International Game Technology Filiales
IGT is an American gaming company that manufactures and distributes slot machines and other gaming technology. The company was acquired by Gtech in 2015 and retained the IGT name. Here, we discuss the company’s recent expansion into European markets, gaming management systems, and a lawsuit against DoubleDown Interactive.
IGT’s expansion into European markets
The James Webb telescope is set to expand into the European markets. The launch of the telescope is a perfect example of how an expansion into a new market can be a delicate exercise. It is essential to keep core values consistent and avoid alienating potential customers. If you want to expand your business into Europe, here are some tips.
The European Union is a very open market. The EU’s member states are very supportive of free trade and encourage local and regional partnerships. The free movement of goods is a big benefit to businesses expanding into these markets. The single currency also helps stabilize prices and makes international trade and sales much easier.
Despite the challenges, the European market is a massive opportunity. With over 342 million people, Europe is one of the largest markets in the world. Amazon alone operates six marketplaces in the region. In addition, the competition is much less intense in the region and the ROI and CPC are higher. In order to succeed in the European market, you must conduct proper research and understand the local culture.
The European economy is a mature one and has a large consumer base. Yet many companies assume a copy-and-paste approach when deciding to expand into the continent. Despite the challenges, a strategic approach and careful planning can help a company thrive.
IGT’s gaming management systems
International Game Technology subsidiaries provide gaming management systems that can help operators manage their venues and maximize revenue. The IGT Systems division partners with venues to implement the right solution to meet their specific needs. Its ADVANTAGE CLUB software provides a host of features and tools in one easy-to-use package. It can help track revenue, implement cashless gaming, and offer bonuses during specific events.
IGT is one of the world’s largest gaming suppliers, and its subsidiaries offer products and services to casinos in more than 100 countries. They are involved in slot machines, video poker machines, lottery operations, and technology services. They also have a foothold in sports betting and online gaming platforms.
In 2008, IGT opened the Global Technology & Interoperability Center (GTIC) in Reno, Nevada. This facility covers more than six thousand square feet and is used to test products and services in a real casino environment. In November 2010, IGT announced the production of its two millionth slot machine. In 2011, the company also acquired the Swedish poker network Entraction and Seattle-based Double Down.
In addition to providing gaming management systems, IGT also offers slot machines and slot machine manufacturing and distribution. These gaming products are designed to be both player-friendly and profitable, and IGT is committed to providing high-quality products at competitive prices. The company is also committed to offering exceptional support and service.
IGT’s lawsuit against DoubleDown Interactive
International Game Technology has agreed to pay almost $270 million to settle a class-action lawsuit against DoubleDown Interactive, a former subsidiary. The lawsuit, Benson v. DoubleDown Interactive LLC, was originally filed in 2017 and involved customers of DoubleDown’s social casino games. The former customers argued that the social casino games constituted illegal gambling in the state of Washington. The settlement must now be approved by the US Federal District Court for the Western District of Washington.
The lawsuit claims DoubleDown Interactive’s social casino games violate Washington state gambling laws. In addition, the plaintiffs are seeking unspecified money damages and attorneys’ fees and costs. In July 2018, the lawsuit was amended to include Mary Simonson and other former DoubleDown customers.
The settlement is a win for investors and helps eliminate the near-term headline risk for IGT. However, investors should still monitor its capital return and debt reduction plans, which could include elevated dividends and stock buybacks. Additionally, IGT has made inroads into digital gaming and sports betting.