Why International Game Technology Stock Jumped on Thursday
Shares of International Game Technology (NYSE: IGT) were up 11% as of 10:56 a.m. ET on Thursday following a Bloomberg News report on Wednesday that the company had found a potential buyer for its global gaming division.
The report said private equity firm Apollo Global Management could be a potential acquirer of the gaming business, which could fetch a price between $4 billion and $5 billion, including the assumption of debt.
International Game Technology is a leader in operating lotteries and other gaming experiences. It owns very profitable business segments that in total generated an operating margin of 24% in the first half of 2023.
Source Fool.com
