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Greek Financial Crisis Could Cost IGT & Scientific Games Millions • This Week in Gambling
At first glance, it appeared the Greece financial crisis had dipped into the country’s lottery network. Instead, the Greek company that operates the nation’s lottery implemented what one analyst called “a hard-nosed negotiation tactic” to extract more favorable contract terms after Greece’s Hellenic Gaming Commission announced new lottery industry regulations. But the move hits the bottom lines of Nevada’s two largest slot machine manufacturers, costing Scientific Games Corp., and International Game Technology millions of dollars in revenue and cash flow. “These were sizable business opportunities for both IGT and Scientific Games,” said Eilers Research principal Todd Eilers. Ultimately, Eilers expects...
This Week in Gambling