International Game Technology has seen its fair share of ups and downs. The company has been working round the clock to cut ties with unyielding markets overseas, while continuing to branch out in closer proximity to its US headquarters. The latest move from IGT saw the casino games systems technology provider renew and solidify a long-time partnership with games developer High 5 Games.
IGT and High 5 Games have been working successfully together since 2004. Their combined ingenuity has seen more than 100 high-tech casino games go from concept to publication on the IGT system. Online casino fans may recognize a few of their more famous titles; Sirens, Da Vinci Diamonds, Golden Goddess, Cats and Shadow of the Panther, just to name a few.
The contract extension will see High 5 Games producing 16 more action-packed amusements over the next few months, to be published by IGT. Some of the casino games planned for release include ‘Golden Three Kingdom’, ‘That’s a Hit’ and ‘Big Dragon Lounge’.
This deal alone won’t be enough to breathe new life back into the waning lungs of International Game Technology, but combined with the company’s surge to cross the threshold of new and superior market climates, IGT just may be able to survive the current recession of the US market and not just rise from those ashes, but climb right to the summit within the next few years.
International Game Technology made a lot of moves recently, and they’re not done yet. The company backed out of numerous European markets where it felt that the industry was being dominated by a monopoly business mentality, leaving no room for international companies to compete on a successful level. While it downsized the overall IGT brand, it improved the company’s outlook tremendously.
Another bold move saw IGT partnering up with the popular Canadian online casino, EspaceJeux.com, as well as several other overseas brands. It would seem the casino games system technology provider is meticulously plucking itself from negative strongholds and attempting to extend its grasp on higher yielding markets at the same time.
The guaranteed expansion of IGT’s online and mobile casino games portfolio as per the extended contract with High 5 Games will undoubtedly help the company to strike deals with online casinos throughout profitable regions of the world. The company is relying heavily upon these business relationships to keep the profit margins in the black until such time when it can begin providing online games to US-based gambling sites in a legal, regulated framework.
According to BI Intelligence, the US market is expected to swell tremendously over the next few years, due to the projected establishment of US online poker sites, estimated to nearly triple from $2 billion in 2011 to $5.5 billion in 2015. A probable surge of that magnitude could be enough to keep stock holders interested, despite the Nasdaq’s current short-term recommendation to sell IGT shares. Even with such positive changes in effect, the Nasdaq’s long-term outlook remains neutral due to IGT’s heightened opposition from industry rivals Bally Technologies Inc. and WMS Industries Inc.