IGT Investigates Cybersecurity Breach
International Game Technology (IGT) has reported a cybersecurity breach affecting its internal IT systems. The incident, detected on November 17, 2024, prompted IGT to activate its cybersecurity response plan immediately.
Protective Measures Initiated to Minimize Disruption
In a regulatory filing with the US Securities and Exchange Commission (SEC), IGT confirmed it has taken affected systems offline as a precautionary measure. The company is working diligently to restore full functionality and has emphasized its commitment to minimizing disruptions to customers.
Pre-established business continuity plans have been implemented to maintain operations wherever possible. Despite these efforts, the financial impact of the breach remains unclear as the investigation is still in its early stages.
Timing of the Breach Sparks Industry Attention
The cybersecurity incident comes at a pivotal time for IGT. Just days earlier, shareholders approved a major merger agreement involving the company’s Gaming and PlayDigital divisions.
Under the terms of this $6.3 billion transaction, these segments will be sold to Apollo Global Management, with the deal expected to close in Q3 2025.
While there is no evidence to suggest a connection between the breach and the merger, the timing has raised questions among industry analysts and stakeholders. The incident adds a layer of complexity to what is already a transformative period for IGT.
A Challenging Year for IGT
The cybersecurity breach marks another hurdle for IGT in a year already defined by financial challenges. The company reported a 2% decline in Q3 revenue, which fell to $587 million, alongside a 33% drop in operating income to $110 million.
Despite these difficulties, IGT has reassured stakeholders that it remains committed to resolving the cybersecurity issue promptly. Regular updates are being provided, and the company continues to emphasize its dedication to operational integrity and customer satisfaction.