International Game Technology (IGT) has extended its agreement with the New York Lottery. The renewed deal will see the two continue working together until August 2026.
The Provider Will Continue Supplying the NY Lottery
The four-year extension will also expand the agreements between IGT and the lottery. For example, the provider will use a new claims and payment system, while it keeps on supplying the New York Lottery with the lottery central system.
In addition, IGT will continue powering what it considers to be one of the best lotteries in the US with its various solutions, including field services, instant ticket warehousing and distribution, call center support, retailer training and infrastructure improvements.
IGT’s chief operating officer of lottery, Jay Gendron, spoke about the agreement. He noted that his company and the New York Lottery have worked together for what is more than three decades now. The two have enjoyed a robust partnership so far and Gendron is happy to continue supplying the lottery with best-in-class solutions.
IGT has built a trusted partnership with the New York Lottery since 1986. For more than 35 years, we have worked collaboratively with the Lottery to deliver world-class, innovative solutions for retailers and players alike.
Jay Gendron, COO lottery, IGT
IGT Expands Footprint Despite Financial Challenges
At the beginning of August, IGT posted its financial results for the second quarter of 2022. Despite being one of the powerhouses in the sector, the company recorded a slight decline in its revenues. All segments seemed to underperform as the company failed to see a major improvement in its standings.
Luckily, the decline is very slight but the company also recorded some concerning losses. Despite earning a net income of $300 million in Q2 2021, the company now had a net loss of $4 million.
Although IGT has some struggles, it continues to improve its presence in the United States and beyond. At the beginning of August, the company inked a partnership deal with Nisqually Red Wind Casino, a Washington-based tribal venue. The renowned supplier powered the casino with sports betting, allowing it to engage sports fans in the state.
In July, IGT also expanded its footprint in the LATAM region thanks to a deal with Nuevo Casino Alberdi, a brand new casino in Salta, Argentina. IGT agreed to supply the fresh venue with its critically-acclaimed games and gaming cabinets.
IGT also expanded its Mega Millions agreement with Holland Casino, a notable Dutch operator. Overall, IGT continues to expand globally but will now have to adapt to the financial challenges caused by the rising costs of energy and the ever-dynamic nature of the market.