IGT Lifts Slot Machine Stocks

Slot machine stocks are gaining after IGT reports first-quarter profit in-line with estimates.
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NEW YORK (

TheStreet

-- Slot machine makers are rallying following

International Game Technology's

(IGT) - Get Report

7% jump in first-quarter earnings.

IGT said on Thursday it earned $35.9 million, or 12 cents a share, compared with $33.6 million, or 11 cents, in the year-ago period.

Excluding charges related to restructuring and write-downs, IGT actually earned 20 cents a share, in-line with estimates.

IGT's revenue, boosted by international sales, grew 4.6% to $497.7 million. Still this fell short of Wall Street's outlook of $511.8 million.

Shares of IGT are advancing 7.7% to $21.09 in afternoon trading, lifting up shares of other gaming technology makers.

WMS Industries

(WMS) - Get Report

is rising 4.3% to $49.47, while

Bally Technologies

(BYI)

is jumping 4.8% to $44.90.

-- Reported by Jeanine Poggi in New York.

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