-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GTDy91KqVTX62Dy8/Y2n/YS1PpF2MX6aRFGopOtvtjBYEPtFwSmYVlAnInkopWPA 6JONNKpatG5/bea3Ar6uTg== 0001437749-09-001444.txt : 20091014 0001437749-09-001444.hdr.sgml : 20091014 20091014080050 ACCESSION NUMBER: 0001437749-09-001444 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20091014 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20091014 DATE AS OF CHANGE: 20091014 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INTERNATIONAL GAME TECHNOLOGY CENTRAL INDEX KEY: 0000353944 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS MANUFACTURING INDUSTRIES [3990] IRS NUMBER: 880173041 STATE OF INCORPORATION: NV FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10684 FILM NUMBER: 091118249 BUSINESS ADDRESS: STREET 1: 9295 PROTOTYPE DRIVE STREET 2: P O BOX 10580 CITY: RENO STATE: NV ZIP: 89510 BUSINESS PHONE: 7754487777 MAIL ADDRESS: STREET 1: 9295 PROTOTYPE DRIVE CITY: RENO STATE: NV ZIP: 89511 8-K 1 igt_8k-101309.htm FORM 8-K igt_8k-101309.htm
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
________
 
FORM 8-K
________
 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported):  October 14, 2009
________
 
INTERNATIONAL GAME TECHNOLOGY

(Exact name of Registrant as specified in its charter)
________
 
Nevada
 
001-10684
 
88-0173041
(State or Other Jurisdiction
of Incorporation)
 
(Commission File Number)
 
(I.R.S. Employer
Identification Number)

 
9295 Prototype Drive, Reno, Nevada                                  89521
(Address of Principal Executive Offices)                            (Zip Code)
 
(775) 448-7777
(Registrant’s telephone number, including area code)
 
N/A
(Former Name or Former Address, if Changed Since Last Report)

 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 

 
 
Item 7.01. Regulation FD Disclosure.
 
On October 14, 2009, International Game Technology issued a press release announcing certain expected fourth-quarter charges.  A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
 
Item 9.01. Financial Statements and Exhibits.
 
(d)      Exhibits
 
Exhibit
Number
 
Description
99.1
Press Release dated October 14, 2009
 
 
 
 

 
 
SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
  INTERNATIONAL GAME TECHNOLOGY  
       
Date:  October 14, 2009
By:
/s/ J. Kenneth Creighton  
    J. Kenneth Creighton   
   
Vice President, Corporate Law Department
 
   
and Assistant Secretary
 

 
 
EX-99.1 2 ex99-1.htm PRESS RELEASE ex99-1.htm
Exhibit 99.1
 
 
 
IGT Announces Expected Fourth Quarter Charges

(Reno, Nev. -- Oct. 14, 2009) – International Game Technology (NYSE: IGT) announced today that in conjunction with an assessment of the company’s long term strategic goals, including increased focus on gaming content and efficient use of capital resources, it has completed a review of several of its strategic investments and partnerships. Based on this review, IGT expects to record the following charges to its fourth quarter results, which it will report on November 5, 2009.

As previously disclosed in its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2009, IGT restructured its relationship with Walker Digital Gaming, Inc. under an August 2009 agreement.  Based on an evaluation of management’s intent and ability to use this intellectual property in existing and future products, IGT expects to record a non-cash charge of approximately $78 million, reflecting a reduction in the carrying value of this investment.

IGT also expects to record a non-cash charge of approximately $13 million related to its investment in Las Vegas Gaming International (LVGI). This decline in valuation reflects uncertainty of LVGI’s ability to continue operating as a going concern.

In addition to these charges, IGT will record additional tax provisions of approximately $15 million related to the establishment of a valuation allowance against foreign deferred tax assets which will not likely be realized.

These non-cash charges collectively total approximately $77 million, net of tax, or approximately $0.26 per diluted share for the fourth quarter. IGT does not expect these charges to impact the company’s continuing compliance with debt covenants and will discuss these items on its fourth quarter earnings conference call on November 5, 2009 at 2:00 p.m. PST.


 
News Release
 
IGT Announces Expected Fourth Quarter Charges
Page 2 of 2
 
 
About IGT
International Game Technology (www.IGT.com) is a global company specializing in the design, development, manufacturing, distribution and sales of computerized gaming machines and systems products.

Statements in this release which are not historical facts, including without limitation statements concerning expected fourth quarter charges and IGT’s continuing compliance with debt covenants, are "forward looking" statements under the Private Securities Litigation Reform Act of 1995. Although IGT believes that the expectations reflected in any of its forward-looking statements are reasonable, actual results could differ materially from those projected or assumed. IGT's future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent known and unknown risks and uncertainties. IGT does not intend, and undertakes no obligation, to update forward-looking statements to reflect future events or circumstances.

Information on risks and factors that could affect IGT's business and financial results are included in their public filings made with the Securities and Exchange Commission.

Contact:
Patrick Cavanaugh, Executive Vice President and Chief Financial Officer or Craig Billings, Vice President Corporate Finance/Investor Relations, both of IGT, +1-866-296-4232
 
###
 


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