International Game Technology Reducing Costs
IGT (International Game Technology) announced today that they have plans to reduce their costs in order to promote long-term profit in revenues and growth with their software. This comes after the company spent a large portion of their revenue on pointless avenues that resulted in the loss of profit. The money spent didn’t affect their games under development but did affect their facilities and employees.
Patti Hart, the CEO behind IGT spoke about reducing costs stating: “We have reached the halfway point in our fiscal year. During the first half we found that money was being spent when it didn’t need it to be. History repeated itself as we had the same issue earlier in the first part of our fiscal year in 2013. We knew that our success came from the second, third and fourth parts of our fiscal year in 2013. IGT will once again repeat that process in 2014 and continue to reduce cost in 2015.”
Mr. Hard continued on saying, “However in defence of IGT, the company didn’t expect a sharp decline in the gross amount of gaming revenues that we have in North America. If we would of been able to foretell the future, the company wouldn’t have spent our profits so foolishly. We will now focus on creating a gambling experience that cannot be matched by the like of our competition in hopes that we’ll once again be able turn a large profit.”
Any new details that are released pertaining towards IGT and their future, we’ll update you on every detail.