Barclays Maintains an 'Equalweight' on International Game Tech (IGT); Massachusetts Gaming Bill Signed

Barclays maintains an 'Equalweight' on International Game Tech (NYSE: IGT) price target of $18.00.

Barclays analyst says, "The completion of casino gaming legalization in Massachusetts represents a longer-term positive for the gaming equipment suppliers. While we do not expect any slot placements in the market for at least the next two years, we believe that today's news importantly provides greater long-term visibility for the domestic market, particularly given the slow pace of recovery in the replacement cycle. In our view, the next potential markets to monitor are New Hampshire, Florida, and progress in Illinois and Ohio VLTs."

"We estimate that the Massachusetts market could add at least $0.03 of EPS to IGT via one-time product sales, and $0.03 (on a recurring basis annually) from gaming operations. Our estimate assumes a total market size of 10,250 units (3,000 per casino and 1,250 at the slot parlor), with 8% of the floor (or 820 units) allocated to participation units."

For an analyst ratings summary and ratings history on International Game Tech click here. For more ratings news on International Game Tech click here.

Shares of International Game Tech closed at $16.60 yesterday.

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