In case you have not heard, 2009 was not a banner year economically, especially in the casino and online casino industry. It seemed every week had a new story or update about a casino loosing money, laying off workers, filing for bankruptcy, or flat out closing their doors. Casinos in towns like Las Vegas have attracted customers buy lowering their resort rates. Some have been able to skate buy through cutting costs. The good news some casinos were able to out together a profit for the final quarter, this is not to say that these companies are not affected by the recession, but they were able to make just a little more money than they spent.

One of those lucky companies in the casino industry that were able to post a profit for the the 2009 fourth quarter is International Gaming Technology. They are a Reno based gambling and casino equipment manufacturer. International Gaming Technology was lucky enough to post a net income of $73.3 million. This was up from $61.2 million in the same quarter of the previous year. This also means their stocks went up from 21 cents a share to 25 cents in a year on year comparison.

International Gaming Technology is planning on continuing their cost cutting ways. They see it as a way to weather the economic downturn and continue providing their casino customers with their first rate products. They were able to shop more replacement gambling machines went up over the past year. This was a good sign that the casinos they provide for are making it through also. IGT is also making strides to stay ahead of the curve when it comes to the products they develop. “It is important to say ahead of market trends and continuously evolve our business,” stated IGT Chief Executive Officer, Patti Hart. Sadly, even though they were able to make some financial gains, some market analysts feel it will still be some time before they make up the market share they lost to other technology companies. However, with the current economic environment, any light at the end of the casino industry tunnel is a good light.

Tags: casino, gambling, online