On Thursday, Shares of International Game Technology Ordinary Shares (NYSE:IGT), added 1.66% and now trading at $23.84 in the current trading session. The current trading range of the stock ranges between $23.52 and $23.84.
International Game Technology PLC (NYSE: IGT) has declared that its partner, IGT Global Services Limited (with International Game Technology PLC, hereinafter “IGT”) has declared that it has signed a contract with Lotterie-Treuhandgesellschaft mbH Thüringen (Thüringen Lottery) in Germany for the modernization and maintenance of its central system. Thüringen Lottery, a World Lottery Association member, has been a valued customer of IGT (formerly GTECH) since 1996.
Under the contract, which is for seven years with optional renewals thereafter, IGT will provide Thüringen Lottery with an evolved central system solution that includes hardware and technology upgrade, in addition to system modularity and improved third-party access. This project modernizes the current central system that has successfully powered Thüringen Lottery’s processing, reporting, and transactions for the past 12 years. The system is expected to launch in the starting of 2018.
“With this new long-term contract, Thüringen Lottery will continue to benefit from the security and reliability of a modernized central system from IGT, while reducing the costs of future enhancements and offering overall improved service,” said Declan Harkin, IGT Senior Vice President and Chief Operating Officer, International. “This contract will ensure the lottery’s sustainability and success now and in the years to come, and represents our ongoing commitment to growing our presence in the German lottery market.”
The IGT platform is a fully integrated lottery central system for the administration, processing, and reporting of games, in addition to commercial and financial transactions. It is quick and easy to scale up for hosting other multiple jurisdictions, and offers multitier architecture for easier maintenance and improved performance, open standards, and fast and secure transaction processing. It provides all the applications and services needed to operate a world-class lottery, with built-in flexibility that ensures growth throughout the life of a lottery program.
Analyst recommendation for this stock stands at 2.40.