IGT strikes deal with MGM Mirage
A day after slot machine maker International Game Technology announced less that stellar third quarter earnings, the company said it reached an agreement to place additional slot machines with MGM Mirage.
IGT said the deal calls for some 300 Wheel of Fortune slot machines would be added to IGT’s existing base of MegaJackpots branded machines at MGM Mirage properties.
IGT indicated the installation will begin immediately and should be completed by the end of August, meaning the company will report the placements as part of its fourth quarter earnings.
Tom Mikulich, vice president of the MegaJackpots brand for IGT, said the company plans on unveiling new wheel-based slot machines – game where gamblers spin a wheel as a secondary bonus jackpot when certain symbols are lined up – at MGM Mirage casinos.
On Thursday, IGT said its profits declined 39 percent in the third quarter, but the news didn’t faze investors. Shares of the company grew almost 13 percent Thursday on the New York Stock Exchange.