IGT is one of the world’s top manufacturers of slot machines, providing casino games to venues not only in New Zealand but across the United States and Asia. Unfortunately for investors, the company has gotten off to a slow start in 2012, releasing some disappointing financial results.
While IGT maintains a strong foothold in the New Zealand gambling market, the North American market is presenting some problems. The company brought in $50 million, whereas the same time last year saw $73 in profits. According to a spokesperson for IGT, the first quarter of 2012 was the softest seasonal quarter for IGT, due to pursuing fewer club openings in the United States. However, the company maintains that things will look up later in the year.
In 2012, the company will look at expanding its land-based operators across the United States as well as in locations across Europe and Asia. As such, IGT plans on increasing its profits over the course of the rest of the year.
IGT is also well-positioned to enter the American online gambling market. Since IGT is already located in the United States and has an online division, the company could easily pursue online operations in the country and see a significant increase in profits when online gambling becomes available to American residents.