IGT Sees Profit Plunge

In this economy, it is no wonder that people are watching their favorite stores struggle and close around them. Industries that many said would never feel the pinch of the economy are seeing themselves laying of hundreds, even thousands of employees. Everyone is hurting and everyone agrees that it is going to get worse before it gets better.

But there were some who said that the casino industry, slot machines in particular, would never feel the pinch of the economy. They said that people will always gamble and they will always look for an escape of some kind to retreat into – and slot machines were supposed to be that.

But ask International Game Technology and they will tell you a different story. The slot machine manufacturer and distributor will tell you that they are feeling the pinch just as much as everyone else is. They will also tell you that their first quarter profit is down 42% from last year, which is a huge amount of money.

With the casinos recently reporting that their slot machine numbers were down, it is no wonder that the slot machine manufacturers would now be feeling that as well. IGT is one of the biggest names in the slot machine industry, and they offer everything from design and manufacturer of the slot machines to handling both front and back of house. They even offer online gambling where it is legal, so if this company is feeling the pinch and experiencing a decline like this we can only wonder how everyone else is doing.
 

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