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The lottery business accounts for 75% of pro-forma earnings and is a major earnings before interest, taxes, depreciation, and amortization (EBITDA) driver, undervalued relative to competing assets. Analysts argue that when lottery assets are attached to conglomerate-like gaming companies, which is the case with IGT, they don\u2019t get the appreciation they should from market participants.<\/p>\n<\/div>\n
Data confirm domestic lottery sales are soaring this year. The lottery has historically been one segment of the gaming industry that proves sturdy when consumers dial back discretionary spending.<\/p>\n","protected":false},"excerpt":{"rendered":"
Shares of International Game Technology (NYSE: IGT) slumped Thursday after the stock was downgraded by Jefferies. The research firm lowered its rating on the gaming device manufacturer to \u201chold\u201d from \u201cbuy,\u201d while trimming its price target to $29 from $36. That new forecast implies upside of 15.3% from current levels. Jefferies told clients that the […]<\/p>\n","protected":false},"author":46,"featured_media":267406,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,32093,1,69293],"tags":[81903,81966,81967,81890],"acf":[],"yoast_head":"\n
IGT Stock Slumps On Jefferies Downgrade<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n