IGT Drops Lottery
By staff
Last Friday, a Gaming technology giant agreed to sell its Online Entertainment business systems to Scientific Games for $143 million.

But the investors of International games Technology has hardly responded to Friday’s agreement—which means that IGT have not lost much in sticking to its core business.

The sales include IGT held to sell lottery tickets in handful in the states and the Caribbean, as well as selling systems overseas.

IGT Online systems— worth roughly $140 million per year— not much compared to the company’s $1.88 billion in sales for the fiscal year ended last September, though quite a lot to Scientific Games which posted $455 million in sales in 2002.

Online Lottery business was not in IGT stable for long. Having acquired the business with its acquisition with Anchor Gaming last year, IGT was quick to push it out of the door. The giant has eight US lottery contracts, but did not like the idea of competing to grow this business or to maintain the contacts it has.

Instead IGT will now focus for what it is renowned for—developing and computerised gaming systems and equipment leasing.

 
 
 
 
 
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