UNLV Gaming Abstract: International Game Technology

UNLV Gaming Abstract
International Game Technology Company Profile

Why the company matters International Game Technology (IGT) is a global company specializing in the design, development, manufacturing, distribution and sales of computerized gaming machines and systems products. The Company operates through two segments: The North America Division and The International Division. The North America Division encompasses IGT's operations in the United States and Canada, including the IGT Systems group. North America comprised 79% of the Company's consolidated revenues during the fiscal year ended September 30, 2005 (fiscal 2005). The International Division oversees IGT's efforts abroad in Asia, Australia, New Zealand, Europe, Japan Latin America, Russia, South Africa and the United Kingdom. International comprised 21% of the Company's consolidated revenues in fiscal 2005. On August 25, 2005, IGT acquired WagerWorks, Inc. On December 31, 2004, the Company acquired substantially all of the assets of Hi-Tech.

Read IGT's Introduction to Slots and Video Gaming (6.5 mb, pdf)

1980: IGT incorporated in Nevada to facilitate its initial public offerring

1985: IGT forms a wholly-owned subsidiary, IGT-Australia, to manufacture gaming devices for the Australian market

1986: Megabucks, the first wide area progressive slot system, launched in Nevada

1986: IGT appoints an exclusive distributor for Europe and North Africa and authorizes its New Jersey distributor to sell IGT products in the Caribbean

1987: IGT appoins Indo Pacific to distribute its products in Southeast Asia

1988: IGT established CMS International, a wholly-owned subsidiary, to manage certain gaming operations for the company, initialliy in the Mizpah Hotel in Tonopah, Nevada

1989: CMS begins leasing the Treasury Club Casino in Sparks, Neada, and holds interests in the Silver Club and Antigua's King's Casino.

1990: CMS ceases operations in the Mizpah Hotel, and begins operations in the El Capitan Casino in Tonopah, Nevada

1990: IGT establishes the Iowa Riverboat Corporation, a wholly-owned subsidiary that held interests in the President casino riverboat and Blackhawk Hotel (Davenport, Iowa) and the Admiral riverboat (St. Louis, Missouri)

1990: IGT-Japan established

1991: Deadwood, South Dakota Megabucks begins operations

1992: IGT-Europe established in the Netherlands

1992: IGT divests itself of CMS and IRC, leaving casino operations; it also sells its Nevada gaming route to Jackpot Enterprises

1993: IGT-Iceland established to provide equipment and support for that country's video lottery operations

1993: IGT-Argentina established in Buenos Aires

1994: IGT-Brazil established in Sao Paulo

1996: IGT-Peru established in Lima

1996: IGT enters the pachisuro market in Japan

1996: IGT introduces its successful Wheel of Fortune and Game King slots

1996/7: New corporate headquarters built in Reno, Nevada

2000: IGT's EZ Pay system, a ticket in/ticket out slot machine payment system, completes its Nevada field tests at the Fiesta casino (Las Vegas) and is approved for operation

2001: EZ Pay slots become widely installed (ref)

2001: IGT acquires, via merger, Anchor Gaming

2002: IGT creates its Lottery Division

2003: IGT sells Anchor Gaming's Nevada slot route to Herbst Gaming

2003: IGT acquires via merger Acres Gaming

2005: IGT forms IGT-Canada

2005: IGT creates an Asian division based in Macau, S.A.R.

2005: IGT acquries Wagerworks

2006: IGT installs its first server-based slots at the Barona Casino, California

Gaming Division

North American Sales (offices in Nevada, Minnesota, New Jersey, and Ontario)

Native American Gaming (originally under Sodak subsidiary)