IGT anticipates 4th-quarter charges of $77 million

Oct 14, 2009 9:00 PM
Staff & Wire Reports |

Slot machine and casino management systems maker International Game Technology (IGT) said Wednesday that it expects fourth-quarter charges of about $77 million.

The charges of approximately 26 cents per share include a $78 million non-cash charge related to the lower carrying value of its investment in Walker Digital Gaming Inc. IGT reworked its relationship with Walker in August.

Related Articles:
Casinos in crisis -- marketing missing the mark
Casinos in crisis Part 2: Back to Basics
Casinos in crisis Part 3: Promotions target lost customers
Also Check out our Race & Sports Section

The company also anticipates a charge of about $13 million related to a decline in the value of its Las Vegas Gaming International investment. Additional tax provisions of $15 million will also be accounted for.

IGT said it doesn't expect the charges to affect its ability to comply with debt requirements.

The company is scheduled to report fourth-quarter results on Nov. 5.

Question? Comment? E-mail the staff at: Staff of GamingToday