The story of IGT is the story of the evolution of gambling. It is one of the principal game developers of the industry and is a result of the merger of three top brands, Lottomatica Consortium, IGT, and GTech. Each of the three companies has its roots in the gambling industry from as early as 1980’s and all their paths converged in 2015 when they merged to form the gaming giant of the iGaming industry. It is the absolute whale in the food-chain of online and land-based gambling.
By market-share, IGT captures a big chunk of all the punters in the world. Due to its unique organizational structure and diverse areas of operation, it has three operating headquarters, located in Rome, Las Vegas, and Providence. Its holdings headquarters is in London and it is listed on the New York Stock Exchange, with code, IGT. They pioneered a number of innovative techniques for land-based and new online casinos. When it comes to land-based, IGT manufactures top-end slot machines and develops innovative games sets for these machines.
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IGT, as it is now, is a grand merger of three different brands with three different histories. The majority stake of the company is held by De Agostini, an Italian strategic fund. The biggest company within this mega brand is the Lottomatica Consortium, which is Italy’s most preferred automated lotto services. Lottomatica was launched in 1990 and by 1992 it created Italy’s first Automated Lotto services, which became an instant hit during the digital revolution. In 2001, the company was listed on the Italian Stock Exchange and by 2002 it was taken over by Italian investment fund, De Augostini. The year 2003 was an epic year for Lottomatica as it formally realized its life-long dream of sports betting in Italy with the launch of Totocalico.
With the launch of Better; an integrated betting platform, 10e Lotto; a nation-wide phenomenon, and AWP (Amusement With Prize) machines, Lottomatica was able to gather around 100000 bets a year, with 16.5 billion transactions and the net value of 30+ billion euros. In 2010, the company became the first Italian operator to open up VLT shop, and quickly gained traction by selling off 4000 units within 1 year of its launch. Lottomatica is currently, the No 2 in interactive online gaming and no 3 in sports betting in Italy. This brand brings in a lot of innate class into IGT and manages the lottery network of the brand within Europe.
GTech is the next key pillar of the brand and is an US-based brand, specializing in centralized lottery networks. It was started in 1980 and within a year of its formal launch, it introduced the First Central System and Gaming Terminal in the US, GT 101. It won the most lucrative lottery contracts in the US; in the states of New Jersey, California, New York and Ohio. In 2015, Power Ball, Euro Millions, Mega Millions, crossed the $18 billion mark in annual sales. GTech is also the first company to send a Lottery Specific Communications Satellite System into earth’s orbit. This project, which was launched in 1995, to process real-time bets across all over the world in seconds.
The last company in this holy trinity of gambling is the International Game Technology, which was a company started by William Si Red in 1981. However, it was the Fortune 2 M, the world’s first mechanical reel slot cabinet, that made the brand into a truly global hero. By the end of 2015, the company sold off 925000 machines and installed around 1000+ systems installations around the world. This gambling system, which enabled the earliest versions of global jackpots, was developed after the accusation of Electronic Data Technologies in 1984 and is still one of the most advanced products in the market.
Just two years later, in 1986, a player won $1 million jackpot wide-area in progressive in the Mega Bucks Slot. The other big jackpot for the company was the Mega Jackpot of $40 million in 2003 to a lucky winner from the USA. This was the same year when total jackpots crossed the 3-billion-dollar mark. IGT’s purchase of EZ Pay ticket in ticket out technology allowed its machines a good deal of flexibility and it sold out is 1 millionth slot machine, the popular Red White, and Blue brand, by 2003.
IGT was always a brand for jackpot lovers, and in 2004, it introduced the first multi-level progressive mega jackpot, Fort Know. The next big market for the company was the online gambling market, for which it acquired brands like Barcrest, Sodak Gaming, Silicon Gaming, Anchor Gaming, Acres Gaming and Wager Works. In 2010, the company took its formal steps into the online casino arena by opening the IGT Interactive, which was dedicated to building a robust online gambling atmosphere.
The brand also created its own Double Down Casino, which clocked in 300 million dollars in revenue and was the top grossing app on Facebook, for quite some time. However, deep down, IGT remained focused on land-based gambling setups and in 2014, it launched the latest S3000 cabinet at G2E 2014. It was a formidable device and ten thousand units were sold in just 15 months of its launch.
The grand merger of these three companies happened in 2006, with Lottomatica acquiring GTech for $4.8bn, in a share buy-out deal. In 2015, IGT joined with Lottomatica to form one of the world’s largest gambling company. It has ruled the industry with sheer domination and has set new milestones for the industry. The brand now includes a diverse basket of products, ranging from casino games portfolio to bingo to poker to iLottery.
You will definitely enjoy some of its best creations like Bubble Craze, Cash Coaster, Family Guy, Crown of Egypt, etc. Its jackpot network is highly rewarding as it has a high number of followers and most of its casino games come with high RTP values. After a rapid shift of its entire platform to HTML 5 technology, the brand is moving into the next generation gambling with 3D video slots, virtual reality, augmented reality games, etc.