IGT, or International Game Technology, is a global gaming and lottery systems company, who specialise in the design and development of gaming machines and software systems used in casino games. They are one of the largest of this type of company in the world, and have been involved in the gaming industry since 2005. IGT develop about half of the slots games and machines used in the United States. They are listed on the New York stock exchange as well, and their annual turnover is almost two billion dollars. Apart from the development of the gaming machines, and the creation of the games themselves, IGT are also part of the international sales and distribution of the machines and the mobile and online systems used in the market.
IGT’s main headquarters are located in London, England, but they have operating offices in most of the countries of the world. In 2014 IGT agreed to a takeover by GTECH, for the huge price of over six billion dollars.
History of IGT
IGT was established as a private company in 1971, but went public in 1981, after their success with their video poker gaming product, which was the beginning of their interest in the development of various casino games. In 1984 IGT acquired Electronic Data Technologies, which made the company one of the first to use the computerised player tracking concept. They later became involved in the player rewards programs, which remain an integral part of any casino betting site to this day. This system gave casinos a new marketing tool in management of players, and this became part of IFT’s programs to the present day. Many new technologies were developed over the years, and a number of new products were the result. One of these was the company’s entrance into the market of the spinning reel slot game.
Some of IGT’s innovations in this area were the progressive slot machine system under the name of the Nevada Megabucks. With an initial base jackpot of one million dollars, the progressive new game allowed for million dollar payouts for casinos on the system. During this time IGT also expanded in to Australia. In 1991, IGT was listed as a top performing stock on the New York stock exchange. In 1996 IGT introduced the Wheel of Fortune progressive slot, and this continues to be one of the most popular gaming machines of all time. The new S2000 spinning reel slot machine was developed in 1999.
In 2005 IFGT celebrated its 25th anniversary as a public company. The company acquired several companies along the line, including Wagerworks for its online technology, and that year also saw the introduction of the multi level progressive Mega Jackpots product.
Well Known and Well Loved Slots Games
In November 2010, IGT celebrated the production of its two millionth slot machine. They have remained one of the leading companies that design and develop a wide variety of slot games. IGT gaming machines are among the best in the market today. Their slot games are also among the world’s best known games, for example, Battleship and Cleopatra, Dungeons and Dragons, Ghostbusters, Star Trek and Transformers.
In July 2014 the Italian gaming equipment company acquired IGT for over six billion dollars, and the company would be combined under a new holding company based in the United Kingdom. The new company would be known by the name familiar throughout the world, the International Game Technology, or IGT.