Founded in 1975, International Gaming Technology (IGT) is the “Godfather” of gaming manufacturing and distribution. The title can be given not only for their longevity in gaming, but also due to their famous slot titles developed over the years. Headquartered in Reno and Las Vegas, Nevada, IGT went public back in 1981 after it’s success as a leading manufacturer in video poker machines. Currently, they produce nearly half of the land based slot machines in the US. In 1991, IGT began trading on the New York Stock Exchange (NYSE) under the symbol: IGT. IGT developed Wheel of Fortune-branded slots since 1996 which was a big game changer in slot manufacturing. The land-based slot based on the popular TV game show has become one the most popular games of all time, rounding out $3bn in jackpots to date.
In 2005, IGT purchased WagerWorks which put the company on the map for slot game development in online gaming regulated markets. Key features of online IGT produced slots include multi-way wins, stacked wilds, and plenty of free spins. Some of the most recognizable online titles stem from the land based slot machines. Tied with Wheel of Fortune, the most popular and iconic slot game world-wide was developed by IGT and that’s Cleopatra. Cleopatra has become a smash hit slot game both land based and online. Variations of the game include Cleopatra II and Cleopatra Multi-Play. The enticing music and egyptian theme lures slot players of all demographics. Other famous games include the Wheel of Fortune Progressive slot, Cats, Wolf Run, and Davinci Diamonds. IGT is very transparent with their RTP% (Return To Player). The company lists all of the RTP’s for each of their slot games via their website. You will find that they range from 90-98%.
2011 and 2012 were big years for IGT as they acquired Entraction poker network in 2011 to compete in the regulated poker market space. However, following a big loss in player liquidity, the network shut down a year later. IGT shifted it’s focus to their casino offering as well as delved into social gaming opportunities. They purchased the social casino DoubleDown in 2012 for $500 million. IGT’s popular slot titles can be seen at DoubleDown Casino on Facebook with the likes of Wheel of Fortune Triple Extreme Spin and Wheel of Fortune Double Diamond. In Q4 2013, IGT saw a revenue increase of 72% to 61 million. In 2014, DoubleDown grew a further 22% in year on year profits. DoubleDown Casino has become the world’s largest free to play casino.
In July 2014, IGT was bought by Italian Lottery Giant, GTECH for $6.4 Billion. A new holding company was set up in the UK and the new name would become GTECH. The company will continue to bring unparalleled excitement both to your local casino and online, for both free to play, and for real money gambling.