Long Position on IGT @ $17.65 on 4/6/2016 (Momentum)

International Game Technology PLC (IGT) operates and provides a range of services and technology products across lotteries, machine gaming, sports betting, and interactive gaming markets in North America, Asia, and Europe.

It provides online lottery transaction processing systems; a suite of lottery-enabled point-of-sale terminals; supplies instant ticket games; and provides printing services, instant ticket marketing plans, graphic design, programming, production, packaging, and shipping and delivery services. The company also provides video lottery terminals (VLT), VLT central systems, and VLT games to government customers; video and traditional mechanical reel slot machines and casino systems to casino operators; and amusement with prize machines and games to licensed operators, as well as designs, develops, manufactures, and provides cabinets, games, systems, and software.

In addition, it is involved in the provision of sports betting platform that offers betting on sporting events, motor sports, and non-sporting events, such as entertainment, music, culture, and current affairs; transaction processing of commercial transactions, such as prepaid cellular telephone recharges, prepaid mobile data, prepaid electricity and other utility bill payments, credit card transactions, social security contributions and payments, and prepaid cards; and collection, processing, and network services on behalf of third parties, as well as in the issuing of electronic money through immediate conversion of funds.

Further, the company provides interactive games, such as poker, casino games, bingo, iLottery, sports betting, horseracing, and skill-based games. 

Shares have formed a bullish "flag" after the company signed a 7-year contract witth State of Virginia's lottery officials to replace the State's lottery machines. Higher share prices are expected for this stock.

52-Weeks Trading Range: $12.48 - $21.23

Entry Point: $17.65

Stop Loss: $16.75

Target Price: $19.41

Updates

5/31/2016 10:09:52 AM

IGT closed at $18.80.

Position closed on 5/31/2016 at price of $18.80 with a 6.52% gain in 55 days.

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