Zacks' Slot Machine Update

Zacks.com was formed in 1978 by Leonard Zacks. Len knew he could find patterns in stock market data that would help him figure out investment results that would be higher than the normal broker’s figures. He created what is known as the Zacks Rank, which is a “propriety stock picking system” that “continues to outperform the market by nearly a 3 to 1 margin.” So when Zacks picked a slot machine manufacturer it only made sense to listen.

International Game Technology, a slot machine manufacturer and distributor, announced their fiscal fourth quarter earnings per share of $0.35 on revenues of $638.7 million. The slot machine giant said that their earnings advanced over 3% and their revenues advanced 5%. The slot machine maker also said that this quarter finished off a really good year for them.

According to Zacks Readers Digest: “International Game Technology is well positioned to achieve sustainable above average, long-term growth; thanks to a strong secular outlook and superior [slot machine] company fundamentals. The secular demand for [slot machine] gaming devices continues to expand given the favorable economics of slot machines, an accelerated replacement cycle, and the proliferation of gaming around the globe. The company’s dominant share of the manufacturing business strategically positions it to reap the greatest financial benefit from secular growth.”

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