IGT said its expects fiscal 2014 adjusted earnings from continuing operations between $1.28 and $1.38 per share. Since then, the stock has recovered 10% from its $16.50 bottom three weeks ago. Earnings, hit by higher income tax provisions, were up 21% to $1.03 per share, but that was short of the consensus outlook and shares took a beating, losing 10% in a day. In November, IGT topped analysts' revenue forecasts, reporting sales for the year ended September 30 up 8.8% to $2.34 billion. It's also active in online and social gaming, acquiring DoubleDown Casino in 2012.
Las Vegas-based International Game Technology (IGT) designs, manufactures and sells slot machines and other casino games, gaming equipment and systems technology. Emboldened by this success, let's head back into the casino, but not the operators of the gambling establishments like Sands, but the makers of the machines on the floor that literally suck in the money.
