In the latest edition of the Professor Slots podcast, Dr John Freidi PhD discussed International Gaming Technology’s (IGT) Q1 2021 financial report, arguing that it ‘shows a glimpse into the future of slot machine gambling in the US and abroad’.
Who is it?
Jon H. Friedl, Jr. Ph.D., President of Jon Friedl, LLC and Founder of Professor Slots
What is being said?
Providing an introduction on IGT’s operations on the Professor Slots podcast, Friedl began: “IGT does a lot more than manufacture the slots we love to play. Games include the long standing Wheel of Fortune, but some of the most popular video slots games in 2020 were Hex Breaker 3 and and Treasure Box Kingdom.
Moving on to IGT’s financial report, he said: “They did this on March 2, a few weeks ago, because of the legal requirements for SEC Security Exchange Commission reports. They have to be honest and easy to read. So, by reviewing their report annually this allows us a glimpse into the future of slot machine gambling in the US and abroad.”
He continued: “The company actually didn’t lose too much money due to the pandemic because their lottery sales went up. They divested something called B2C, an Italian company we don’t have too much to do with, and they decided to sell it.
“They did some restructuring, some cost savings that they were expecting, they announced an agreement to sell Italy’s B2C gaming machine and sports betting activities for Italy amounted to £950 million. It takes time to do this but they expected to do that in the first half of this year.
“Global sales seem stable, they emphasised sales growth over here (US). There has been a strong start to 2021 with steady growth. Their global gaming business is sustained due to innovation, but all casinos are closed globally, for the most part, although some are open with restrictions. The US casinos are open with restrictions, so when you start thinking about slots globally, understand that the pandemic has shut the casinos.”
Why should I watch it?
To hear unique insights about developments in the slot gaming world through the perspective of an enthusiast for the genre.
Where can I see more?
To listen to the full episode, click here
Source – Professor Slots Webpage