mega Jackpots product, known as Fort Knox.IGT Launches Its 25th Anniversary With Impressive Lineup of New Games and Products at Global Gaming Expo. IGT.com. International Game Technology. 07 Sept. 2005. Web. 01 July 2010 In an effort to take advantage of emerging markets, new IGT offices were opened in Macau, Mexico and Russia.
Group play and community bonus games were introduced to the marketplace in 2006 with the debut of Wheel of Fortune Special Edition. The company also celebrated its 10th anniversary of Wheel of Fortune slots,Wheel of Fortune Slots . Penny-Slot-Machines.com. Web. 14 March 2011 as well as the 20th anniversary of the Megabucks wide area progressive game.
During the Global Gaming Expo in Las Vegas in 2006, IGT revealed the M-P Series. The new multi-player concept focused on roulette and baccarat and was the first of the company's electronic multi-player table game products.IGT Focuses in on 'The Big Picture' at Global Gaming Expo. IGT.com. International Game Technology. 06 Nov. 2006. Web. 01 July 2010
In 2007, IGT worked to grow its Mexican gaming operation and product sales in the Japanese and Asian markets. In addition, a new IGT office was opened in China. Two intellectual property arrangements were also announced. These included an arrangement with Austrian-based Novomatic focusing on IGT's M-P Series multi-player productIGT Acquires Novomatic Intellectual Property for Multi-Station Games. IGT.com. International Game Technology. 23 Nov. 2006. Web. 01 July 2010 and with Pure Depth, Inc. for its 3D-like, Multi-Layer Display (MLD) technology.IGT and PureDepth Launch World's First MLD-Based Product. IGT.com. International Game Technology. 31 Dec. 2007. Web. 01 July 2010
IGT opened the Global Technology & Interoperability Center in Reno, Nevada, early in 2008. This first-of-its-kind research and testing center encompasses a facility, which is available for use by gaming manufacturers, customers, and third-party gaming product manufacturers. The collaborative center focuses on product testing in a true-to-life casino atmosphere prior to market release.Schneider, Rich. "CEM's Networked Gaming Guide Volume 1 Issue 2", Casino Enterprise Management, 30 June 2009. Web. 01 July 2010 In an effort to diversify business and market opportunities in the United Kingdom, the company acquired Cyber-view Technology, Inc.International Game Technology Completes Acquisition of Cyberview Technology, Inc. IGT.com. International Game Technology. 08 July 2008. Web. 01 July 2010
The company opened IGT Technology Development (Beijing) Co., Ltd. in Beijing, China, in March 2009. The office was established to research and develop gaming, application and systems in addition to providing support, technical services and training."Locations." International Game Technology. 2008-2010. 01 July 2010
In 2009, Patti S. Hart was appointed as IGT's new president and CEO.Patti S. Hart Named New IGT President and CEO. IGT.com. International Game Technology. 29 March 2009. Web. 01 July 2010 That year also saw the release of SBX Tier One package by IGT Network Systems.IGT Announces Sale of sbX(TM) Tier One to Imperial Palace Biloxi. IGT.com. International Game Technology. 08 May 2009. Web. 01 July 2010
Sex and the City Slots were introduced in fall 2009 in the United States.World Premiere: Sex and the City(TM) Slots. IGT completes debut installs of new slot machine based on award-winning HBO(R) series at nine Nevada casinos. IGT.com. International Game Technology. 04 Dec. 2009. Web. 01 July 2010 This game features game play with bonus rounds on a multi-level progressive jackpots platform. The year ended with IGT's SBX Experience Management System being installed at ARIA Resort & Casino at City Center in Las Vegas.IGT's sbX(TM) System Now Live at ARIA Resort & Casino. Next generation casino floor sets new standard for operator flexibility and player experience. IGT.com. International Game Technology. 21 Dec. 2009. Web. 01 July 2010 ARIA's casino floor opened with a first-of-its-kind combination of IGT systems on the server-based network, including IGT Advantage and SBX.
IGT started 2010 with a repeat win at the International Gaming Awards as Best Slot Manufacturer of the YearIGT Wins Best Slot Manufacturer at 2010 International Gaming Awards. IGT.com. International Game Technology. 27 Jan 2010. Web. 01 January 2010 and continued to win awards throughout the year. These included 16 awards in Casino Player magazine's Best of Gaming for 2010, top honors in Global Gaming Business' 8th Annual Gaming and Technology Awards, wins in the inaugural Casino Enterprise Management Hospitality Operations Technology Awards, and 35 awards in Strictly Slots Best of Slots Awards.IGT Named Favorite by Industry and Players Alike. IGT.com. International Game Technology. 2 Dec 2010. Web. 01 Dec 2010
In the spring of 2010, IGT's SBX Experience Management System was installed in the first European locations as SBX went live at Casino D'Evian in France.IGT's First sbX System in Europe Live at Casino d'Evian in France. IGT.com. International Game Technology. 25 May 2010. Web. 01 May 2010 This was followed by a number of additional European installations including Casino di Venezia in ItalyItaly's Casino di Venezia installs sbX Casino Management System. IGT.com. International Game Technology. 29 June 2010. Web. 01 June 2010 and Grand Casino Helsinki in Finland.IGT's sbX Casino Management System Goes Live in Finland IGT.com. International Game Technology. 24 June 2010. Web. 01 June 2010
In November 2010, the Company celebrated the production of its two millionth slot machine.IGT Celebrates 2 Millionth Machine. International Game Technology. 15 Nov 2010. Web. 01 Nov 2010
Late 2010 also saw the creation of an Interactive division within IGT dedicated to further building its online and mobile gaming presence.IGT Announces Online and Mobile Gaming Division. International Game Technology. 10 Nov 2010. Web. 01 Nov 2010 IGT's Wager Works and Million-2-1 groups merged into a single global division headquartered in San Francisco, California. This new division provides gaming products to online and mobile markets in regulated, legal markets globally. The year ended with a substantial go-live for both IGT's network systems products and games. The new casino resort, Cosmopolitan of Las Vegas, opened floor-wide in sbX; the majority floor share of games; plus, an entire suite of IGT Advantage system products.IGT Partners with The Cosmopolitan of Las Vegas to provide integrated casino network. International Game Technology. 10 June 2010. Web. 01 June 2010
IGT acquired Entraction in 2011. It was a poker network and video game developer with headquarters in Stockholm, Sweden. It also acquired Double Down in 2012, a Facebook game company with its headquarters in Seattle.
2013–present In January 2013, IGT filed its preliminary proxy materials and indicated that it had received a Notice of Intent to Nominate four director candidates for election to the IGT Board at the Company's 2013 Annual Meeting through The Ader Group, run by Jason Ader. The intent of the notice was to inform IGT and its shareholders of a proxy battle that was going to take place, and that the Ader group's nominees include the slot-machine maker's former chief executive Charles Mathewson, and Jason Ader himself.
Following the initial release by IGT, The Ader Group issued a statement claiming that IGT relayed inaccurate information concerning Jason Ader and the Ader Group's proxy fight. The initial filing with the Securities and Exchange Commission by IGT suggested that Ader's group seeks election to the board, as Ader and Mathewson control 3 percent of IGT, (8.05 million shares), and they are seeking additional proxies for the company's 2013 annual shareholder meeting to put Mathewson back on the board IGT. IGT maintained its original statement.