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twitterStrategic alliance signs with Scientific Games
Tuesday, Jan. 18, 2005 | 9:23 a.m.
International Game Technology has signed a worldwide, long-term strategic alliance with a New York-based gaming systems supplier to provide new systems products.
Reno-based IGT's alliance with Scientific Games Corp. is expected to lead to the development of new technology and products for central server-based systems.
Terms of the alliance were not disclosed.
"This strategic alliance should enhance the two companies' relative competitive positions with respect to other competitors," said Marc Falcone, a gaming analyst with Deutsche Bank Securities, in a note to investors.
Scientific Games is expected to provide the company's Aegis central monitoring system with IGT's Advantage line of products, which include accounting, bonusing and EZ Pay systems, for government and commercial gaming markets.
Shares of Scientific Games shot up $2.57, or 11 percent, to close at $25.87 on Friday. IGT's shares fell 5 cents to close at $33.43 on Friday.
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