Added to YB: 2025-01-23
Pitch date: 2025-01-21
IGT [bullish]
International Game Technology PLC
-1.02%
current return
Author Info
Clark Street Value is a special sits/event-driven investor. Sign up for the newsletter.
Company Info
International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally.
Market Cap
$3.5B
Pitch Price
$17.59
Price Target
N/A
Dividend
4.61%
Sector
Hotels, Restaurants and Leisure
Category
special_situation
International Game Technology: Gaming Segment Sold to Apollo, RemainCo Cheap
IGT: Spin-off of gaming segment to Apollo for $4.05B pre-tax. RemainCo (lottery biz) trades at 5x EBITDA vs peers 9-16x. Italy Lotto (40% rev) contract expiring, competitive bid due Mar 17. Even if lost, still cheap at 5.5x EBITDA. $2B debt paydown planned. 8x EBITDA target. Jan '27 LEAPs owned.
Read full article (3 min)