IGT Anticipates 4th-quarter Charges Of $77 Million
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IGT
RENO, Nev. (AP) Slot machine and casino management systems maker International Game Technology said Wednesday that it expects fourth-quarter charges of about $77 million.
The charges of approximately 26 cents per share include a $78 million noncash charge related to the lower carrying value of its investment in Walker Digital Gaming Inc. IGT reworked its relationship with Walker in August. 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.- Loading Comments...
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