A leader in designing, manufacturing and marketing games, International Game Technology (IGT) announced the extension of its existing contract with the University of Iceland lottery till Oct 1, 2018.
Originally signed in December 1993, the extended contract calls for enhanced collaboration between IGT and the University of Iceland. The agreement includes the provision of 190 new multi-layer display (MLD) video slot games which will replace the existing Game King 80960 machines.
The new MLD machines are of upright S MLD category with multi-level functionality including multi-game capability, server based gaming and 3D game graphics.
The company will install Casinolink in place of Megabuck central system, offering multi-site accounting capabilities, robust reporting, ticket-in/ticket-out and player tracking functionality.
The new Casinolink supports every part of the gaming operation by interlinking slot machines, table games, account-based wagering, marketing and the cage into one comprehensive system. With more than 40 customers operating more than 300 casinos globally, Casinolink forms an integral part of IGT’s open network.
The company will also implement EZ Pay, as per the terms of the agreement. The EZ Pay Ticket System is an independent system that links EZ Pay gaming machines, equipped with thermal ticket printers and advanced bill validators, for printing and reading of tickets.
A maximum of 50 gaming machines can be linked together in a loop, with the ability to connect numerous loops together using the cross-validation technology of IGT. Multiple cashier stations for redemption are also supported.
Under the original agreement, University of Iceland lottery operates Video Lottery Terminals and uses the revenues for expansion and renovation of its campus.
Currently, the University operates 470 IGT terminals, up from an initial 250 terminals in approximately 40 locations.
Gaming technology is constantly changing, with significant evolution expected in the industry over the next five years. One of the most momentous changes is the transition to the open network. We believe IGT recognizes the importance of open network and is well positioned to gain from server-based gaming.
IGT faces tough competition from Bally Technologies Inc. (BYI) and WMS industries Inc. (WMS).
We have a neutral recommendation on IGT.
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